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And goodbye! How to get rid of old car insurance

And goodbye! How to get rid of old car insurance

The next premium notice has arrived and the decision has been made: Looking for a new car insurance that is cheaper! Now it is time to part with the old insurance, whereby, among other things, the notice period must be observed. But even in other cases than just a premium increase, it may be necessary to cancel the insurance.

Please note the planned termination

In order to be able to cancel at all, a few points must be clarified. When is termination possible, which deadlines must be observed? The current insurance policy states all relevant data, the termination provisions are listed in detail in the general insurance conditions. Sometimes there is an appendix (?Special conditions?), which must also be taken into account.
In the case of a regular termination, a period of three months must usually be observed; the exact period is stated in the insurance policy. Important: In order to meet this deadline, it is not enough to put the cancellation in the mailbox in good time. Rather, it must be received by the insurance company by the expiry of the deadline and must therefore be sent a few days in advance. If you miss the deadline, you usually have to pay for the insurance contract for another year, because the contract is automatically renewed.
And another important point: the contract must be terminated in writing! A phone call or email is not sufficient. The letter should mention the following points:

    • Writing is called ?Termination? designated
    • Effective Date
    • Name and address of the policyholder
    • contract number

In these cases, the cancellation of the car insurance is possible

Termination is only possible if the agreed notice period has been observed. This is usually three months at the end of the contract period, but can also vary. In any case, a regular termination at the end of the insurance contract is possible before it is renewed again.

If damage has been reported, the insurance can also be canceled. However, both the policyholder and the insurance company itself can make use of an extraordinary right of termination. For the insurance company, however, the cancellation must be received by the insured person at the latest with the payment of the damage. The insured person can cancel the contract themselves within 14 days after learning that the insurance company has paid (usually by making a booking on the account). The premium, which is still valid until the end of the year, will be refunded. However, there is an exception if the cancellation takes place directly in the first year of the insurance or after a total loss of the car. The unused bonus will then expire and will not be refunded.

If the premiums have been increased, the insured person can also exercise his right to cancel. In this case, the notice periods usually do not apply or are reduced to four weeks after the increase has been noted. If the premium increases because the vehicle owner himself has requested an adjustment to the insurance conditions, the right to extraordinary termination due to a premium increase does not apply.

If the vehicle has been changed, the insured person can also cancel the previous insurance. A new insurance contract can now be concluded for the new vehicle, which does not necessarily have to be the case with the previous insurance. Another insurance company can also be selected. The premiums that have not yet been used can be reclaimed.

Conclusion: Opting out of the car insurance contract is possible

It is possible to withdraw from the insurance contract, but notice periods must be observed. This applies above all to regular termination, which is often possible with a notice period of three months. If you miss the deadline, you have to live with the fact that the insurance will be extended by another year. However, extraordinary terminations are possible due to a claims settlement and an increase in premiums. The cancellation must be submitted to the insurance company in writing and should be sent by registered mail. This ensures that the letter is not ?lost? gone and was really delivered to the recipient on time.

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Accident abroad: Insured persons need to know this

Accident abroad: Insured persons need to know this

A vacation abroad? A business trip or a weekend trip? If these trips by car are pending, you should think about insurance protection in good time. Because this must be complete when the trip is due. Important to know: When it comes to legal issues in the event of an accident, the law of the country in which the accident happened always counts. This means that if a Swiss causes an accident in Austria, the law in Austria applies. Claims must therefore also be sued in Austria. Traffic legal protection insurance is therefore useful.

Please take it with you abroad

?I pack my suitcase and take with me ?? The popular children's game can also be considered when preparing for a trip by car to another country in Switzerland, because there are a few things that must not be forgotten under any circumstances. The breakdown triangle, which is mandatory in most European countries, is very important. In addition, a safety vest must be carried, as this increases the visibility of people on the streets or at the side of the road. It is therefore for your own safety as well as the safety of other road users, who get a more realistic chance of seeing a person.

