All-risk insurance

Do you have a new car? Or is your car less than 6 years old? Then you can choose all-risk insurance (or: WA + fully comprehensive insurance). This is the most extensive type of car insurance. That is why the premium is also higher than for third-party liability insurance (WA) or limited casco insurance. This page describes the situation in the Netherlands.

What is all-risk insurance?

All-risk insurance is the vehicle insurance with the most extensive cover. Although 'all-risk' suggests that all risks are covered, this is not the case. Most damage to others and to your own vehicle is covered. All-risk insurance is sometimes also called WA + fully comprehensive insurance (WA+ volledig casco).

The term 'WA + fully comprehensive insurance' may be a little confusing. It contains the term 'WA', and we know that WA is compulsory. Yet fully comprehensive insurance or all-risk insurance is not compulsory. It is an extra, additional insurance. But if you take out WA + fully comprehensive insurance, you are automatically also covered by third-party liability insurance (WA).

Choosing all-risk insurance

The choice between all-risk insurance and other cover depends on a number of factors. The most important factor is the age of the car. A very young car (up to 6 years) is best insured all-risk. After that, it is more sensible to insure the car for limited damage (WA + limited casco insurance). When the car starts to get a bit older (10 years or older), only the compulsory third-party liability insurance (WA) is still necessary.

Besides the age, a number of other factors play a role, such as the value of the car. For this, you can consult the ANWB/Bovag Koerslijst (a Dutch price guide for used cars). The number of no-claims years also counts, as does the risk you can and want to bear in the unfortunate event of a total loss of the car. In addition, it is advisable to consider all-risk cover if the car has been financed with a loan that has not yet been paid off.

Price of all-risk insurance

All-risk insurance comes with a hefty price tag. That makes sense, because it is the most extensive car insurance there is, although this insurance can still be extended with additional cover. What the exact price is cannot simply be said in any case. After all, the price calculation is particularly complicated, and a number of factors will determine it.

Insurers that offer all-risk insurance

Almost all major insurers offer all-risk insurance. It is therefore a popular insurance with everyone who buys a new car. Each insurer has its own acceptance requirements, and the exact details of the insurance can also differ. We have put the most important information on one page and also give an overview of the main all-risk insurers in the Netherlands. Most Dutch insurers offer their website and policy documents in Dutch only.

All-risk insurance cover

As mentioned, all-risk insurance is the most extensive car insurance. As a result, the premium is often higher than for third-party liability insurance (WA) or WA + limited casco insurance. On the other hand, the cover is also more extensive than with the other types of cover mentioned.

All-risk insurance covers, among other things:

• Damage to others
• Theft and break-in
• Window damage
• Storm damage
• Fire damage
• Damage you cause yourself
• Vandalism damage

Exclusions

Not all damage is covered by all-risk insurance. A number of exclusions apply. For example, the insurer will not pay out if the driver does not hold a valid driving licence, causes damage intentionally or through reckless behaviour, or uses the vehicle for hire, racing or commercial passenger transport. Damage caused by rust or wear and tear is not covered either. Because driving under the influence of (too much) alcohol or drugs is a criminal offence, this is also excluded from the insurance.

The insurer may have come up with even more exclusions for the insurance. All these exclusions can be found in the policy conditions of the insurance.

Options

With most insurers, it is possible to extend the insurance. Think, for example, of no-claims protection and the new value scheme. With no-claims protection, you can still make a claim without dropping down the no-claims ladder (bonus-malus ladder). This means you do not have to pay a higher premium after damage.

The new value scheme (nieuwwaarderegeling) is an arrangement that ensures that, in the event of a total loss, you get enough money back from the insurance to buy a car comparable to the car you had. You agree this arrangement for a certain period. This is often a period of 3 years or less. The insurer pays out when the cost of repairing the car is higher than the current value of the car.

When there is damage

In the event of damage, all-risk insurance also covers you for damage to your own car. Anyone who makes a claim on their insurance drops down the no-claims ladder (bonus-malus ladder). This means the insured person will pay a higher premium in the following years, because they drop back in no-claims years. You may also have to pay an excess.

Do you have all-risk insurance and do you make a claim that falls under the limited casco part of the insurance? In most cases, you then do not drop down the no-claims ladder. The premium then stays the same. In these cases, too, the insured person may have to pay an excess.

Replacement transport

Suppose you have to deal with the total loss of, for example, a car due to storm damage. With all-risk insurance, more events are covered than with limited casco insurance. The insurance company will then offer you a contribution, or provide replacement transport (usually a replacement car) free of charge.

Comparing all-risk insurance

Let it be clear that there are big differences between the cover offered. In fact, each insurer applies its own conditions, which is why car owners would do well to compare the cover carefully. Many factors play a role here, and acceptance requirements may sometimes apply, which means not every all-risk insurance policy is an option. In any case, it is not a good idea to only look at the price.

Switching to a different all-risk insurer

When comparing all-risk insurance, it often turns out that another insurer is financially more attractive. The market is incredibly competitive, and many insurers run special promotions or discounts to attract new policyholders. Still, there are also a number of important points to watch out for. Because of this, switching is certainly not always the best idea.

Saving on all-risk insurance

By comparing all-risk insurance and switching if necessary, it is possible to save a considerable amount on the premium. Even so, it is not always necessary to switch to another all-risk insurer to do so. A few small changes can often already earn you a nice discount. We have summarised the most important tips for saving money on one page.