Comparing compulsory liability insurance: how to find the best offer?

How to compare compulsory liability insurance?

It is very clear that not every insurance provides the same level of coverage and service. Therefore, when comparing compulsory liability insurance, it is important to focus not only on the price, but also on other parameters. In particular, we recommend looking at the following factors.

Benefit limits

The minimum limits that are set by law are 50 million crowns for property damage and bodily injury. If you want to negotiate higher limits (for example, 100 million crowns), you can save yourself a lot of financial trouble in the event of a serious accident, but you will also pay more for compulsory liability insurance. However, some insurance companies also offer extremely high limits, for example CZK 200 million, which are more likely to be used by companies or professional drivers.

Assistance services

Each insurance company includes a different package of extra services in the compulsory liability insurance. For example, some insurers offer free basic assistance, which may include towing up to a certain distance or breakdown assistance. With other insurers, on the other hand, you will have to pay extra for assistance services. Sometimes you’ll even be offered extended assistance services, which can include a replacement vehicle or accommodation if your vehicle breaks down abroad. So when comparing third party insurance, keep an eye on what all services are included in the package.

Insurance

Adding windscreen, collision, theft or natural perils cover can extend your protection to these unpleasant situations. In addition, if you travel abroad frequently, you may also benefit from additional legal protection insurance. Other common add-on policies include luggage insurance or accident insurance for the driver and passengers. If an insurance company offers these policies as part of its basic version, you will certainly get a better deal from a comparison of compulsory liability policies.

Method of negotiation

Many drivers choose to arrange their compulsory liability insurance online because it is usually cheaper and the whole process is more convenient. Others, however, prefer a personal consultation directly with the insurance company so that they can make sure about the terms and conditions of the contract. However, by arranging compulsory liability insurance online, you will be able to compare multiple quotes in a matter of minutes. So it’s up to you what you prefer.

Bonuses and malus

Drivers without accidents get discounts from insurers, while those with frequent claims can pay extra for compulsory insurance. The no claims bonus can sometimes be as much as 50% of the cost of insurance. But what will interest you when comparing compulsory liability insurance is the fact that some insurance companies allow bonuses to be transferred between family members.

The cheapest compulsory insurance does not always mean the best

Most drivers always try to find the cheapest compulsory third party insurance, but it is important to remember that the lowest price does not always mean the best choice. The cheapest compulsory liability insurance usually only includes basic cover with minimum limits and no additional services. The best value for money, on the other hand, means that you get higher benefit limits and other benefits such as assistance services or additional insurance for a reasonable price.

So when is it worth paying extra? If you’re a professional driver, for example, or simply drive a lot of kilometres a year and also go abroad, then a higher limit of cover might actually be worthwhile. Similarly, if you are in areas with a higher risk of collisions with wildlife, it is worth taking out additional insurance against these accidents. And you’ll appreciate the free roadside assistance if you often go on long journeys.

What are the (dis)advantages of online compulsory liability insurance?

Nowadays, many people are taking advantage of the possibility to arrange compulsory liability insurance online. This is because this option naturally offers several major advantages. The first of these is a lower price, as insurance companies often offer discounts if the client arranges their compulsory liability insurance online. Another positive factor is speed. On the websites of insurance companies, you can usually arrange your compulsory liability insurance within a few moments. A huge advantage of sites that are dedicated to comparing compulsory liability insurance is the clarity and just the possibility to compare the individual offers of different insurance companies. In addition, once you have arranged your compulsory liability insurance online, you can easily modify your contract or cancel it on the website.

Of course, there are also disadvantages to arranging compulsory liability insurance online. The biggest one for many people is the impossibility of a consultation. Once you are unsure of the terms and conditions, you don’t have an advisor on hand to explain everything in detail when you arrange online. Additionally, many drivers face hidden fees, as some cheaper deals may include additional costs that you don’t notice at first, and you sign the contract with them as well. And there’s also the risk that you’ll sign an automatic contract renewal without being interested. This is because the extension is not always worthwhile.

How can I get a better deal on compulsory insurance?

If you are looking for the cheapest compulsory liability insurance, we recommend following a few simple rules.

1. Take your time and check the prices of compulsory liability insuranceregularly. They change and competition between insurance companies is increasing, so you never know when the best deal might come along.
2. Take advantage of discounts: Some insurers offer bonuses for online arranging, for example, or payment for a full year in advance.
3. Check your bonus: If you have an unblemished record, you can get a significant discount.
4. Consider switching insurance companies: Sometimes a different insurer will offer better terms than your current one, so keep checking your compulsory insurance prices and don’t be afraid to switch to a competitor if they offer better terms.
5. Always read the terms and conditions and avoid unpleasant surprises. At our law firm, we see clients who want to appeal the fact that the insurance company is charging them something extra that they were not informed about. However, we often find that the insurance company has the information in question right in the terms of the contract, so the law is on their side.

Choosing the right compulsory insurance is not just about finding the lowest price. Comparing compulsory liability insurance will help you find an option that fits both the price and sufficiently covers all possible risks on your travels. While the cheapest compulsory insurance may be suitable for some drivers, many people will appreciate better cover and additional insurance. If you want to find the perfect deal quickly, compulsory liability insurance online is a great solution – just watch out for hidden terms and conditions.

Summary

Comparing compulsory liability insurance will help you find not only the cheapest option, but also the one that best suits your needs. When choosing, it’s key to look not only at price, but also at benefit limits, assistance, add-on insurance options and no-fault bonuses. Taking out compulsory insurance online brings the benefits of lower prices and speed, but beware of hidden terms and automatic renewals. To get the best deal, compare offers regularly, take advantage of discounts and read the terms and conditions carefully.