One of the most important decisions when owning a vehicle is choosing the policy and insurance company that will provide coverage in the event of damage or a road accident.
In the market there are different policy options, price ranges and types of insurer profiles. One of the most chosen coverages is the insurance policy. all riskalthough it must be considered that despite what its title indicates, it could have certain limitations, and that will depend on what is contracted.
All risk policies seek to cover the insured vehicle and third parties. This means that there could be claims in which the insurance company itself pays for the damage suffered by our vehicle whether or not we caused the crash.
Furthermore, if the accident occurred through one’s own responsibility, the expenses of the other party will be paid. You must always keep in mind that for there to be coverage there does not have to be any cause for the company not to cover such as, for example, non-payment of premium.
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This type of all risk policy can be contracted with or without franchise and this should be very clear when making the decision. In general, the lower the deductible, the value of the premium will increase. For this it is important to get different quotes to be able to compare and make this decision with as much information as possible.
Hay many franchise options but you have to decide it with a calculator in hand. For example, if the policy says it is 5%, you have to see what that percentage is based on. The reference value that appears on the front of the policy is not the same as if the value of a 0 km of the same make and model of the insured vehicle is taken.
This last example is much more relevant if the car is several years old since the deductible could be quite high in the case of a repair for partial damage.
It is also necessary to analyze if it covers other damages such as hail or broken glass, which are generally covered in all-risk coverage. without franchise; that is, 100% repair or replacement.
All risk policies can be with or without excess. The suggestion before purchasing insurance coverage is to analyze the advantages and cons of each type of policy, taking into account the exposure to each type of risk.
This is important because it is not the same if the car is going to circulate on highways or avenues with a lot of traffic than if it is traveling through areas with very low accident rates.
It is important to clarify that the specific case must always be evaluated and this note does not imply advice on the specific situation but rather general guidelines.