What is motor vehicle liability insurance?
Anyone who takes to the streets by car, motorcycle, quad, moped, bus or tractor must insure their vehicle. Because without the motor vehicle liability insurance, no motorized vehicle may be on the road – that’s what the legislator has stipulated.
The motor vehicle liability insurance compensates the accident victims including the passengers of the accident driver up to the agreed minimum insured sum.
Other optional vehicle insurances offer additional security, for example, they cover the costs of safe return home after a breakdown or an accident abroad. Comprehensive insurance is important for many motorists because it pays for damage to their own vehicle.
These are the benefits of a motor vehicle liability insurance
Motor vehicle liability insurance is compulsory. It compensates the accident victims. Among other things, she pays for the consequences of:
Damage to someone else’s vehicle, for example:
- Repair costs
- Towing costs
- Appraisal costs
- Loss of use
- Rental car costs
- Replacement value in the event of a total loss
- Registration and deregistration costs
- Legal fees
further property damage, e.g. B .:
- Damage to buildings
- Transport facilities
Personal injury, e.g. B .:
- Treatment costs
- loss of earnings
- personal injury compensation
- Funeral expenses
- Survivor benefit
Fending off unfounded claims
The motor vehicle liability insurance examines the accident victim’s claims for damages. If these are unjustified, she fends them off – at her own expense. If the claims for damages are justified, the insurer pays the damages in cash. By the way: Not only the injured party himself has claims to the motor vehicle liability insurance. Health insurance, statutory accident and pension insurance and employers also get their expenses back from motor vehicle liability insurance.
How much does motor vehicle liability pay?
The statutory minimum sum insured specifies the amount up to which the insurer has to cover the costs of damage.
- 7.5 million euros for personal injury
- up to 1,220,000 euros for property damage
- 50,000 euros for purely financial losses
As a rule, however, the insurance companies offer significantly higher insurance sums (coverage sums), for example up to 100 million euros.
Worth knowing: buying a car
If it crashes during the test drive
Of course, a test drive is part of the purchase decision. The situation in the event of an accident differs depending on whether you buy your car from a dealer or from a private person.
Purchase from private
In the case of private purchases, the vehicle is registered and insured even during the test drive on the seller. If the interested party causes an accident, the liability insurance of the (current) owner must pay for the damage to the opposing vehicle. The owner is upgraded to the no-claims bonus.
It is essential to note: Before the test drive, the seller and buyer should write down who will be responsible for any damage to the vehicle and the downgrade.
Buy from the dealer
At the specialist dealer, interested parties can assume that the vehicles are fully insured. The insurance will take care of everything if an accident occurs during the test drive. Nevertheless, the following applies: Before the test drive, it is essential to inquire whether fully comprehensive insurance has actually been taken out and how high the deductible is. It is not uncommon for a deductible of 1,000 euros to be agreed upon.
Black and white: the sales contract
There are standardized contract forms on the Internet. Buyers and sellers should ensure that prior damage and defects to a used vehicle are honestly pointed out. Otherwise, in the event of fraudulent misrepresentation, the customer can demand his money back.
The seller of a vehicle should inform his insurer of the change of ownership with a copy of the sales contract, which includes the date and time of the handover.
Important: The vehicle tax liability ends when the vehicle is de-registered with the registration authority.
Caution: The motor vehicle liability insurance is initially only valid for the time being
If drivers do not pay their insurance premiums on time, the insurance cover can be lost retrospectively and the vehicle will be officially decommissioned. When buying from a private provider, the vehicle is often still registered. With the vehicle, the buyer initially also takes on its motor vehicle liability insurance. It will remain in effect until the new owner re-registers.