Lending a car: are you insured for damage? – Wise Men of Gotham
Do you have a car at the door? There is a good chance that you have lent it to friends or family. And that will generally not cause any problems. Unfortunately it can sometimes go wrong: that good friend accidentally damages him. Annoying. Are you actually insured for this?
Car insurance on license plate
Whether it is a trip to the supermarket or a road trip abroad: an accident is always in a small corner. What does the car insurer cover when someone else breaks down with your car?
A car insurance policy is always taken out on the license plate of the car. It does not matter who drives your car. That good friend who has borrowed your car is simply insured with your car insurance. A condition is that the person has permission to drive your car and is in possession of a valid driver’s license.
Damage by someone else?
Suppose you have lent your car to someone else and that is driving damage? In that case, the coverage of your car insurance is therefore considered. With a liability insurance you are insured for damage caused by others. Does a good friend suddenly hit a stake and your car is damaged? Then this is not covered by the insurer. Are you covered by a third-party liability insurance or fully comprehensive insurance? In that case, damage to your own car will be covered.
Claiming or not claiming damage
Claiming damage has consequences for your claim-free years. This is also the case when you lend your car and damage is being driven. You therefore descend on the bonus-malus ladder. And that means that you get less discount on your premium.
Is it about minor damage to your car? It may be wise not to claim this and to pay for it yourself. You will therefore not fall back on the bonus-malus ladder and you will not pay more premiums. You will often end up cheaper than if you do claim the damage.
Damage to your car is of course annoying enough. A discussion afterwards about who will pay what is just as annoying. Therefore, make clear agreements in advance with the person to whom you loan the car. In the case of car damage, the owner always pays for the costs. You can, of course, agree in advance that the other party will pay part of the damage.
Lending to son or daughter?
Do you sometimes lend the car to your son or daughter? Then this does not necessarily have to be a problem for your insurance. This is not the case when your child drives your car more often than you do. You must then indicate this to the insurer. Motorists up to 24 years old are seen as a risk group. This can cause your premium to rise.
Also not unimportant to mention: does your son or daughter – who is younger than 24 – drive damage in your car? Then there is often an extra deductible.
Extra well insured
Always ensure that you are properly insured. Do you also want to be insured for damage to your own car? Then opt for a WA + limited airframe or all-risk insurance. You can also opt for passenger insurance. With this you insure yourself and your fellow passengers if something happens on the way.
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