Car insurance and car value

Finance, Taxes, Banking, Insurance and Retirement
1
I searched back 3 years but did not find anything -

We will be leasing a car (minivan, full value CHF 43k, sticker 38k) and the insurance (full) proposed by the garage comes at CHF 1,800 per year, which to me sounds awfully high...and with only me as driver as far as I can tell. I am not local. I have 20+ years experience, no claims.

Am I being taken for a ride?

2
Well, you have full coverage insurance for a car worth 43k new. Ignore the sticker price, what is important is the normal new price of the vehicle with the same specs as yours.

Now, you are probably being taken for a bit of a ride, so go to comparis.ch and use their insurance quote calculator to get an estimate across the market. Take those offers to the garage and see if they can match it. If not, just go with another offer.

3
Does not sound very much , write a car off every 25 years & the insurance breaks even. That's before any 3rd party claims.

4
Firstly check the premium on Comparis to see what it comes out.

Secondly get the break down between 3rd party and voll-kasko. 1,800 sounds steep for a 43k car.

5
That was the full kasko price for one of my bikes (47k price tag), but I am at 35%!

However, I only insure it 3 or 4 months a year, so only 450-600.

Tom

6
Driver is irrelevant in Switzerland, it's the vehicle that is insured, regardless of the driver.

Tom

7
Costs very based on the driver, so your statement is partially false.

Try one of the online calculators and fill up the same forms, choosing between Swiss and different nationalities. Check the end premiums.

Also, you always have a field to select "other drivers below 25 yo". This affects premiums as well.

8
My insurance has no provision for mention of other drivers, other than that drivers under 25 have a higher deductible.

Tom

9
For a leased vehicle you need a full caso, so forget about anything else.

I have a similar situation to you, but Swiss with a Chf 200k car/600BHP and pay about Chf 2'400.-- Try Smile direct.

As already mentioned, if you take a vehicle on leasing you will pay more for insurance than one financed otherwise, why......... I still do not know !

10
Insurance here is strange. The car is covered for any driver, but there are still massive variations, usually down to the nationality of the owner and where they live. I pay 1.2k for full coverage on a Range Rover Evoque with a 240hp engine, but I know someone the same age as me paying over 2k for a Renault Clio 1.2 worth 1/4 the amount of my car, and with 1/4 the horsepower. The main difference is he has a North African passport and I have a British one.

In the UK I'd be paying about 1/3 the price for the same car, but it would only cover my wife and I to drive it.

11

You obviously don't live in London , amazed how cheap Swiss car insurance is & the prices have hardly changed in 20 years .

12

Nope, was in rural Oxfordshire paying £170 for a Mazda MX-5 and £190 for a brand new Mini Cooper - full coverage for my wife and I to drive.

UK prices are far more variable, low risk drivers in low risk areas pay buttons but if you're 18 and live in somewhere like Manchester or Luton then you're in for £3k or more for third party cover on a £1,000 Fiat Punto.

Here most people seem to pay 1-2k CHF which I think is a better system in general. There's a demographic timebomb waiting for the UK motor industry as teenagers don't bother learning to drive, and therefore don't develop an attachment to cars or motoring which is going to make it a lot harder to sell 'nice' cars when they're older. The market is going to move to a car being a domestic appliance unless the cost of motoring for the under 25s is tackled

13
But also down to the driving record of the main driver and/or spouse. Heavy convictions or claims will have a significant effect.

I was annoyed when I first came here, having just reached the optimum age for insurance in the UK, to find that premiums here don't reduce as you get older. Meant that my insurance on the same car more than doubled

14
So hardly a fair comparison with a Range Rover, don't let accuracy spoil a good story

15
I checked, on the RR in the UK I'd pay just over £300

16
Post the photo of the car please.

17
or let's guess first.... F-type?

18
So you think £900 equals 1200 chf?

19
Near enough, 12XX isn't that far from 1350 so I thought it'd do for rough comparison purposes.

20
No, it's not very interesting, a solid German estate car....