Players in the car market are interested in how to get insurance when buying a car. At the same time, novice drivers often confuse CASCO and OSAGO. What you need to know about insurance when buying a used / used car? We will tell about it in this article.
What is OSAGO
OSAGO is a document of compulsory insurance. Thanks to him, there is a compensation for damage caused to another car or the health of the passenger. Without a policy, it is impossible to register a car in the traffic police, manage it and pass inspection. Therefore, car insurance after purchase – an important thing that can not be ignored.
If there is a CTP in the event of an accident in which you are guilty, the insurance company that issued the policy to you will pay the money to the victim. In the reverse situation, in the presence of a CIVOCL policy in the cause of damage to your car in an accident, you get the money. Repair in both cases, car owners do their own. It is worth noting that with CTP you insure yourself against financial failure rather than auto. Because the insurance covers only the damage to the victim from you in an accident.
What is hull
CASCO is a voluntary car insurance. In the presence of CASCO you insure the car against theft and damage. In case of an accident, regardless of whose fault the insurance company will repair your car. If the car is stolen or destroyed, the company will pay its value.
The principal difference between CASCO and CTP is that with the first policy the insurance company will take over the repair of your car. In the case of CTP, you will do the repair yourself!
How much is car insurance
The presence of CTP is mandatory under the laws of the Russian Federation. Therefore, the price for it is the same for all insurance companies. The cost of CTP depends on the following factors:
- Variety of vehicle;
- The insurer’s physical age and driving experience;
- Motor power;
- The number of accidents.
For young drivers, the cost of MTPL will be higher due to age and length of service, for experienced drivers – because of accidents, if any. The cost of compulsory motor TPL insurance varies from 12,000 to 23,000 rubles.
Payment of CTP
To pay the victim must contact the insurance company responsible for the accident. It is worth considering that with your fault in an accident the price of the payment will be taken into account in accordance with the wear of the car (its age and mileage).
The threshold for CTP insurance is 400,000 rubles. If the cost of damage was higher, then you are entitled to recover the difference through the court and the perpetrator of the accident.
Unlike CTP, CASCO independently sets the price for the policy. On average, it is 4-12% of the market value of the car. You may be refused if you do not fit the company’s requirements at the time of the conclusion of the contract. Suppose the age of the car is exceeded. Also in the contract prescribed amount of compensation or repair. The indicators of CASCO cost formation include:
- The age and experience of the driver (the younger, the more expensive);
- Vehicle storage conditions;
- Family status;
- Alarm installation;
- The number of accidents;
- Car age;
At last it is worth to focus attention. The older the car, the higher the CASCO price. The risk of damage to a used car is greater, and repairs are not cheaper than repairing new cars.
Advantages and disadvantages of CASCO
- Calm for the car for the year ahead;
- Receipt of cash or repair in the event of an accident and an unforeseen situation, regardless of the circumstances.
- High price. 4-12% of the market price of the car can break the bank;
- Unsettled prices;
- The reluctance of insurance companies to make used cars;
- Delay payments;
- Fixing each case in the traffic police for help;
CASCO saves your nerves, but spends money on it. Large or not – you decide.
Nuances of used car insurance
Making insurance for used cars has its own ways to save. Now we will tell you how to insure the car and stay with the money.
OSAGO on a used car
When buying a car, a new owner must have time to arrange insurance in his own name 10 days after the purchase – this is exactly the term that is set by law. It is worth considering that in order to transport a car for a technical inspection you will need to either call a tow truck or ask the previous owner. But after THAT you do not need to drive the car anywhere, you can issue an insurance policy via the Internet, which will save time. For insurance on a used car, you can choose any insurance company.
CASCO on used car
Making CASCO insurance is a more time consuming and complex process. Not all insurance companies want to take used cars under their wings. Most companies are ready to take on foreign cars with wear to 10 years and domestic cars to 7 years. Such cars can be insured under the programs of new cars: the cost of insurance is more expensive, and the probability of a new car crashing is significantly lower. An important caveat: when choosing the type of damage payment, you can choose two:
- Taking into account wear;
- Excluding wear.
In most cases it is more profitable to take payment for used cars without taking into account wear. The price of the policy may be 15% more expensive, but it will save costs in the future. If the insurance is taking into account the wear and tear, then from the moment of the conclusion of the contract the wear that the car received will not be paid. In the event of an accident and in assessing the damage, the company will pay the amount by deducting from it the percentage of depreciation that has been added since the moment the contract was concluded. Thus, you will not receive all the money that a car repair will require. Also important is the fact that for used cars KASKO uses repairs to the service station, where the wear of the car is never taken into account.
How to save on hull insurance
There are several ways to reduce the cost when purchasing CASCO.
- Take advantage of franchise insurance. With it, payments for theft and destruction of the car will be complete. Another plus of this option is that it does not take into account the experience and age of the driver, which is suitable for beginners.
- Wear accounting. When you purchase a hull insurance taking into account wear and tear, its price will fall by 15-20%.
- When choosing to pay for repairs, the insurance company will pay only the cost of new parts, and it is up to you where to repair the car. This option allows you to reduce the price of hull insurance by 40-50%.
- Repair from an unofficial dealer will help reduce the cost of the CASCO policy by 20%. But note that in this case, the official dealer can remove the car from the account.
Save on hull insurance is quite real, but it will not be superfluous. If you want to sleep peacefully and have a “trump card” in the sleeve in case of an unforeseen situation, hull insurance will not hurt you, and may save your finances. For the rest, it is enough OSAGO.