All-risk insurance is the most comprehensive form of car insurance, but also the most expensive. It is aimed at motorists who wish to travel with peace of mind, being certain of benefiting from the best possible cover against risks.
Summary:
- What is comprehensive insurance?
- Why choose all-risk car insurance?
- Guaranteed maximum protection
- All-risk car insurance: how much does it cost?
- Comprehensive insurance and deductible
- Frequently Asked Questions (FAQ)
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| What are the benefits of all-risk car insurance? |
What is comprehensive insurance?
All-risk insurance is the most comprehensive and protective form of auto insurance. It covers many types of car claims: accident, car theft, fire, and glass breakage. But this comprehensive cover comes at a price: it's also the most expensive!
That's why some drivers prioritize cost savings over indemnity coverage when it comes to choosing an auto insurance policy.
And yet, a very protective formula can sometimes avoid a lot of financial inconveniences! Indeed, while third-party insurance stops at the civil liability guarantee (RC), all-risk contracts display a very high level of guarantees. These cover not only the driver but also their vehicle.
Why choose all-risk car insurance?
Taking out an all-risk car insurance policy means playing the safety card. Consequently, we can only strongly recommend that you take out this type of contract if you wish to:
- Protecting a valuable car:
"all-risk" insurance is the most suitable if you want to insure a collector's car, a high-value car, or even new vehicle. Thus, in the event of a road accident, this optimal formula will minimize the costs of car repairs and repairs to the garage ;
- Benefit from the best guarantees:
the all-risk formula covers a very wide range of damage. It guarantees compensation in most situations: accident responsible or not, third-party identified or not, vehicle stationary or in circulation, vandalism, natural disasters, etc.
Generally, young drivers turn to third-party insurance. But sometimes, the all-risk offer is just as attractive to them. In case of doubt between the different formulas, or hesitation concerning an option, it is best to use a car insurance comparator.
- All-risk car insurance: the formula most chosen by motorists
The all-risk formula is the most chosen: almost 1 motorist out of 2* (47%) opts for this type of contract! This is much more than other car insurance formulas (third party and intermediary).
Guaranteed maximum protection
Insurers distinguish their “all-risk ” offers from the “ third-party ” or “intermediary ” formulas . Indeed, the all-risk formula contains high levels of guarantees, even in the event of a responsible accident!
- The guarantees of the all-risk contract
The advantage of the all-risk contract lies in the fact that it contains many car insurance guarantees. Here they are:
- “All accidents” material damage cover:
this fully covers the insured each time his car is damaged. And this, regardless of the nature of the accident (in a car park, parked, in the event of vandalism, etc.) and material damage;
- Good to know:
note that if a third party caused the accident, the insurer of the driver at fault will bear all the compensation;
- Individual driver's cover:
covers bodily injury. Thus, it covers medical expenses, those of hospitalization or surgery, compensation for the work stoppage, and even funeral expenses in the event of death ;
- Glass breakage guarantee:
it covers at least the repair or replacement of the windscreen, the rear window, and the side windows.
- Theft guarantee:
this protection operates in the event of theft or attempted theft of the vehicle, on condition of proving the break-in.
- Fire and explosion guarantee:
it covers all types of claims (fire, explosion, lightning) except those caused by poor maintenance of the car.
- Storm warranty:
as its name suggests, this warranty protects you to receive compensation from your car insurance in the event of damage caused by a storm ;
- Natural disaster guarantee:
this guarantee covers damage caused in particular by an earthquake, an avalanche, or a flood
- Technological disaster guarantee:
compensation following an industrial accident is subject to a natural disaster decree published in the Official Journal. Indeed, the cover depends on the damage suffered by the vehicle and the period concerned
- "Vehicle contents" guarantee:
which may be called differently depending on the insurer selected, this guarantee allows you to be compensated if you notice the deterioration or disappearance of personal effects transported in the vehicle. It concerns both personal and professional objects;
Vehicle and personal assistance cover in the event of a claim
Legal protection guarantee as it intervenes in the event of a dispute related to the car. It accompanies the insured in his steps until the trial following a car accident.
