There are more and more cars in cities, respectively, and driving becomes more dangerous, in such conditions insurance becomes an absolute necessity.
Now 2 types of insurance are distributed, this is OSAGO and CASCO, there is a serious difference between them, OSAGO insures only the driver’s responsibility to other road users in case he provokes an accident, the driver himself will not receive anything from it, even if his car is seriously injured.
As for the hull insurance, it insures the damage caused directly to the driver and his car.
What is the difference between CASCO and CTP?
Unlike CTP, the essence of CASCO is that it is completely voluntary insurance, the insurer will either pay the insurance money or pay for the repair of the insured car. CTP does not provide such opportunities.
Tariffs and conditions for compulsory motor third party liability insurance are largely set by the state, the insured is obliged by law to draw up this policy, the state thus improves road safety, especially for pedestrians.
With regard to hull insurance, insurers can set and change the rules of insurance, as well as tariffs for it.
However, there are common features between the two types of insurance, especially for the payments themselves, both of which are aimed at compensating damage to damaged vehicles. The conditions for receiving payments and the amount of coverage on compulsory motor TPL insurance are unchanged, the situation is different with CASCO.
How much is a hull insurance?
The policyholder himself determines the list of risks under the contract, the car owner himself decides to what extent, in what form and in what time payments will be made, it is important to resist the desire to save absolutely everything.
The size of the unconditional franchise will affect the price of the policy and the amount of compensation, there are other CASCO features that are important to consider.
- Many car owners are interested in the question, do they need to worry about the fact that the cost of insurance will increase after applying for payment?
- If we are talking about hull insurance, of course, if we are talking about paying for CTP, then next year’s tariffs will not increase, because the person was injured in the accident, if he himself was responsible for the accident, then you have to pay more.
- If we talk about CASCO insurance, the size of the multiplying factors is determined by the tariffs of the specific insurer. If the car owner was not the cause of the accident, the cost of the policy may not change at all.
Most Russian car owners are not aware of the concepts of “regress” and “subrogation”, but these are important concepts for insurance. The right of recourse is in the law on OSAGO, and subrogation refers to hull insurance.
In case of recourse, the insurer may demand from the client to pay damages if he became the cause of the accident and violated the rules of CTP. If the driver was drunk or fled the scene of the accident, the insurer will pay the damage, but will be able to demand reimbursement of its expenses in the future.
Subrogation allows an insurer who has paid a CASCO indemnity to demand a refund from the person responsible for the accident. This requirement can be made even to the close relatives of the insured, for example, such a situation is possible if the jealous wife did something to her husband’s car.
It is important to know that the calculation of auto insurance CASCO is carried out according to rather complex formulas and each insurer according to several different rules. As a rule, it is easier to insure an expensive car than a very cheap one, the driver’s biography and many other factors will be taken into account.
In this case, the approach to the car is individual, you need to meet with the employee of the insurance company and clarify everything, moreover, it should be done together with a professional lawyer.
On the websites of large insurers there is an online calculator for calculating insurance, you can use it, but its data is not always absolutely accurate.
In any case, any driver must have a CTP policy, as regards CASCO, this is his personal business, but in principle both policies should be, unfortunately, they simply cannot afford them for many of them.
This problem is easily solved by using the franchise, you can also make a payment on hull insurance by installments. When making a hull insurance, you can also refuse to insure some risks if they are covered by a CTP contract.
Both of these contracts are necessary to make traffic on the roads more orderly and to make people’s lives safer. If you value your health and money, then a CASCO contract is necessary.
Abroad, it is available to almost everyone, in the Russian Federation this is not quite so, but it must be remembered that the more insurance a person has, the better his life will be and the more he will be able to save in various situations.
CASCO insurance will help in many cases, since not all participants in the movement are disciplined and balanced people, such insurance will help to solve serious problems.