Car insurance despite Schufa? What are the options here? Motor vehicle insurance is mandatory in Germany. If a car is put into operation, the vehicle owner must provide the registration office with proof that there is currently insurance coverage for this vehicle. Without proof of valid insurance, the registration office will avoid registering the vehicle. But how does it behave if the future vehicle owner has a record in the Schufa. Does the insurance cover fail due to the creditworthiness of the policyholder??
Many insurance rates of different insurance companies can already be compared on the Internet. So also the tariffs of the car insurance. In recent years, more and more car insurance providers have started to check the creditworthiness of their potential new customers in advance. You get the agreement before signing the contract. The query is made electronically and is therefore completed in a very short time.
The subject of insurance actually affects just about every area of life. The conditions change, however, according to what or. Who is to be insured. Car insurance is no exception. On the contrary, car insurance is a mandatory requirement.
Car insurance despite negative Schufa?
Definition of the credit rating
A credit check is the examination of a creditworthiness. Before concluding a purchase contract, a rental agreement or an insurance policy, it is customary to check the creditworthiness of the customer. In the case of a purchase agreement, usually if it is linked to payment in installments. The landlord wants to ensure that the future tenant is also able to pay his rent. The case is somewhat different with insurance. Faster than with a rental contract, the insurance company can cancel the contract. Since it is however legally prescribed, a Kfz insurance must be present, if a vehicle is to participate in road traffic. Without insurance cover, the costs incurred in the event of a traffic accident by the party responsible for the accident are usually not payable. It would drive him into financial ruin.
Deletion of Schufa entries
It is not possible to say in general when an entry in the Schufa will be deleted. Three examples should show why this is the case.
- Receivables from mail order companies are deleted immediately after settlement.
- The deletion of credits takes place 3 years, only starting from the year, in which they were repaid.
- In the case of insolvency, it is 3 full calendar years from the information on the granting of residual debt discharge.
Data not stored at Schufa
- The marital status
- Amount of income
- Information on deposit values
- Employer information
- Data on assets
Many consumers could be seen in a better light if the last three points were recorded and included in the credit rating.
Car insurance despite Schufa entry
The checks of the modalities are particularly important for car insurance despite Schufa entry. Because insurance companies do accept customers with bad Schufa information, but they don't offer them as many benefits as they do other policyholders. If it is planned to conclude a car insurance despite Schufa, a rate calculator on the Internet offers itself. There you can find out exactly what you have to pay for the car insurance despite Schufa. For this purpose, most insurance companies have prepared a mask in which the information is to be entered precisely. The result appears in a very short time. If the amount with this provider for the car insurance despite Schufa seems too high, the same procedure is to determine the payment amount with another provider. When taking out car insurance without Schufa, the differences here are sometimes not as great as with a good credit rating.
When looking for a car insurance despite Schufa, it is worthwhile to compare the special Internet offers of the car insurance providers thoroughly. Despite a perhaps only moderate creditworthiness of the applicant, it is possible to find a suitable car insurance policy. There is no fear of rejection by the insurance provider, as premiums usually have to be paid in advance. In this way, the insurance provider minimizes its risk of defaulting on premiums and the policyholder receives full insurance coverage, both in the partial and in the fully comprehensive insurance area. In the meantime, even large insurance companies have started to offer rates that do not require a credit report.
Conclusion
Negative information from Schufa not only affects the conclusion of loans or cell phone contracts, they are also reflected in a car insurance policy. In the worst case it can lead to a refusal by individual insurance companies. It is irrelevant whether the contract is to be concluded with an insurance broker or whether the application is submitted on the Internet. In any case, it is customary to obtain a Schufa report before signing the contract. Since the car insurance is required by law, there can be no general rejection by the insurance companies. There should be compelling reasons for a rejection. However, you have the option to make cuts with a motor insurance despite Schufa. This concerns the offer of hull protection. Furthermore, with the car insurance despite Schufa, they can insist that the policyholder to pay the insurance sum that accrues annually, in one sum, in advance.
What is the Schufa?
History of Schufa
You have to go back to 1927 if you want to understand the implementation of the founding idea of Schufa. The first and only customer at the beginning was Berliner Elektrizitatswerke AG (BEWAG). A Schufa information cost only 25 pennies at that time. From 1978, the new Federal Data Protection Act set new standards. Since January of this year, every citizen of Germany has had the opportunity to find out what data Schufa has stored on him or her. It also has the right to correct incorrect data.
The Schufa today
Schufa can be described as Germany's largest and most important credit information agency. Schufa sees its task in checking the creditworthiness of consumers and companies before contracts are concluded. In doing so, they pursue the goal of indicating over-indebtedness before private individuals in advance and thus avoiding it. Furthermore, to protect the future contracting party from non-payment. Of course, another goal is to earn money as a private company, which is the Schufa Holding AG.
Tasks of Schufa
Although most people don't feel it, Schufa's main concern is to prevent them from getting into debt spiral. It is therefore important to keep track of which charges each individual has to bear. As soon as contracts are concluded, accounts opened, purchases made, this is reported to Schufa.
Schufa information is the second area of responsibility of Schufa. It evaluates using a scoring the creditworthiness of the person. The figure given in it indicates the probability of meeting the payment obligations.
Data storage at Schufa
Basically the following data will be reported, recorded and stored.
- Name
- First name
- Date of birth
- Address
- Address of the previous residence
- Data on bank accounts, cell phone accounts, credit cards, leases, installments, guarantees, loans
Request for Schufa self-disclosure
Every citizen in Germany has the right to make an application once a year, free of charge. These can be found on the Internet and printed out. If further information is required within a year, this will be subject to a fee. According to online research (as of June 20014), it is 18.50 euros for online information and 24.95 euros for written information.