Furthermore, a European accident report should be kept, which contains all the necessary data and information that must be recorded in the event of an accident. If there was only fender damage and no one was injured as a result, the police accident report is no longer necessary. The European Accident Report is sufficient, but it must be filled out in full and signed by all parties involved. Linguistic problems do not arise if the appropriate protocol is selected for the target country. The reason: It is available in several languages and can therefore be customized. The form is available from the car insurance company or directly from the police.
tip: You can also enter your own data at home. Is the log not required? all the better! In all other cases it is already prepared.

When an accident happens

In general, travelers should inform themselves thoroughly about the laws in the country they intend to travel to, so that there are no nasty surprises in the event of damage. In addition, you should definitely check your own insurance cover, because not every insurance also covers damage that has occurred abroad. On the one hand, this applies to the damage itself and, on the other hand, to the amount of cover required, which can vary.
In the event of an accident, the procedure is as follows:

    1. keep Calm
      As long as you are not injured yourself, it is now important to remain calm and initiate everything else.

    2. Secure the scene of the accident
      Very important: Set up the warning triangle and put on the safety vest! In this way, other road users are warned and can prepare themselves to pass the scene of an accident. In addition, the warning looker is to be set. Depending on the situation, first aid must be provided, usually the police have to be called. This applies in any case if people have been injured or if the person involved in the accident is not cooperative or does not want to fill out or sign the accident report.

    3. Record important points
      Whether in the accident report or even on a list: the most important points about the accident must be recorded, because they can usually no longer be understood later or are even completely unknown. This includes, for example, the name and address of the other party involved in the accident and other parties involved, and the names and addresses of witnesses are also noted. Insurance data is exchanged, whereby the international insurance card is best simply photographed using a smartphone. Information from the vehicle registration document of the other party involved in the accident is just as important, including the vehicle owner and chassis number. The location of the accident must be named, and the description of how the accident happened is also important. If the police were called, the name of the officer responsible should be written down, and the address of the responsible police station should also be noted.

    4. Accept no liability
      Only the European accident report (if it is available in German) is signed on site, never a foreign report or a handwritten note explaining the exclusion of liability.

Conclusion: prepare your trip abroad well

Insured persons should prepare well if they plan to travel by car to another country in Switzerland. What does the insurance policy say about liability and coverage? Do you have traffic legal protection insurance (if not, make sure you take it out!)? In the event of damage, you should remain calm and under no circumstances should you sign a liability declaration. If necessary, please always wait for the police!

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Cost differences with the same service: Swiss, just change!

Cost differences with the same service: Swiss, just change!

Car insurance policies are mostly similar in their benefits. A few more concessions are made here, while some damage is not covered there. But overall, performance remains the same. Nevertheless, there are large price differences between the providers. The most astonishing thing, however, are the insured persons themselves, who state that they would like to change, but only in the rarest of cases actually do so.

Many want to change, few do

Every year, the decision from the car insurance company comes fluttering into the house and indicates that the premiums will (once again) be increased. Very few car owners who want to continue driving their long-loved vehicle are rewarded with low premiums on their previous insurance. It is usually only cheaper if a new or younger vehicle is to be registered and insured. At the latest when the affected policyholders hold the letter in their hands, they feel the desire to change car insurance. There must be better providers! Exactly those exist, but in the end the convenience of many Swiss people spreads and prevails. The few francs more are paid, the worst anger is gone? and reappears at the latest next year at the same time.

Comparison shows: high price differences make a change necessary

The difference between the premiums of the individual car insurers is large, as the comparison shows NZZ on Sunday Published August 28, 2021. The differences can be up to 60 percent if you compare the provider with the best conditions (Postfinance) and the most expensive contracts (Allianz and Generali). A Swiss man was taken as a basis here, male, 35 years old and the owner of a middle-class car. He should pay 575 francs a year for the cheapest insurance, but more than 900 francs for the most expensive.

The differences become even more apparent when a Swiss citizen with a foreign passport wants to insure a car. Here, however, even the cheapest providers are far more expensive, the differences are more evident when comparing a person with a Swiss and a person with a foreign passport. A Swiss citizen with a foreign passport has to pay between 400 and 600 francs a year.

