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According to a report published by seguropordias.com, 90% of Spaniards say they have needed a car insurance policy for a few days or weeks at some point.
Are temporary vehicle policies new in Spain?
Temporary vehicle insurance has been marketed in Spain for several years in response to a real demand from policyholders.
Temporary vehicle insurance is not intended as a direct replacement for the usual annual renewable car insurance policies, but as a complementary solution for certain specific situations.
When is short-term vehicle insurance requested?
Passing the vehicle inspection
According to the report on the impact of temporary insurance in Spain prepared by seguropordias.com, there is strong demand for short-term car insurance when a vehicle has to pass its official technical inspection. According to the study, one third of respondents identified this as the situation where day-by-day policies are most needed.
Buying a second-hand vehicle
This type of policy is often taken out when buying a used car. According to the report, this accounts for one in every five temporary car insurance policies.
Selling a car
Selling a car is another situation where this type of vehicle insurance is frequently requested, representing 16.7% of the total.
What is the buying process for day-by-day insurance like?
Temporary car insurance is arranged online, through e-commerce, but are policyholders comfortable buying insurance online?
The internet provides a fast and simple solution for arranging temporary insurance. However, online insurance purchase still faces mistrust from many users. According to the report, 42% of respondents said they do not trust buying insurance online.
Having to fill in a lot of details without the help of an intermediary is another barrier when taking out temporary insurance online.
As with other types of insurance, price is one of the most important factors in the purchase decision, according to the people interviewed.[/vc_column_text][/vc_column][/vc_row]