Catalogue value:
In short, the catalogue value is the official retail price of a new car in the Netherlands. This is stated in the manufacturer’s or importer’s price list, including the Passenger Car and Motorcycle Tax (BPM) and the end-of-life contribution. We use this figure to calculate your premium. So the higher the catalogue value, the more you pay. That makes sense, because your car is worth more then.
Replacement value:
The replacement value is the catalogue value of your car brand/model at that time, as set out in the manufacturer’s or importer’s price list. So: how much it would cost to buy exactly the same car again. If you are entitled to the replacement value scheme, this amount is important. Because in that case, you won’t be paid the current market value, but simply the replacement value. A good choice when your car is still brand new.
Purchase price or used-car value:
The purchase price is the amount you paid when you bought your car. Including BPM car tax and VAT. Are you eligible for the purchase value scheme? In that case, this amount is important. Because in the event of damage or theft, we don’t take the current market value into account, but rather what you paid for it when you bought it. This applies for up to one year after purchase from a BOVAG dealer or a Dutch brand dealer.
Current value (day value):
The current market value is what your car is worth right now. That value is determined by the fact that your car is older, has suffered wear and tear, has already sustained damage or has clocked up considerable mileage. In short: the more your car has been through, the lower its current market value.
Have you bought a new car and are you opting for comprehensive cover? That's smart. Because if your car is stolen or written off within the first year, you’ll be reimbursed for its replacement value. So the amount you would spend to buy the same car again. Would you like that peace of mind to last longer? Then extend the cover to 3 years.
Do you drive a second-hand car that’s no more than six years old and do you have Fully Comprehensive cover? In that case, you’ll be reimbursed the purchase value in the event of theft or a total loss during the first year. So whatever you paid for it yourself. You can extend that to three years as well. That way, you’ll know exactly where you stand.
"}},{"componentType":"sectionTitle","title":"How is the current market value determined?"},{"componentType":"paragraph","richBody":{"value":"The current value is determined on the basis of:
You’ll need to consider the current market value to determine whether your car is a write-off, or to work out your compensation if your car is stolen.
"}},{"componentType":"sectionTitle","title":"Take out an ING car insurance policy"},{"componentType":"paragraph","richBody":{"value":"You can choose the car insurance policy that suits you best. Fully Comprehensive cover is often selected for cars up to six years old, but it can also be a sensible choice for older cars. Did you finance your car with a loan? You wouldn’t want to run the risk of being left without a car in the event of a total write-off, but still with a debt to pay. Or if your car is still worth a lot and you don’t have the money at hand to unexpectedly replace it. So take a good look at your own situation and choose an insurance policy that suits you. Then you can rely on adequate cover.
"},"textLinks":[{"text":"Calculate your premium","url":"https://mijn.ing.nl/banking/mobile/insurances/retail/car?EW=true"}]},{"componentType":"sectionTitle","title":"When are you not covered by ING Car Insurance?"},{"componentType":"paragraph","richBody":{"value":"You are not covered for any claims if: