The insurance market offers many different Casco products, there are offers filled with a variety of risks and services, or, conversely, with a very narrow coverage. The cost of a comprehensive insurance contract is quite a serious amount and depends on many parameters that one insurer is vitally important for, but for another they have no meaning. How to choose the service you need and save?
1. Determining the reasons for the acquisition of Casco
The very first step is to determine the reason that prompted the potential insurer to choose this type of insurance. If the need arose as a result of the bank or other holder of the pledge laying down the obligation to conclude a comprehensive insurance contract for the car owner, then first of all it is necessary to study the requirements put forward by the pledge holder to such an agreement. Requirements may not allow the use of tools to reduce the cost of the policy (for example, the use of a franchise). If the decision on the need to conclude a comprehensive insurance contract is not conditioned by external requirements or if the requirements require sufficient variability, then it is necessary to assess what risks threaten your car. It is advisable to assess these risks before purchasing a car,
2. Assessment of existing risks
The assessment of existing risks varies greatly depending on the make / model of the car, the conditions of its storage and operation, the driving experience of the people who will drive the car, and the size of the potential damage in which the policyholder will be willing to spend some time interacting with the insurer as part of the settlement procedure losses.
2.1. Theft risk assessment
The most “sensitive” risk, in the implementation of which there is no probability of a refund of money spent on a car, and the probability of a car return is minimal. To assess this risk, it’s enough to look at any of the “stolen” ratings of cars of various brands, which are constantly published in the public domain. The higher the car in the rating, the greater the likelihood of its theft and the more expensive the inclusion of such a risk in a comprehensive insurance policy. Various anti-theft systems, of course, reduce the risk, but are not an absolute panacea. The likelihood of risk occurrence strongly depends on the storage conditions of the vehicle. The more often the car is stored in “open” territories, the higher the risk. If the car is always on the list of the most stolen cars and at the same time is stored in public parking lots, It is highly advisable to purchase insurance against this risk. In practice, single companies exclusively sell insurance against theft risk, but programs for experienced drivers (for example, paying “risk” risk only if there is a guilty party other than the insured) offer a sufficient number of insurers. When insuring a new car, you should pay attention to the risk of GAP, since the car loses the largest percentage of the cost in the first year of operation.
2.2. Damage risk assessment
The policyholder must assess not only the likelihood of him or another driver getting into an accident due to his own fault (for the assessment you can use the history of such cases), but also the probability of damage to the car by other drivers or third parties. For example, with constant storage of a car in a house parking lot, this probability is much higher than when stored in a garage or in a closed parking lot. It is also worth considering that, no matter how experienced the driver, the more he rides a car a year, the higher the likelihood of an accident risk occurring. A number of certain car brands have significant theft risks of individual parts, since at a considerable cost they are easily dismantled. It is easiest to find out about such facts on club sites of the corresponding brands. When assessing the risk of damage, it is desirable to have an idea of the cost of repairing the damage and the cost of spare parts that are most at risk of damage (bumpers, headlights, windshield and other external elements of the car). Some car brands with not the highest cost of the car itself are distinguished by the high cost of spare parts and work, which, of course, is reflected in the cost of the comprehensive insurance policy. As an example, some cars of Japanese manufacturers can serve, for which the cost of comprehensive insurance is historically higher than the market. certainly affects the cost of the Casco policy. As an example, some cars of Japanese manufacturers can serve, for which the cost of comprehensive insurance is historically higher than the market. certainly affects the cost of the Casco policy. As an example, some cars of Japanese manufacturers can serve, for which the cost of comprehensive insurance is historically higher than the market.
If the policyholder assesses the risks of car damage due to his fault in an accident as insignificant (no more than one case in several years), then he should pay attention to special comprehensive insurance programs for experienced drivers , having carefully studied the essence of these programs.
It is advisable for drivers who do not have driving experience to focus on special programs and for the first time acquire a wide coverage, which it is advisable to expand with the DSAGO risk, as the existing OSAGO limit may not be enough even if the expensive car is not damaged very slightly .
Other risks that the insurer usually combines at the risk of “damage” should be assessed: natural disasters, damage to animals, fire, etc. Risks in any case should cover all the events that the insured implies. The more default risks included in coverage, the better.
The inclusion of risk insurance of the driver and passengers against accidents depends entirely on the desire of the insured. It should be borne in mind that when proposing the inclusion of such risks in a comprehensive insurance contract, insurers usually tie insured events to cases of car damage.
Drivers operating the car in unusual conditions, such as hunters, fishermen and mushroom pickers, who often travel to territories that are not “expensive” in the meaning of traffic rules, stand apart. Most insurers do not cover cases that occurred in such territories with their contracts, and if the availability of coverage for such cases is important for the insured, then the choice of insurer must be approached with particular care.
3. Determination of readiness to keep part of the risk on oneself
When assessing the risk of financial losses from car damage, it is important to take into account the amount of damage that the policyholder is willing to leave on his own retention. This assessment does not imply only the financial component (“I am ready to independently pay no more than 5 thousand rubles for repairs”), but it implies the insurer’s tolerance to minor damage to the car. The smallest chips and scratches are unacceptable for some motorists, while others do not consider it necessary to eliminate even more serious damage, motivating by a lack of time or an unwillingness to replace / repaint factory parts. For some parts (for example, unpainted), even minor damage involves replacement, and, accordingly, quite significant costs.franchise .