Knowing how to avoid the pitfalls of legal protection insurance (APJ) Read the article
These coverages may vary depending on the contracts offered. It is for this reason that it is important to compare auto quotes, offers, rates, and guarantees before making your choice. Also, remember that the name of the guarantees may vary from one insurer to another.
- Optional guarantees
While all-risk insurance gives you comprehensive coverage, you can make it even better by purchasing one or more additional options. Here they are :
Mechanical breakdown warranty
Loan of a replacement vehicle (also called “courtesy”) in the event of immobilization of that of the insured;
- Replacement value guarantee
- Extended driver's warranty
- Extensive legal protection
While all-risk car insurance is the most advantageous, responsible driving remains essential. Maximum coverage does not necessarily mean that you are exempt from the respect of other road users.
In the event of driving while intoxicated (drunk driving ) or under the influence of narcotics, the insurer will be obliged to terminate the contract of its client. The same applies to bodily injury occurring without wearing a seat belt: the driver cannot be compensated.
All-risk car insurance: how much does it cost?
The price of all-risk insurance varies according to a set of elements related to the vehicle (model, age, parking, power, etc.) and the driver (age, place of residence, driving, bonus-malus ).
Therefore, comprehensive car insurance rates are not the same from one motorist to another.
All-risk auto insurance premiums are the most protective and offer the best level of coverage. The average premium for motorists insured with the all-risk formula was €733/year in 2021 compared to €527/year for third-party insurance.
Comprehensive insurance and deductible
All-risk insurance may be the most comprehensive coverage, but note that the company still applies a deductible in the event of an at-fault accident. This deductible corresponds to the amount that will remain payable by you in the event of repairs, without reimbursement by the insurer. It is written in your contract.
Consider that your auto insurance contract provides for a deductible of €400 in the event of an accident at fault. In the event of a claim for which the repairs are €3,000, your insurer will compensate you for €2,600.
Obviously, in the case of an accident where the responsibility is shared, the deductible is halved.
Finally, be aware that you can negotiate the amount of the car deductible with your insurer. It is even quite possible to take out all-risk car insurance without a deductible. Your car insurance premium will be higher.
Frequently Asked Questions (FAQ)
How to find the cheapest all-risk car insurance?
One of the quickest and easiest ways to get the cheapest all-risk insurance is to do an online auto insurance comparison. That's good, the leader in car insurance comparators on the Web can offer you dozens of car quotes in just a few minutes!
Do not hesitate to make a comparison to choose which company to turn to for your all-risk formula.
Know that the process is free and that it does not commit you to anything.
What is the main difference between a third-party car insurance formula and an all-risk formula?
The main difference between third-party car insurance and all-risk car insurance is the number and level of guarantees that the insured benefits from. In the event of a claim, a fully insured driver will be better covered than a third-party insured. Be careful, however: the car insurance premium is higher if you choose comprehensive insurance.
When to stop your comprehensive insurance?
When you feel you no longer need it! After a certain number of years, the value of your vehicle declines ( from -15% to -25% the first year!), to such an extent that all-risk insurance represents far too much of an expense compared to the amount you you would receive from your insurer in the event of a claim. Insurance is based on the value of your vehicle on the second-hand market (via the Argus Coast) to calculate the compensation you will receive in the event of a claim.
If your vehicle is more than 5 years old and/or has 100,000 kilometers on the odometer, why not consider intermediate car insurance offering a good balance between price and coverage? However, there are exceptions: sports vehicles and other collector cars are less subject to this drop in value. In some cases, their rating can even be revised upwards!
Are there any warranty exclusions for comprehensive insurance?
Being insured against all risks does not mean that your insurer will compensate you regardless of the situation in which you find yourself. In fact, car insurance coverage exclusions may apply in certain cases.
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