Having decided on the need to insure his car (on his own initiative or under pressure from external factors), the person proceeds to search for a suitable insurance company. A potential client usually first looks at the insurer's rates, and only then pays attention to other conditions of the contract (and even then not always). But the tariff will largely depend on the conditions under which auto insurance objects will be insured.
Despite the fact that CASCO is a voluntary car insurance for a client’s car, not a single loan transaction can do without it. So for many car owners, this contract becomes voluntary-compulsory. In order to understand the conditions in more detail and choose an insurer, you need to first understand how CASCO differs from CTP. The main differences between these two types of insurance are auto insurance objects. If in the first case it will be third parties (that is, the life and health of other participants in the movement, as well as their property, including cars, are insured, then with CASCO insurance the car will be the only insurance object.
When choosing the conditions under which the CASCO contract will be drawn up, the client must understand that the low tariff under the contract is certainly accompanied by either a high deductible or the exclusion of some risks from the list. Both points are very important and may subsequently affect whether a refund will be received upon the occurrence of an event.
The deductible (that is, the amount deducted from the compensation upon payment) can be indicated as a percentage of the cost of the car, and in rubles. If car insurance provides for a high deductible, then it makes sense to apply for compensation only in case of serious damage. Such agreements, as a rule, are concluded for credit cars, reducing the tariff due to the deductible, when the client does not, in fact, need insurance, and he perceives it only as additional costs.
As for the risks from which auto insurance objects are insured, the situation is as follows: if the car is credit, then the bank selects them, and the client cannot exclude any of the points in order to reduce the
insurance premium. If insurance is not associated with a loan, then the client himself chooses what to include in the contract and what not. In the event that the car insurance objects are insured for all CASCO risks, the contract applies to accidents (both through the fault of the driver and without it), illegal actions of unauthorized persons (including theft), natural disasters, falling objects, trees, fires or spontaneous combustion.
To reduce the cost of insurance, the client can refuse items that, in his opinion, are unlikely. As a rule, natural disasters and fire are excluded from the contract, leaving only accidents and theft. With an average deductible level of 2-4% of the sum insured, insurance can become cheaper by 2 times. In this case, vehicles of both private individuals and enterprises can be objects of car insurance.
Many insurers set the maximum age for a car that can be insured under CASCO, increasing the tariff for cars older than 8, 9 or 10 years by 1.5, or even 2 times, or even refusing to insure such vehicles.
Choosing an insurance company in which a CASCO contract will be concluded, as well as considering various conditions of the contract, you should carefully consider this process so that, if necessary, it is easy and without problems to get a refund.