The price differences show that it makes sense to compare prices at least once a year and then not only consider that switching would help you save, but actually switch. Why are the Swiss so lazy? are not shown by the comparisons and studies. It is assumed that a share of just five percent of the insured will actually change in the end and not only intend to do so.

Conclusion: The will is there, but nothing more

Every year, the Swiss grumble about increases in premiums if they stick with their insurance company. If you register a new vehicle and want to take out liability insurance for it, you do not face the problem, of course, because the premiums for newly registered vehicles have been falling for years. Otherwise, it can be said that the scolding remains, because only a small proportion of the insured really want to change. However, it is not known whether it is due to the effort involved in comparing providers and having to actively deal with the switch, or whether there are other reasons for the unwillingness to switch.

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After the claim has been settled: Can the car insurance company terminate the contract after the claim has been settled?

After the claim has been settled: Can the car insurance company terminate the contract after the claim has been settled?

A case study: Motorist Meyer caused three damage to his car. On the one hand, he brushed past another car in the parking lot, on the other hand, he braked too late at the traffic light and hit the rear of the vehicle in front. The third damage resulted from carelessness in relation to the right of way of another car. Now the insurance company has sent the notice and Mr. Meyer asks himself: Is she allowed to do that?

Auto insurance may terminate an insured

The case of Mr. Meyer is an isolated case, it is not for nothing that people like to ask before concluding a new insurance contract whether the previous insurance was canceled by the insured person himself or by the insurance company. In the event of damage, the car insurance company takes over the damage and usually pays without hesitation. But after that she has the right to terminate the contract. However, there is a deadline for this termination: it must take place at the latest when the payment for the settlement of the claim is made. The premium that has already been paid for the current insurance year will be recalculated and reimbursed. The notice period is usually between two and four weeks, within which time the (former) insured person must have found a new insurance company. Until then, the car is still insured.

Various factors lead to termination

There is no clear rule that makes it clear when exactly the cancellation will be made by the insurance company. The fact is, however, that this usually does not happen after a single damage, but that the insurance has been claimed more often. However, there is no fixed number that the insurers name and from which termination is conceivable. Some react in this way after a single claim, while others wait for several claims before reacting negatively for the insured.

An accommodating car insurance company will always try to find an amicable solution first. A so-called contract restructuring may be proposed, in which the insurance contract is adjusted. Perhaps a higher deductible is agreed, and in some cases certain damages are completely excluded from a service. If both sides cannot agree, an ombudsman can also be called in. If agreement is still not possible, there is usually no choice but to dissolve or terminate the contract.

A new insurance as a problem

It is no coincidence that insurance companies ask before concluding a contract whether the previous insurance policy was canceled or whether the insurer terminated the contract. No insurance company probably wants to manage cost-intensive policyholders. It can therefore be quite difficult to take out new car insurance. If one is then found, it can be very expensive, because many insurers protect the risk of a possible claim for damage with higher premiums. True to the motto: what you have, you have! As a result, those who earn more can also spend more. However, not all insurance companies act in this way, so it often makes sense to hire an independent insurance broker. On the one hand, he has the necessary experience and, on the other hand, he knows ways of using discounts to reduce premiums that may be too high.

Conclusion: A lot of damage and the insurance company can cancel

Even if many car owners cannot believe it: Car insurance can actually be canceled if several claims are reported and settled. Usually, the notice of termination comes with the last payment. This is legal and makes the search for a new insurer extremely difficult. The reason is simple: many insurers do not want anyone in their ranks who obviously incurs high costs. Only by intensively comparing and filtering offers can you find cheap insurance.

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Movement in car insurance: Premiums continue to plummet

Movement in car insurance: Premiums continue to plummet

Comparing car insurance is now more important than ever. Because: The premiums of the individual insurers have been falling for several years. Not for everyone, however, and if you remain loyal to your insurance company and continue to pay the premiums, you can certainly pay a few hundred francs more compared to cheap car insurance.

