What to consider when insuring hull insurance?
Gone are the days when the issue of car insurance worried only individual lovers of “iron horses”, and for many other car owners it was more a luxury than a necessity. Now motorists are insured massively and everywhere, since in modern conditions it is not always possible to avoid the hassle and expense of money, nerves and health, relying only on their driving skills and reaction.
CASCO will indemnify for damage in the following cases:
- In case of theft of a vehicle.
- In case of an accident.
- In case of fire (explosion).
- In case of falling objects, including stones.
- In case of natural disaster (floods, landslide, etc.).
Unlike CTP, CASCO is not a mandatory and necessary type of insurance. That is, when choosing an insurance company, the owner of the car does not do this in order to avoid claims of regulatory authorities (for example, when passing inspection, crossing the border usually require insurance), but for himself. And, of course, for your favorite car.
What to consider when searching for an insurance company and concluding an insurance contract:
1. CASCO is not a compulsory type of insurance. Some drivers perceive this insurance as something unnecessary, unnecessary. It’s better to rely on your own strength than to regularly pay money to someone else’s uncle who knows why (it’s not known for what and why – until the first accident or any other insured event).
2. The most important thing is to search for an insurance company, the terms of the contract with which will suit you.
Unaware of the situation in the insurance market, not having his own experience in this matter, the owner of the car must find information about the work of various insurance companies, about the results of their work, the procedure and difficulties in receiving cash payments for an insured event. Usually the owners of the “iron horses” listen to advertising, the advice of friends and acquaintances, car dealership managers (especially if a new car was bought in the salon). Each of these methods has its positive and negative points..
The experience of friends and acquaintances is likely to be more truthful (if they have no reason to hide from you any information, embellish the situation or their practicality), but more one-sided. There are not many people who have suffered from various types of troubles or have had experience communicating with many insurance companies. Even if a friend assures you that his insurer is the most reliable and most honest, do not rush to put an end to everyone else. What suits your friend (for example, the speed of registration and the absence of bureaucratic red tape and procrastination) may not be right for you (for example, you are more interested in the cost of insurance). And also keep in mind that your friend’s information about the insurance company is not so much information about her work, but about the impression that work with this company left him personally.
The information specified in the advertisement, of course, will unequivocally testify in favor of the customer of the advertising company. Here, too, one should not take a word, even if that word has been circulated in advertising booklets and leaflets or heard repeatedly on television and radio. Only what is specified in the contract is of significance. A contract and flyers may contain different insurance conditions. And this means that you must familiarize yourself with the contract in advance, and not at the time of signing. And, if you do not have extensive experience in this field and are not a lawyer, it is better to discuss its conditions with a specialist who can be trusted. The insurance agent does not count. He, most likely, is indeed a specialist, but receives a salary taking into account the commission from the concluded insurance transactions, and his task is not so much to enlighten you in insurance matters, but to convince you to conclude an agreement. A specialist (preferably a lawyer) must be either independent or dependent on you.
Car dealership managers do not work with all insurance companies (and there are a lot of them), but with one or two companies with which they (most likely) have an agreement. And it is likely that they also receive interest from him, that is, they will not be very objective with respect to the buyer. Buying a car on credit requires the compulsory conclusion of an insurance contract and, as a rule, with an insurance company indicated by a bank or credit institution (although you can try to come to an agreement here – this is not an attempt to torture). And the buyer of the car, ready to pay everything at once for its cost, has the opportunity to conclude contracts at his discretion. Therefore, following the advice of car dealership managers can, but is not required to.
Relying on the opinions of others (both interested and disinterested persons), do not forget that you will pay for the services of the insurer from your own pocket. And in the event of an insured event, you will communicate with the insurer one on one, without the help of friends, advertising agents and car dealership managers. And you will seek the payment of monetary compensation only – if you do not belong to the group of those lucky ones who can afford to delegate all matters to lawyers.
Since the question of car insurance, the choice of an insurance company and its tariffs is quite important and very expensive, you need to approach it carefully and seriously..
3. The study of the rating of insurance companies. If the owner of the car independently studies the rating of insurance companies in order to find the most reliable. Often the criterion for determining the very best insurer is the number of contracts concluded. And the leaders chosen by this principle may include not only those companies that specialize directly in insurance, but rather companies that are used as intermediaries and tax optimizers – their indicators with the number of contracts are usually on top.
4. The choice of insurance company should depend not only on the price of insurance. Cheaper does not mean better. For example, having seen a lower tariff under a CASCO agreement, a car enthusiast may not pay attention to a point that speaks of a separate franchise through the fault of the driver. Or see, but decide that such an experienced driver, as he certainly will not get into an accident through his own fault. In this case, the question of honesty of the traffic police who arrived at the scene of the accident and recorded the fact of the accident can play a cruel joke with the driver if he is made a scapegoat and found guilty. Then, according to the insurance contract, the compensation will be reduced by the amount (usually very significant) of the deductible.
Also, a less expensive tariff for car insurance may include the condition of nightly storage at a guarded (required!) Parking lot. And how often do car owners get a parking ticket? Indeed, in the event of damage to the car, the insurance company makes a claim specifically to the parking lot. It doesn’t matter if you park your car by paying cash in a parking lot that you have been using for many years, or ask a parking guard to look after the car in an unfamiliar area. If the driver does not present a check (receipt) for payment for storing the car, then it will be practically impossible to prove that you did not just throw the car unattended.
For the driver, it will be best to determine the list of conditions and tariffs that are necessary for him, compare them with several insurance companies (after searching for information about the reliability of the above companies), and only then choose an insurer.
5. The reliability of the insurer is also an important condition. In the age of the World Wide Web, it will not be out of place to ask about the feedback about the work of the company by its clients who have already experienced all the delights of insured events and are familiar with the terms of payment of monetary compensation not only on paper but also live. What claims (and how many of them) do clients have for their insurance company, what documents should be collected immediately after the occurrence of an insured event, what delays may arise when paying out money – it is worth spending your time to find out. Indeed, the payment of cash compensation is the main goal of insurance.
6. Study of all (!) Documents. An insurance policy or insurance contract, as a rule, does not carry all the information about the conditions of insurance. In order to find out absolutely all the nuances, you have to study (again, preferably with a specialist) the insurance rules on which the company provides its services. And if the insurance contract contains “squeezes” from the insurance rules, then the insurance policy is a simplified version of the insurance contract. And it does not contain the most interesting. And as you probably know, the most interesting thing is that it is written in small print. These are precisely the details and trifles on which upon the occurrence of an insured event the amount of payments depends (or refusal of payments in general – in accordance with these very small print in written conditions).
So be extremely careful when making out insurance. This will protect you from unwanted consequences..
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