Motor insurance

Motor insurance, Compulsory motor insurance, CASCO insurance, Compulsory civil liability insurance for vehicle owners.

Why do you need motor insurance?

Motor insurance is needed to minimise financial losses if a car is stolen or damaged as a result of a road accident, mishap, natural disaster, etc. CASCO car insurance is quite popular with car owners, even though it is relatively expensive. Car insurance will help you feel more confident on the road. CASCO car insurance is voluntary and optional, but it has advantages over compulsory insurance, the main one being that you can receive compensation even if you yourself are to blame for the accident or the damage to the car.

What does motor CASCO cover?

A motor CASCO policy applies if a brick or an icicle falls from a roof onto the car, or a nearby tree falls on it, if the car is damaged by vandals or football fans, if hail dents the roof, etc. CASCO cover does not apply if you let a person drive the insured car who is not authorised under the contract to drive it or who did not hold a driving licence at the time of the accident, if the car was used outside the territory of insurance, if the insured car took part in competitions or tests or was used for driving lessons, in the event of exposure to a nuclear explosion or radiation, as a result of military action, seizure, arrest or destruction by order of government authorities, and in other cases.

CASCO protects a car against more risks than motor third-party liability (MTPL) insurance. CASCO (motor hull) insurance protects the car and its owner from many problems that arise when so-called insured events occur (road accidents, natural disasters, fire, falling heavy objects, car theft, etc.) and reimburses the cost of repairing the damaged car. The set of insured events is determined when the motor insurance contract is concluded. CASCO insurance will also help you sell the car on better terms, since at the time of sale it will not require major repairs or significant financial outlay.

What can insurance companies guarantee?

Insurance companies can offer three types of compensation under a CASCO policy: repair of the car at the insurer's service station, a cash payout, and reimbursement of the cost of repairs you arrange yourself. If the car cannot be repaired or is irretrievably lost, the client can receive the maximum CASCO insurance payout. Its amount is calculated by the insurance company's appraiser or an independent expert. Some insurers may offer a “replacement car” service, i.e. provide the client with a car to use for a while if the insured car has broken down or been stolen.

Why do you need insurance agencies?

Insurance agencies usually offer the client a choice of several insurance companies with different terms for motor CASCO and help select and arrange the best car insurance option. The advantage of an insurance agency is that it provides a wide choice of insurance products and comprehensive client service. Car CASCO may also include original insurance products (insurance options) offered by a particular insurance company.

How much will CASCO cost you?

When calculating motor insurance, the cost of a CASCO policy can be reduced through discounts and restrictions under the contract. The final cost of CASCO will depend on the rates set by the company and the package of additional services provided by the insurer. To calculate the cost of CASCO, the car owner's personal details and the technical specifications of the car are required. The cost of CASCO also depends on whether your car was bought on credit — in that case, CASCO cover is likely to cost more.

CASCO can be calculated with the help of insurance brokers, who select the most suitable offers for you, or on your own, without an agent, using a CASCO calculator. Once the required data have been entered, the CASCO calculator automatically calculates the cost of the insurance. A motor CASCO calculator works out the cost of insurance taking into account parameters such as the make, model, engine size and type of the car, the type of alarm installed, the driver's age and driving experience, etc. You need to calculate CASCO to find out how to buy a policy more cheaply. A motor CASCO calculator lets you calculate the cost of CASCO for more than 20 different options.

How does CASCO “work”?

The most convenient way to calculate motor insurance is with the help of a manager, by filling in a request for the selection of a CASCO insurance programme. CASCO motor insurance usually includes ordering and delivery of the policy. CASCO motor insurance provides compensation for damage within 7 days of submission of documents, and for theft within 20 days. To claim under CASCO cover, you need to submit a notice of the insured event, the vehicle documents, your driving licence and a certificate in the form established for insurance companies.

The Association of Insurance Agents and Brokers recommends using the services of professionals — insurance brokers and agents from the association's registry.