Frequently asked questions about car insurance (FAQ)
What types of insurance are required for a car?
- Motor vehicle third-party liability insurance: Required by law. It covers damage you cause to other traffic participants.
- Partial or fully comprehensive coverage: Recommended in either case. Partial coverage protects against theft, broken glass or collisions with wildlife. Comprehensive coverage extends this protection to include damage to your own vehicle resulting from an accident that is your fault.
What is the difference between partial coverage and comprehensive coverage?
The extent of coverage for your own vehicle. Partial coverage protects you against damage beyond your control, such as damages caused by hail or martens. Comprehensive coverage includes all the benefits of partial coverage, as well as protecting you in the event of you causing damage to your own vehicle.
What documents are required for car insurance?
- Vehicle registration certificate (Part 1)
- Photo ID (ID card, passport, or driver’s license)
- Proof of ownership (purchase agreement, dealer invoice, or leasing agreement)
How is the rating determined for car insurance?
Insurance rates are determined using the bonus-malus system. This system rewards accident-free driving and penalizes claims. The rates are structured as follows:
- New drivers and individuals who have recently been uninsured start at Level 9.
- For each accident-free year, you move up one level until you finally reach the most affordable Level 0 (= no-claims discount).
- If you are at fault for an accident, this results in a downgrade of three levels (to a maximum of Level 17).
The classification also takes into account regional classes (based on accident frequency per district) and vehicle classes (which are determined by vehicle type, engine power, and theft risk).
How long do you stay in a bonus-malus tier?
For a full insurance year. Your bonus-malus tier is reassessed once a year. This is based on the assessment year, which runs from October 1 through September 30 of the following year.
How do you file a car insurance claim?
The easiest way to file a claim is through Porsche Bank’s online claims form. Please have all the necessary information ready:
- Date and location of the accident
- Detailed description of the incident
- Information about the people and vehicles involved
- Photos of the damage
- Police report, if available
What happens to your insurance when you get a new car?
When you change vehicles, your existing car insurance policy is generally transferred to the new vehicle. This means you retain your current bonus-malus tier. However, the rate may change due to the new vehicle’s type class and the resulting change in the basis for calculation.
What should you keep in mind when insuring an electric car?
An electric car is insured just like any other vehicle (mandatory liability insurance and, optionally, partial or comprehensive coverage). Due to their technical characteristics, however, electric cars require some additional specific coverage:
- Battery protection: Coverage for the battery, the vehicle’s most expensive component.
- Charging infrastructure: Damage to charging accessories and your own charging station.
- Lightning strikes: Damage caused by power surges.
- Cyberattacks: Damage caused by tampering with the vehicle’s software.