How to properly insure a vehicle over 10 years old?

How to properly insure a vehicle over 10 years old?


Has your car been in service for a long time? Whether you just bought it or not, if it is over 10 years old, the insurance question arises. Beyond a certain seniority, certain guarantees become less relevant. But not all of them.

    When you buy a car that is more than 10 years old, do you have to have it insured?
    Third party insurance / comprehensive insurance: what is the best option for a vehicle over 10 years old?
    When a vehicle ages, when to switch from comprehensive insurance to third party insurance?

How to properly insure a vehicle over 10 years old?
When you buy a car that is more than 10 years old, do you have to have it insured?

Yes ! Failure to do so puts you at risk of a fine of 3,750 euros, a three-year license suspension and confiscation of your vehicle. And this, even if it does not circulate or very little.

The minimum required by law is the liability cover present in all auto insurance contracts, including third party insurance. It only covers bodily injury and material damage caused to third parties in the event of an accident and does not cover damage caused to the insured vehicle and its driver.

To be better protected, two solutions exist:

    Add guarantees to the insurance contract, such as theft, fire, glass breakage guarantees
    Take out comprehensive insurance, the most comprehensive auto insurance formula that covers all accidental damage to the vehicle.

Third party insurance / comprehensive insurance: what is the best option for a vehicle over 10 years old?

More comprehensive, all-risk insurance is also more expensive than third-party insurance.
However, compensation in the event of claims depends on the value of the vehicle and this decreases significantly over time and the kilometers traveled (the only exception: vintage cars, for which there is special insurance).

Comprehensive insurance is therefore not necessarily attractive for protecting property over 10 years old, as the compensation received in the event of a claim may appear low compared to the amount of the premiums or the insurance contribution. Third party insurance may be preferable.

However, if your vehicle still has a certain value and / or your financial means do not allow you to repair it or re-equip yourself in the event of a responsible accident, it may be useful to supplement the third party insurance contract with additional guarantees. Do not hesitate to inquire and seek advice from your insurer.
When a vehicle ages, when to switch from comprehensive insurance to third party insurance?

The milestone of 10 years is symbolic, because from this age, the value of the vehicle is often low.

However, each case is specific, because everything depends on:

    The make, model and condition of the vehicle (despite the discount, some cars retain value ten years after being put into service);
    Financial capacity of the owner.

In general, if you feel that the ratio between the financial effort linked to the insurance of your car and the compensation to which you can claim in the event of a claim is no longer satisfactory, then it is time to replace your all-risk insurance contract by a third-party insurance contract.

Before going downmarket, read your contract again: certain all-risk formulas compensate for the theft or total destruction of vehicles on the basis of a minimum value which may be greater than its real value at the time of the loss.