Comprehensive car insurance with or without excess (franquicia): when each pays off

Short answer: comprehensive without excess (todo riesgo sin franquicia) pays off for new or high-value cars and if you don’t want surprises. Comprehensive with excess (todo riesgo con franquicia) pays off if you drive carefully, have few bumps and can afford to pay part of each repair in exchange for a lower premium.

What the excess is

The excess (franquicia) is the amount you pay yourself for each repair to your own car. For example, with a given excess:

If the repair costs less than the excess, you pay all of it.
If it costs more, the insurer pays the difference.

In return, the yearly premium is quite a bit lower than for comprehensive cover without excess.

The maths you need to do

The yearly premium difference between no excess and with excess.
How many bumps with damage to your own car you usually have per year.

If you have no bumps in a normal year, the premium saving is money you keep. If you have several small bumps, you’d pay the excess several times, and no excess might work out better.

How to choose the excess

Choose an excess you could pay without difficulty tomorrow if you had a bump.
A higher excess lowers the premium further, but increases what you pay for each claim.
Ask which cover has no excess: glass, roadside assistance and third-party liability usually work without one.

When to switch to extended third-party

Over the years your car loses value. There comes a point where what you pay for comprehensive cover isn’t worth it compared with what you’d receive if the car were written off. Many people then switch to extended third-party (terceros ampliado: glass, theft, fire and roadside assistance), which is usually much cheaper.

Also check what value you’d be paid if the car is written off: new value in the first years, market value after that, depending on the policy.

In short

New or high-value car, or you want total peace of mind → no excess.
You drive carefully and want to pay less → an excess you can afford.
Older car → consider extended third-party.

I’m an insurance advisor in Valencia and I work in English and Spanish. Send me your registration number and current policy, and I’ll compare all three options across several insurers.

Frequently asked questions

What exactly is the excess?

It’s the part of each repair for damage to your own car that you pay yourself. If the repair costs less than the excess, you pay all of it; if it costs more, the insurer pays the difference.

Does the excess apply to everything?

Usually only to damage to your own vehicle. Cover such as third-party liability, roadside assistance or glass usually works without an excess, though it depends on the policy.

When should I drop comprehensive cover?

When your car’s value has fallen so much that the comprehensive premium is no longer worth it compared with what you’d be paid if the car were written off. Many people then switch to extended third-party.

Does making a claim on a policy with excess affect my no-claims discount?

It depends on the insurer and the type of claim. Ask before you sign, because it affects whether it’s worth claiming for small damage.