When you take out car insurance with us, there are several additional cover options you can choose from, such as extended purchase value or extended replacement value. Read more about these cover options below. See for yourself whether it’s worth extending the replacement or purchase value cover.
If your car is under one year old and the list price does not exceed €100,000, your policy with us comes with replacement value cover. This means that in the event of total loss or theft, the insurance will pay out the car’s replacement value, so that you can buy the same car, even if the price has gone up. Replacement value cover applies until one year after the date on which you first drove the car. This date is stated on the car’s registration document.
You can extend the replacement value cover by one or two years. In other words, you can insure your car for the replacement value for a maximum of three years. You can select extended replacement value cover for your new car when you first take out car insurance.
If your car is more than one year old, but under six years old, and the list price does not exceed €75,000, your policy comes with purchase value cover. This means that in the event of total loss or theft, the insurance will pay out the amount you paid for the car when you bought it. This is particularly useful if you own a used car. Purchase value cover applies up to one year after the effective date of the car insurance policy, and for a maximum of six years after the first time you drove the car. This date is stated on the car’s registration document.
You can extend purchase value cover by one or two years when you first apply for car insurance. In other words, you can insure your car with purchase value cover for up to three years.
