You have just bought a second-hand car. A used one, then (or third, fourth, etc.). Of course, you want to insure your ‘new’ purchase well. But what kind of insurance is best suited to your car?
Public liability insurance
WA stands for liability. With WA insurance, you are covered for personal injury and material damage to others if you cause an accident yourself. In the Netherlands, WA insurance is legally required. If you drive around uninsured and cause an accident, the financial consequences are often unmanageable.
WA + limited hull
A WA insurance only covers damage you cause to others. If you also want to be insured for things like theft, damage from natural causes, and broken windows, you can take out WA insurance plus limited casco, or ‘WA-plus’ for short. This insurance also covers certain damage to your own vehicle, unless caused by yourself. Most older cars (>5 years old) in the Netherlands are insured this way.
Does your car have a limited resale value? In other words, is your car more than ten years old with a high mileage? Then it may be wiser to simply take out third-party liability insurance (WA-verzekering) and keep some savings aside.
Seguro a todo riesgo (con franquicia)
If you have a nearly new used car (current value), you will at least be reimbursed for its current value. This allows you to purchase an equivalent car. If your car is less than one year old, most insurance policies will even reimburse you for the new value.
The three insurance policies mentioned above increase in premium. Your premium is further influenced by the number of years of no-claims, your no-claim discount, and by any excess you may have. It is often more advantageous to pay for minor damage out of your own pocket (or not to claim) to maintain your no-claim discount.
What kind of car do you have (age, mileage)? And how have you insured it? Let us know in a comment!