4. Determination of the optimal form of compensation and parameters for calculating the amount of loss
Any of the ways to pay insurance indemnity has its advantages and disadvantages. Compensation in kind is preferable for policyholders who are not versed in repair technology. The choice of a dealership or non-dealership service station depends on the availability of a car warranty and the personal perception of the various service stations by the insured. In most cases, insurers enter into agreements with reputable non-dealer service stations, and the policyholder will not feel the difference in the quality of the repair. Often, insurers offer the opportunity to report an insured event directly to the service station (remote loss settlement), which saves additional time. Payment in cash should be chosen if the insurer does not have any contracts with the service station and the insurer needs the brand or the insurer has “his” service station, the specialists of which he is ready to trust.
5. Assessment of the ability to declare without reference
Many insurers have the option of claiming damage without reference in one form or another. Often this possibility is formulated with many restrictions, the non-observance of which may result in the refusal to pay compensation in full or at least in excess of the amount of damage agreed upon by the condition (for example, only damage that can be repaired can be declared, and repair or replacement is necessary to eliminate the claimed damage; losses of not more than 10 thousand rubles, and the elimination of damage will cost 15 thousand rubles). Sometimes this opportunity can be very convenient, but if it is provided for an additional fee, you need to carefully study the conditions and assess the need in conjunction with other terms of the contract (for example, if a franchise of 10 thousand rubles is established under the contract,
6. Assessment of the need to include additional service options
The car evacuation service is included in the cost of comprehensive insurance for many insurers free of charge. If the services of the emergency commissioner and the collection of documents from the competent authorities are provided at an additional cost, the decision on the appropriateness of such costs is made by the insured. Often the implementation of such services only increases the time for settlement of the loss and does not provide any additional assistance. If the policyholder does not expect a large number of insured events during the term of the contract, then the acquisition of the service is impractical, since if necessary the service can be purchased independently. Similar advice applies to taxi, car rental and legal assistance.
7. Comparison of cost. Installment assessment
When the policyholder has decided on the components of the comprehensive insurance policy that correspond to his needs, it remains to calculate the cost of such a service and choose a suitable insurer. Many insurers provide the opportunity to calculate the cost of hull insurance on their official websites. To make a number of calculations on the websites of several insurers, filling out virtually identical data, is quite laborious. The task will simplify the Casco calculator in which, according to the given parameters, it is possible to make calculations at once in several insurance companies and compare their price offers. If the policyholder has not finally decided on the need for a number of parameters, it is recommended that a calculation be made with their inclusion and determined based on the difference in cost. Here you can also set the possibility of paying the insurance premium in installments. Using installments can increase the cost of the policy and entails the risk of termination of the contract by the insurer in case of delay in payment of the next insurance premium.
Recently, products called the smart word “Casco” have appeared on the market, based on the principle of “pay-as-you-drive”, which involve the installation of a telematics device on a car. For a certain time, such a device monitors the driving style of the drivers driving the insured car. Joining this program can potentially save tidy drivers up to 50% of the contractual insurance premium.
8. The choice of insurer. Analysis of possible additional requirements of the insurer to the contract
After determining the parameters of the contract and the most suitable price offers, the potential insurer needs to choose an insurer, which is especially important for voluntary types of insurance, in which the current legislation, unlike mandatory types of insurance, does not provide any types of compensation to the insured in cases of revocation of the license or bankruptcy of the insurer .
The following are the parameters that should be followed when choosing a Casco insurer.
· Reliability of the insurer. When analyzing the insurance company according to the “reliability” parameter, it is easiest to rely on the ratings of various rating agencies (the higher the rating, the less likely bankruptcy), the insurer’s openness – the presence of “fresh” forms of accounting and financial reporting on the official website (preferably with a positive financial result) , the presence of serious shareholders.
· Loyalty of the insurer. When analyzing the insurer by the loyalty parameter, it is necessary to evaluate the insurance rules for the breadth of the risks covered and study the reviews current policyholders on how well the insurer will manage losses. When analyzing the reviews, it is advisable to apply them to the current insurance conditions of the insurer and to understand how accurately the insurer fulfills these conditions, and not possible ideas about the hull of the persons who wrote the review.
· The insurer has a contractual relationship with the service station necessary for you, and a large number of service stations in principle. The absence of a large number of contractual relations with the service station usually characterizes insurers who are just starting to develop comprehensive insurance, or insurers with whom the service company terminated their contracts due to the frequent failure to fulfill contractual obligations on the part of the insurer.
Today, there is a situation where the requirement for the reliability of the insurer is the most significant, since it is much easier to recover unpaid or unpaid insurance compensation from the insurer on the market in the trend of recent court practice than to try to get something from the insurer whose license was revoked or which was declared bankrupt.
After choosing the optimal conditions of the comprehensive insurance contract and a suitable insurer, you must make sure that the insurer does not put forward additional requirements when concluding the contract, which may include the equipment of the car with anti-theft systems or certain conditions for storing or operating the car. Requirements are reflected directly in the insurance policy. If no surprises are found, you can conclude a contract and make payment.
9. Who is better to purchase a comprehensive insurance contract from an insurer, insurance broker or insurance agent?
It is possible to conclude a contract under the good faith action of all parties both directly at the office of the insurance company, and through insurance agents and insurance brokers. Insurance agents or brokers can assist in selecting the best offer among several insurance companies, as well as provide an additional discount due to their remuneration. When purchasing a policy through an intermediary, it is necessary to check with the insurer whether it has a contractual relationship with this counterparty and whether the policy that is supposed to be issued is listed in the list of lost or stolen.