What does teilkasko insurance cover and is it worth getting?
Teilkasko insurance is a middle ground between liability insurance and comprehensive (Vollkasko) coverage, protecting against damages not caused by the policyholder.
Unlike liability insurance, Teilkasko covers damages to the policyholder's own vehicle, such as those resulting from theft, vandalism, natural disasters, or collisions with uninsured drivers.
Premiums for Teilkasko policies are typically lower than those for Vollkasko, making it a more cost-effective option for owners of moderately valued vehicles.
Teilkasko coverage is mandatory in Germany only when combined with a basic liability insurance policy, providing a baseline level of protection.
Some Teilkasko policies may include additional benefits like roadside assistance or a replacement vehicle, depending on the insurance provider.
The cost of a Teilkasko policy can be influenced by factors such as the vehicle's make, model, and age, as well as the policyholder's driving history and location.
Insurers may offer discounts on Teilkasko premiums, such as loyalty rewards or reductions for low-mileage drivers, to incentivize customers.
In the event of a covered claim, Teilkasko policies typically reimburse the policyholder for the cost of repairs or the market value of the vehicle, minus any applicable deductibles.
Teilkasko coverage does not protect against damages caused by the policyholder's own negligence or intentional acts, as these would be considered the driver's responsibility.
Compared to Vollkasko, Teilkasko policies generally have a lower maximum payout limit, which could be a consideration for owners of high-value vehicles.
Some insurance providers allow customers to customize their Teilkasko policies by adding or removing specific coverage options, tailoring the protection to their individual needs.
In Germany, Teilkasko insurance is subject to value-added tax (VAT), which is currently set at 19% and is included in the overall premium cost.
Insurers may offer digital tools and mobile apps to help Teilkasko policyholders manage their coverage, file claims, and access additional services.
The German Automobile Club (ADAC) recommends Teilkasko as a suitable option for drivers of vehicles older than 4-5 years, as the premiums are typically lower compared to Vollkasko.
In the event of a total loss, Teilkasko policies may provide a replacement value or an agreed-upon value, depending on the specific terms of the insurance contract.
Insurers may consider the policyholder's driving behavior, such as speeding tickets or at-fault accidents, when determining Teilkasko premiums, as these factors can impact the risk profile.
Teilkasko policies generally do not cover damages caused by racing or other high-risk activities, as these would be considered outside the normal scope of vehicle use.
Policyholders may have the option to increase their Teilkasko deductible in exchange for lower premiums, but this could result in a higher out-of-pocket expense in the event of a claim.
The German government's "Umweltbonus" (environmental bonus) program, which provides subsidies for the purchase of electric vehicles, does not affect the eligibility or cost of Teilkasko insurance.
Insurers may offer discounts or special rates for Teilkasko policies bundled with other insurance products, such as home or life insurance, to provide customers with a more comprehensive coverage package.