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  #61  
Old 16.02.2015, 10:53
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Re: Car insurance differ in premiums for Swiss and non-Swiss persons

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In my case, the damage is a small crease and a crack in the paint. The main dealer cost to fix the damage CHF2,800 if I just take the car back as is, and the independent garage CHF 1,300. The main dealer is where the car must be returned wants to replace the entire bumper and paint, independent will repair and paint. My casco will cover 100%, so why would I pay for it, when the insurance company will pick up the tab, thats what I pay my premium for... and is precisely why the insurers charge more for lease cars.

But this would be same whatever the method of financing !

The main dealer knows car is on leasing so he is cheating the insurance, respecively you as you pay insurance premiums.
You could also take the leased vehicle to an independant, have the work done and pay the excess over your deductible too. Providing it is done properly the lease company don't care, all they want is a nice car back.

My point remaions, if you lease a car, the insurance is more expensive for rather spurious reasons
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  #62  
Old 16.02.2015, 10:57
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Re: Car insurance differ in premiums for Swiss and non-Swiss persons

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So if i don't own the car, i keep it pristine and if i own it, i don't ?

As for "getting it for free", i am lost here. The deductible is the same irrespective how the car is financed as far as i know.

My point is, however, YOU PAY MORE for your insurance if your car is leased rather than purchased outright.

The reasons given by the insurance companies don't really stand up in my opinion, but i may be missing something.
1 - No, how you keep it is your choice, with a lease the definition of pristine is someone else's, a mark you may live with on YOUR car, may be a defect to the inspector when you return a lease vehicle, not a difficult concept.

2 - If it's parking damage it certainly is for free if you have casco, for your fault damage then there is a deductable.

3- Correct you do, and it's to cover the increased risk, standard insurance practice in many countries.

4- Possibly

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But this would be same whatever the method of financing !

The main dealer knows car is on leasing so he is cheating the insurance, respecively you as you pay insurance premiums.
You could also take the leased vehicle to an independant, have the work done and pay the excess over your deductible too. Providing it is done properly the lease company don't care, all they want is a nice car back.

My point remaions, if you lease a car, the insurance is more expensive for rather spurious reasons
In my case the car will go to the independent, as they are in the Zurich help point thingy, and I won't have an excess as it parking damage so the insurance will stump up the lot. The damage is very, very, slight and if I owned the car I would live with it, the inspector won't... simple. As it's a lease I have no option (thats the point) but to have it repaired, and that will result in and insurance claim.

This is the 1st time I've had a lease, as I usually buy outright, and the agent explained the difference to me as they additional premium is to cover additional risk, and I can see that.... I don't like it but I can see it
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Last edited by Papa Goose; 16.02.2015 at 11:17.
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  #63  
Old 16.02.2015, 11:27
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Re: Car insurance differ in premiums for Swiss and non-Swiss persons

1) OK, but when you come to sell your car with dents and dings, you lose value, just look at car ads in this forum !!

2) If you claim under your Casco, which you can do, no need for parking insurance, you lose part of your "no claims" bonus, plus of course you need to pay the deductible, however the car is financed, so it ends up costing you anyway, irrespective of car finance.

3) It's not a real resaon, it is a justification to increase the premium that the insurance company charge

4) More than likely, i'm not the sharpest knife in the box !

You work for insurance company or leasing company ?

EDIT :

Parking damage they pay for IRRESPECTIVE of how car is financed, if you have parking damage insurance, you just need to pay the premium for it, it's a bolt on extra at the end of the policy.

You can have it repaired anywhere, you jsut have to return the car in pristine condition: It's exactly the same when you come to sell your car, if it has dings/dents, the value is reduced, so normally you try to have it looking nice in order to get best price...

I maintain, there is no real reason for an increased premium depending on how the car is financed. The ONLY real advantege is to the insuranc ecompany as they know many people HAVE to lease and therefore they come up with spurious reraons for increasing the premium.

I respect your posts PG and deep down, you know i'm right, the aim of the insurance company is to maximise profit, how they doi it doesn't necessarily have to be fair or reasonable to the punter. In this case, as about 65% of cars are leased here, they have punter by short and curlies and profit from the situation, not too much, but the increased premium goes directly from YOUR bank to their bank !

Last edited by Today only; 16.02.2015 at 12:18.
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  #64  
Old 16.02.2015, 11:34
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Re: Car insurance differ in premiums for Swiss and non-Swiss persons

Lol... wish I did I'd get a better rate than 2.99 mate, I did work for an insurance company in another life though

The point you are not grasping, is very fundamental, but we are going around in circles. You think it's just a con, I think it's the higher claims on lease cars, due to the return conditions.... and none of that has anything to do with the OP the Swissy drivers get cheaper insurance than non Swissies.

Last edited by Papa Goose; 16.02.2015 at 12:26.
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  #65  
Old 16.02.2015, 12:59
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Re: Car insurance differ in premiums for Swiss and non-Swiss persons

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Lol... wish I did I'd get a better rate than 2.99 mate, I did work for an insurance company in another life though

The point you are not grasping, is very fundamental, but we are going around in circles. You think it's just a con, I think it's the higher claims on lease cars, due to the return conditions.... and none of that has anything to do with the OP the Swissy drivers get cheaper insurance than non Swissies.

The point i made was "Insurance is more expensive if the car is leased rather than purchased outright, despite the driver (insured) risk being the same"

We are arguing why it is more expensive, you beliewve it's justified, i do not, as the risk has not increased/decreased due to the way the car is financed, all other things being equal, including how you look after your car.
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Old 16.02.2015, 13:12
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Re: Car insurance differ in premiums for Swiss and non-Swiss persons

In theory the leasing should have no bearing on the 3rd party element of the insurance. When you return the car you would claim on the kasko part.

HOWEVER I suspect what really happens is that the insurance companies calculate an additional amount into the 3rd party element to cover the cost of the claim made of the kasko element.

IE in general leased cars incur more frequent claims (3rd/kasko) therefore are higher risk.

After all, if your car (not your actual car but another one of the same make/model) is crashed more frequently in 2015 than in 2014 - your premium will go up! If more people in your age group (or insert any other demographic) crash in 2015 than 2014 - your premium will go up.
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  #67  
Old 16.02.2015, 14:06
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Re: Car insurance differ in premiums for Swiss and non-Swiss persons

Might the leased vs non leased be what the uk calls gap insurance. Ie the difference between the valuation of the car by the finance company and the market value. The former is normally higher especially in first two years. In the uk you take out what is called gap insurance to cover the difference in the case that the car is written off.
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Old 16.02.2015, 18:58
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Re: Car insurance differ in premiums for Swiss and non-Swiss persons

Isn't that right that leasd car is not owned by you? Maybe in such case people care less and thus there are more damages done to such cars? But I could not agree more with Today Only: this is not a free market, this is a price fixing in its purest form! Same thing for fuel and other financial stuff in this customer-hostile country...
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  #69  
Old 14.03.2015, 23:20
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Re: Car insurance differ in premiums for Swiss and non-Swiss persons

Isn't the premium for leased vehicles are higher due to mandatory requirement to opt 100% Kasko etc.
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Old 14.03.2015, 23:35
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Re: Car insurance differ in premiums for Swiss and non-Swiss persons

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Isn't the premium for leased vehicles are higher due to mandatory requirement to opt 100% Kasko etc.
I said the EXACT SAME insurance, for a leasing you need a casco anyway, for a new car it's advisable.

We are talking about the difference in insurance price based on how you finance the car
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