Car insurance premiums continue to go down

More and more car insurance providers, ever lower premiums: This is the conclusion after looking at the average premiums. If you compare the last three years, you can see that premiums have fallen by around 15 percent (sometimes even more). This means that the pressure on insurers is high, but not everyone is giving in to the price war. Quite a few are sticking to their high premiums, clearing the way for direct insurers who offer high margins for low premiums. It is quite noticeable that new providers are still entering the market. Thanks to modern Internet offers and lean administration, they are able to offer cheap premiums for car insurance.

It is interesting that the individual vehicle classes sometimes differ greatly. The vehicles that are assigned to the upper middle class can currently be insured particularly cheaply? A good insurance comparison is of course provided. Fully comprehensive insurance is also cheaper for these vehicles than for many others, which have a significantly lower new value. Mid-range vehicles and small cars, for example, are showing relatively small premium declines, so that the insured cannot save quite as much here. Which of course does not mean that saving is not possible here! However, the differences between the providers are smaller, so the comparison is more complex.

So the premiums have gone down

So what explains why auto insurance premiums have fallen over the last three years? Experts assume that the increased competitive pressure is the main reason for the premium reductions. On the one hand there are car owners, who have (and use) more and more opportunities to obtain information. You compare more closely and then just switch to the cheaper provider. On the other hand, insurance providers are also taking advantage of the digital possibilities and processing claims digitally. You need fewer staff, the entire administration is streamlined. This in turn means lower costs and the ability to pass some of the cost savings on to policyholders. In turn, the insured are happy and the corresponding providers are recording higher growth rates.

Many insurers only offer their products online and are fully committed to digitization. This makes work a lot easier, everything is possible automatically. At this point, too, this means that fewer staff are required. Some of the few employees have even been in the home office for more than a year, which in turn reduces office costs.

Another reason could be held responsible for the falling premiums. Since the beginning of the corona pandemic, people have traveled far less by car. As a result, fewer accidents happened and therefore a smaller number of claims had to be settled. The insurers have not booked everything as net profit, but are therefore able to reduce the premiums for the insured. However, it remains doubtful whether this reason will continue in the near future, because people's mobility has long since returned to the pre-corona level.

Conclusion: Cheaper premiums in car insurance possible

If you want to save, you have to compare car insurance every year and ideally switch to the cheapest provider. It has never been easier to find a cheap insurer, because the premiums are falling for almost all insurance companies. So it is important to make a comparison year after year and switch to the provider who, for example due to ongoing digitalization and further cost savings, can pass the latter on to the insured person.

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Accident as the driver of a third-party vehicle: who is liable for damage?

Accident as the driver of a third-party vehicle: who is liable for damage?

Driver license holders in particular want to get in the car and just drive off. Or someone is visiting and didn't come by car: quickly borrow the car from the host and go on the planned excursion! However, not only should the vehicle owner carry a permit with them, but the question of insurance should also be clarified.

Occasional trips properly secured

Oops: I didn't pay attention for a moment and it happened! The car only brakes when the car in front bumps into it at the traffic light. The damage is small, but the question of who will take on this now must be clarified. The vehicle owner or the driver? The answer is simple: whoever caused the accident must also pay for the damage. It's all good if he has private liability insurance, because here the ?driving of someone else's motor vehicle? be secured. Such personal liability insurance is usually taken out as part of household contents insurance. Experts also refer to this protection as "third-party driver insurance". If the insurance is structured accordingly, it will cover the following costs:

    • repair costs
    • deductible
    • any bonus loss of the driver

Regular foreign drivers have to insure themselves differently

The above only applies when a driver occasionally drives another vehicle. However, if he or she drives a rental car regularly, the small addition to the third-party driver insurance is no longer sufficient. The insurance companies assume regularity if the vehicle is rented on at least 25 days a year. In addition, third-party driver insurance does not apply if a vehicle is borrowed from a roommate from the same household. The number of days doesn't matter either.

Important for foreign drivers: The owner of the vehicle can assert his damage against the third-party driver, which means that he is fully liable for it. Separate insurance is therefore strongly recommended. The insurance side then looks like this:

If you have fully comprehensive insurance for the rented vehicle, this covers the damage to the car in question. The deductible and any bonus are charged to the vehicle owner, but the third-party driver is liable for this. Third-party driver insurance is important here in order not to be prosecuted financially.
However, it becomes significantly more expensive if only liability insurance with possibly additional partial coverage has been taken out. The same applies here: Separate insurance is highly recommended as security! Nevertheless, the person who caused the accident and the driver of the borrowed vehicle will incur costs in any case, because third-party driver insurance usually requires a deductible. This is often set at 500 francs.

