Voluntary motor vehicle insurance

Voluntary Motor Insurance, Motor CASCO, CASCO or Car Insurance

For many people, a car has become not a luxury but a means of transport, yet its value has not fallen because of this; on the contrary, it has grown, since besides being quite expensive to buy, a car is for many an integral part of their business: for some it is a company car without which it is impossible to get around the city quickly, others use the car as a taxi, and still others use it to deal with household and business matters. Few people think about it, but the car is the most dangerous mode of transport: it ranks first in the number of road accidents and other insured events.

Motor CASCO as an insurance product probably appeared almost immediately after the car itself, and in some countries motor insurance accounts for 80-90% of the entire insurance market. Motor insurance in Kazakhstan is only gaining popularity, and alongside compulsory motor insurance, demand is also emerging in Kazakhstan for Motor CASCO. A motor insurance contract, according to experts, is as much a necessity for a car owner as the engine. Why, you may ask? The answer is obvious: after an insured event, a car turns into a heap of twisted metal. If this article has not answered your questions, see other materials.

Why Motor Insurance or Motor CASCO Is Needed

The answer to this question may seem obvious, but for some people saving 40,000 tenge today is more appealing than 500,000 tenge tomorrow, so here are the reasons:

1. Every third car gets into a road accident;
2. There is no other tool to protect against insured events and surprises on the road;
3. Unforeseen costs beyond the car owner's control need to be planned for and eliminated;
4. A Motor CASCO contract is not expensive for a car owner, especially in Kazakhstan;

Voluntary Motor CASCO Insurance Contract

The procedure for concluding a CASCO contract differs little:

• Insurance application form;
• Inspection and valuation of the vehicle;
• Agreement on terms and rate;
• Signing of the contract and payment.

After that, the car is insured, but there are some subtleties:

1. Make sure that the valuation of the car or the sum insured under the contract is realistic;
2. Preferably buy a policy with repairs at an authorised service station and without depreciation deduction;
3. We recommend reducing the deductible under the contract to 0;
4. Check the exclusions to make sure they do not include "Presence of an alarm system, The car must not be left overnight in an unguarded area"

For other subtleties and nuances of insurance, consult insurance brokers and agents from the association register.

How Much a Voluntary Motor CASCO Insurance Contract Costs

The price of Motor CASCO for legal entities depends on the following factors:

• loss statistics under previously concluded insurance contracts;
• the territory where the vehicles are operated;
• the nature of vehicle use and the qualifications of the drivers.

The price of Motor CASCO for individuals depends on:

• the value of the car;
• the terms of the Motor CASCO contract;
• the number of insured persons;

There is no point in giving exact figures and amounts, as different companies offer completely, or almost always, different quotes.