CASCO: How to Avoid Unforeseen Expenses?

Along with the car purchase, you get fears for its safety, because an accident or theft can turn into big expenses. Someone relies on luck, but the best way to avoid unexpected expenses is to use car insurance known as CASCO.

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What Is CASCO Insurance and What Does It Protect Against?

Casco is vehicle insurance in case of damage or theft. It can be used even if the car or motorcycle is damaged due to the owner’s fault. If the car gets into an accident, an icicle will fall on it from the roof, or even the driver himself will not fit into the garage door, the Casco can cover the damage.

Usually, car owners purchase Casco policy on their own wish. But when buying a car on credit, it is better not to give up insurance – after all, a comprehensive insurance policy helps reduce the loan rate.As for the quotes, they may slightly vary from company to company but be prepared to pay a more expensive price for this kind of insurance. It costs more than the obligatory one. CASCO rates are set by each insurer independently.

It is voluntary insurance that protects the interests of the vehicle owner. Even if he himself becomes the culprit of an accident and his insured car will suffer in an accident, the CASCO payments will compensate for this damage. The owner of the car will receive the money, or the car will be repaired at the expense of the insurance company.

What May Influence the CASCO Price?

Many factors affect tariffs for CASCO:

  • Statistics of the theft of a specific make and model of vehicle in your area.
  • The price of spare parts and the cost of a standard hour at service stations for your car brand in your locality.
  • Car age.
  • Engine power.
  • Age and driving experience of all drivers of the insured vehicle and their insurance history (the main thing is how often they got into accidents and what insurance payments this required).
  • Additional services included in the policy (evacuation, departure of the emergency commissioner).
  • Type of car security device.
  • Other conditions.

How to Save with the Help of the Franchise?

There are two main types of franchises: conditional and unconditional. With a conditional franchise, if the damage does not exceed its size, you get nothing. If the damage is greater than the deductible, the insurer pays compensation in full. Unconditional deductible reduces the insurance payment in any case.

How to Get a Refund?

There are two types of comprehensive insurance claims:

  • The insurance company can direct you to one of the maintenance stations and pay for the repair of your vehicle. You’ll pick up the fixed car.
  • Money refund. The insurer’s experts will determine the amount of the cash payment. You can submit invoices for repairs that you had already made as proof of its real value.

The insurer agrees with you on the stage of concluding the contract and specifies the method of compensation for losses in the insurance policy.