Casco insurance is insurance for motor vehicles and pleasure craft. It covers damage to these vehicles themselves, but not damage to third parties. For that, you need third-party liability insurance (WA). This page describes the situation in the Netherlands.
So what exactly can you do with casco insurance? And what is the difference between third-party liability insurance (WA) and limited casco or fully comprehensive (all-risk) insurance? What should you look out for when you make a claim?
What is casco insurance?
Casco insurance pays for damage to your own car. This damage may have been caused by the driver or by other people. Damage you cause yourself could be, for example, driving into a bollard. Damage caused by others could be, for example, someone opening their door into your mirror while your car is parked. There is also cover for damage from sudden external events (in Dutch: ‘van buiten komend onheil’). In general, there are two types of casco insurance: limited casco and fully comprehensive (all-risk). We explain the differences between these two types of cover on this page.
How much does casco insurance cost?Starting at the beginning: third-party liability insurance
Third-party liability (Wettelijke Aansprakelijkheid) is the compulsory minimum cover that the owner of a motor vehicle must take out. It covers the damage that you may cause with your car to other people and their property, for which you are then legally liable. The damage is also paid for if someone else is driving your car. Damage to your own car is not covered by this policy. This cover is often chosen by drivers with a vehicle that is ten years old or older. Do not confuse this insurance with ‘WA-casco’ insurance: that is another name for limited casco insurance.
Limited casco insurance
As we just explained, third-party liability insurance (WA) is not casco insurance. To complete the picture of car insurance and motorcycle insurance, we explain this type of insurance once more. Real casco insurance starts with limited casco, also known as "third party, fire and theft plus". It is mainly taken out for cars between six and ten years old. It covers damage caused by fire, hail, storm, theft, broken windows or a collision with animals. Everything covered under third-party liability (WA) is also included in limited casco. Damage to your own car that is your own fault is not covered by limited casco. Some insurers have split the cover into three modules: theft, broken windows, and fire, storm and natural events. What limited casco costs exactly depends on the casco insurer. There are also various ways to save on casco insurance.
Fully comprehensive insurance
Do you have a new motor vehicle? Then the option ‘fully comprehensive’ is worth considering. Most new vehicles up to five years old are insured with fully comprehensive cover. This insurance covers not only the damage you cause to others, but also the damage you cause to your own car. Of course, the damage must have been caused accidentally. Intentional damage is always excluded.
Older cars can also be insured fully comprehensive. That way, you can be sure that you can buy the same car again after a claim. Fully comprehensive cover is sometimes also called ‘all-risk cover’. This is the most extensive cover. The premium is therefore higher than the premium for limited casco.
Exclusions
In certain cases, the insurer pays nothing. These are called ‘exclusions’. For example, the insurer pays nothing if the driver does not have a valid driving licence, if the damage was intentional, if the car was driven recklessly, or if the vehicle was rented out, used for racing or used for transporting passengers for business. Damage from rust or wear and tear is not covered either. Anyone who drives under the influence of alcohol and/or drugs can expect the insurer to reject the claim.
More information about exclusionsAfter a claim
Have you made a claim? Then that affects your premium. Your premium is based on the no-claims ladder (bonus-malus ladder). In other words: you drop back in your number of claim-free years. Anyone with fewer claim-free years pays a higher premium. In addition, the insurer may also apply an excess. If you have all-risk insurance, but make a claim that also falls under the limited casco part of the policy, you do not drop back on the no-claims ladder. Your premium then stays the same (unless you switch to another casco insurance policy). You may, however, have to pay an excess.
Replacement transport after damage?
In some cases, the insurer arranges replacement transport after an incident. With limited casco, the type of incident is very important: it determines whether you are entitled to replacement transport. Often it has to be a total loss, for example due to storm damage. All-risk insurance already offers somewhat more cover against various events. With that kind of cover, the insurance company more often offers a contribution towards the costs or a replacement car.
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Frequently asked questions about casco insurance
Does casco insurance always have an excess?
Yes, casco insurance has an excess. This is a fixed amount that you pay yourself when you make a claim. The insurer pays the rest of the damage. How high the excess is depends on the policy. You can find it in the policy conditions.
Unlike with health insurance, you pay the excess for each claim you make. So with a new claim, you pay the excess again.
What is the difference between new value and current value?
The current value (dagwaarde) is the amount a car is worth at the moment its value is determined. Various factors are taken into account. These include: the list price,
the age of the car,
the make and model of the car,
the mileage,
accessories and
the general condition of the car.
Other things matter as well. Even the colour of the vehicle can affect its current value.
The new value (nieuwwaarde) is the value of the car if you had to buy it again. Some insurers offer an arrangement for this in their car insurance. For a certain period, the policyholder receives the new value if the car is written off. This period usually varies from 1 to 3 years.
It is also possible to insure the car for its purchase value. The condition is that the purchase value has a ceiling. For example, you can insure a car up to €50,000 if you bought it second-hand. Here too, the purchase value applies for a certain period.
When is it a good idea to take out casco insurance?
Taking out casco insurance is a good idea if the car is between 6 and 10 years old. You can insure the car more extensively with extended casco insurance (also called all-risk cover). As standard, a car must be insured for at least third-party liability (WA). It is always sensible to compare casco insurance policies.
Is it a good idea to take out extended casco insurance for your holiday?
If you go on holiday, you can choose to take out holiday casco insurance. This is especially attractive for policyholders who only have third-party liability insurance (WA). You then insure yourself for the period that you go on holiday with the car. This covers the risk of damage to the car during the holiday. Most insurers only offer this cover for cars that are no more than ten years old. Often the condition is that you already have a third-party liability policy (WA) with the same insurer.
Are all accessories covered?
Accessories are covered under limited casco and fully comprehensive insurance. These policies usually offer standard cover for accessories up to a total of €1,250.
There are two types of accessories: ‘factory-fitted accessories’ and ‘extra accessories’. The first type is already in the car when it leaves the factory. Think, for example, of an audio or navigation system. Their value is then already included in the list price.
It is also possible to insure ‘extra accessories’. These are accessories that were fitted later. Think of a better audio system, more expensive wheel rims or a separate sunroof.
The value of all these accessories quickly exceeds €1,250. That is why you can increase the amount by €2,500, €3,500 or €5,000. You will then pay a higher premium.
Loose accessories, such as a separate navigation system, are not covered by casco insurance, because they are not built into the car. Instead, these accessories fall under home contents insurance.