When we buy a new car, one of the things we have to think about is to whether or not take out an ‘all-risks’ insurance policy. We highly recommend it. The value of a car at the time of the purchase is very high, but in the event of an accident, these damages can affect your economy, or you can even lose your vehicle if the damages are insurmountable. But if you take out an all risks insurance policy, the insurer company can pay you for the damages, and in the event of a total loss, the original price of the vehicle.
An ‘all-risks’ policy constitutes the best protection in these cases, but in case you want to lower the premium, you can take out a Motor Insurance policy with Franchise clause.
Do you know how it works? You can save money by taking out this type of policy.
A franchise is an amount (or percentage) of money agreed between you and the insurer: €100, €150, €300…
This amount will be borne by you, and the rest will be paid by the insurer. For example, if you suffer an accident, and repairing the damages has a cost of €2,500, and you have a franchise deductible (excess) of €150, you will pay this amount, while the insurer will pay the rest (€2,350).
This is a way for you to have insurance with all coverages and a significantly lower premium at the same time. It is also very important to take into account that not all guarantees are affected by this franchise deductible (or excess).
We are experts and professionals of the insurance sector, and we can offer you a wide variety of products and options among the different companies in order to find the one that best suits you and your needs. We are your best insurance comparator, always standing up for you, defending your rights and giving you the best advice. Ask us.
