Daily value moped: what does it mean?
The current value plays an important role for the moped insurance. This is the maximum amount the insurer is prepared to cover, in addition to the liability risk. A higher current market value results in a higher premium. For three of the four types of insurance, the current value is of interest to the insurer. The insurer does not ask for it for the third-party moped insurance. This insurance only compensates for damage caused to others, not for damage to your own moped.
Why does the insurer ask for the current value?
In case of damage, the repair costs are reimbursed. If the repair costs are higher than the current market value, the insurer pays out the current market value. This is called a total loss. In case of theft, the current market value is also considered for the payment. The current market value is therefore also the maximum amount that the insurer must pay out in the event of damage to one's own vehicle.
What does the daily value depend on?
To determine the current value, the catalogue value is used as a starting point. The catalogue value is the amount for which the moped was bought new. An expert hired by the insurer can determine the current market value of the moped just before the accident. The following factors, among others, play a role in this:
- How old is the moped?
- Which brand and type is it and how are they doing in the market?
- How many kilometres has the moped already been driven?
- Have accessories been added that are not included in the catalogue value?
- The general condition of the moped - How has the vehicle been maintained?
How do I find out the value of the moped?
When you take out moped insurance, you are not asked for the current value. However, the insurer is interested in the catalogue value and the amount you paid for it yourself. The current market value will be determined by an expert in case of damage.
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