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All-risk or third-party insurance: which one to choose?

All-risk or third-party insurance: which one to choose?

We can never remind you enough: car insurance is not only required by law, but also very useful in case of damage. For a monthly or annual contribution, your car but also your passengers and yourself are covered in the event of an accident.

If you call to take out a new contract, a car insurance company will offer you several rates with different levels of coverage. The two main types of contracts are third-party insurance and all-risk insurance, both with variations depending on the company, such as for Leocare car insurance.

Which type of formula to choose? How to find it? Is it better to spend more or, on the contrary, to save money every month? Here are our tips for choosing the best.

Third party insurance, a financial formula

As motorists’ budgets increase, with the prices of new and used cars, as well as fuel prices, it can seem tempting to save money on car insurance.

The most attractive insurance formula in terms of price is compulsory car insurance or third-party insurance. This will cover damages caused to a third party if you are involved in an accident for which you are identified as the responsible driver. This means that if, for example, you run a red light and cause an accident with another car, the repairs to that car will be covered by your insurance. But the repair of your own car remains at your expense…

With third-party insurance, it is therefore essential to be a good driver to avoid an accident where you find yourself responsible. The loss of control of a car is always possible with poor grip caused by the weather or the road in poor condition…

This third-party insurance formula may be suitable for good drivers, but the latter will still be the ones who can benefit from all-risk insurance at the best price!

Because in France, the size of your insurance premium depends on the famous bonus-malus system.

If you are injured, third party insurance may be the only formula offered by an insurance company that will not necessarily take the risk of covering you more.

Third party insurance may be accompanied by cover for certain risks, such as fire, glass breakage or theft. This will depend on the insurance companies and the formulas offered.

Therefore, to limit the risk of financial loss, it would be advisable not to choose a third-party formula for a car whose value is significant.

All-risk insurance, the most comprehensive coverage

Unlike third-party insurance, the all-risk formula will cover damage to your vehicle even if you are responsible for the accident.

If your car has a high financial value, it is important to insure it well. Because in the event of an accident, the cost of repairs can amount to several thousand euros, or even the total value of the car if it is declared beyond repair.

All-risk insurance therefore provides a reassuring level of security, with a wide range of risks covered: accidents, theft, fire, vandalism, glass breakage, natural disasters, but also assistance in the event of a breakdown or even legal assistance.

The price of all-risk insurance is logically more significant than third-party insurance: it varies in fact and on average from single to double for the same driver, vehicle and residential address.

This formula is recommended for cars of a certain value, but also when you can afford it. In the event of a problem, whatever it may be, you will be duly covered and reimbursed.

The price of this formula can decrease with limited annual mileage packages or by increasing the deductible amount in case of damage. You will also be able to save money by choosing a model that is not overwhelming but economical and by increasing your bonus to the famous 50% bonus. The key: drive carefully to avoid causing the slightest accident…

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