It is not for nothing that car owners are concerned about the safety of their car, because an accident or theft is accompanied by large financial losses. It is possible to avoid unexpected expenses if you take out CASCO car insurance. Voluntary purchase of a policy will protect the owner of the vehicle even if he himself becomes the culprit of an accident.
What is CASCO insurance and in what cases does it protect?
CASCO insurance is a specialized policy for vehicles that aims to compensate for losses due to damage and theft of a car. The insurance covers losses from accidental fire and arson, when an icicle fell on a car or the driver did not fit in and hit the body. Such unexpected events are covered by the CASCO insurance policy, providing cash to the car owner, or the breakdowns are repaired at the expense of the insurance company.
How to choose a company providing CASCO insurance
Before purchasing a policy, you should pay attention to the following factors:
- Availability of a license. You should make sure that the company has a license agreement to provide CASCO insurance.
- Review the agreement. Terms such as constructive and total loss of a vehicle, damage and theft are understood differently by different insurers.
- Terms of interaction. Study in the contract the terms of cooperation between the company and the client, the procedure for when an insured event occurs with a car. Failure to comply with the procedure and requirements will often reduce the amount of payment or cancel it altogether.
- Specify the payment transfer period. How quickly the company transfers compensation. It is better to find out this information before signing the agreement.
How much does CASCO insurance cost?
Many criteria influence the cost of CASCO insurance. Among them the following stand out:
- year of manufacture and make of the car;
- statistics of thefts of certain car models;
- the price of components and spare parts for a certain brand of car;
- engine power indicators;
- driving experience of the car owner;
- insurance history of the driver and vehicle;
- additional service included in the motor insurance contract.
In addition, you should pay attention to where the car will be repaired upon receipt of compensation (if this method is chosen). The CASCO insurance price is affected by repair work carried out at an official dealer or service station. The former are more expensive.