Conclusion: Well-secured third-party drivers

Here is a summary of everything that is important: If you occasionally rent a vehicle and drive it (less than 25 days a year), you can add the supplement to ?driving other people's vehicles? to record. However, with regular third-party use (from 25 days a year), comprehensive insurance should be available for the vehicle.
If you rent a car, on the other hand, you should take out travel insurance that also includes assistance cover. However, this often comes with a deductible. Third-party driver insurance integrated into personal liability insurance does not cover damage to a rented car!

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Common mistakes of the insured: That's why car insurance is so expensive

Common mistakes of the insured: That's why car insurance is so expensive

Motor vehicle liability insurance must be taken out before the new vehicle can be registered at all. And then? Most car owners are annoyed by the high premium every year, but ultimately they are too lazy to think about changing insurance. But if you want to save money, you can't just let the car insurance continue, you have to compare offers and consider a timely change.

The most common mistakes that make car insurance expensive

The following overview shows where car owners make mistakes most often and regret this with a surcharge for car insurance:

    • Stay with the insurance
      We have already mentioned that if you remain loyal to your insurance company, you have to reckon with the fact that it will be expensive. Most insurers increase the premiums bit by bit, so that they are a little higher every year. If you don't compare and switch to a cheaper provider, you have to accept paying significantly more.

    • Sign long-term contracts
      Car owners often look for ways to get a discount when they sign their new car insurance contract. Insurers are happy to grant this by keeping you with the insurance company for as long as possible. At first glance, multi-year contracts appear to be lucrative, as they appear to mean savings. A fallacy, because while other insurers are reducing premiums next year, they will remain the same with their own provider. And without the option to cancel and switch to a cheaper provider!

    • missed deadline
      There is a fixed termination date for termination. Anyone who does not comply with this (usually three months before the end of the contract year) must expect an extension of the contract. This extension usually refers to a further year. Some providers have shorter deadlines. Termination before the end of the contract is not possible, but can be submitted. However, it only becomes valid at the regular expiry of the contract. An early termination of the contract is only possible in certain cases (e.g. change of vehicle, increase in premiums or damage).

    • Take out additional insurance
      Car insurers are happy to offer small supplements: passenger accident insurance or insurance for towing in the event of damage. However, most supplementary insurances are included in other insurances. An additional insurance for the vehicle occupants is only necessary in the rarest of cases, whoever has a TCS membership does not have to agree any assistance coverage. The seemingly cheap little additions cost a lot of money!

    • Fully comprehensive insurance for old vehicles
      Fully comprehensive insurance is undoubtedly useful and ensures that damage to the car you cause yourself is also covered by the insurance. But from a certain vehicle age (depending on the new value of the car), comprehensive insurance is no longer necessary. It should only be continued by vehicle owners who frequently cause damage to their own car or who drive a very expensive car. Otherwise, it is usually cheaper to pay for a repair yourself and to do without comprehensive insurance. However, partial coverage should be continued.

    • Ignore fine print
      An insurance contract has so many sides! Who reads through all of them? Most policyholders compare the data they provide about themselves and the vehicle with those mentioned in the insurance contract. If everything is correct here, the contract will be filed. But the general terms and conditions often contain points that are very important. An example of this is the bonus level system, which shows how much the premiums increase in the event of a claim. This system varies from provider to provider. Some even waive an increase in premiums if it is the first damage that has been reported since the conclusion of the contract. Roadside assistance is sometimes included and sometimes not. If you ignore the fine print, you have to accept paying more.

Conclusion: Reading and comparing the contract helps to save

If you want to save on car insurance, you should definitely compare the offers and preferably regularly. The notice period should be kept in mind, because if it is exceeded, the contract will be extended. More activity as an insured person helps to save money!

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