MTPL policy is obligatory for all car owners, unlike CASCO. In this case, the second type of insurance ensures the safety of the driver himself, and not just protects against liability in the event of accidents, accidents and collisions with other cars. But it is extremely important to competently approach the issue of choosing an insurance policy. Here you should not chase the cheapest offers, because it can result in a number of negative consequences. Most often, due to the wrong choice of the insurer, car owners simply cannot receive the payments due on the insured event. Companies refuse to give out money, abruptly cease to exist and cause other troubles.
TOP best insurance companies for hull insurance.
Many when choosing based on the results of the rating among the insurance companies hull insurance. This is a fairly reliable and effective criterion. But not everyone knows about the features of the rating itself. Some believe that the rating can be bought and upgraded by simply paying the relevant organizations. This is not true. The insurer cannot get a high rating by bribing. This is a completely independent way of evaluating the activities of companies, which allows them to fully trust ratings and make choices based on them.
Features of the rating and its functions
In simple terms, the rating of insurance companies is the display of their reliability. The higher this indicator, the more responsible and trouble-free the insurance organization is considered. To determine the list of the best insurance companies for CASCO, special agencies that are engaged in assigning a rating carry out relevant inspections of the activities of insurers. Speaking directly about Russia, Expert RA is considered the leader among appraisers here. This is a rating agency, on the basis of which data the general position of the insurance companies market is formed.
ATTENTION! In this case, not everyone understands why the rating may be needed by the policyholder himself, that is, the vehicle owner who wants to purchase a policy. A number of motorists are sure that they do not care how reliable an appraisal organization recognizes this or that insurance company. For them, the main thing is that the policy itself cost a fairly small amount.
But in reality, the role of reliable insurers should not be underestimated. If you do not rely on this criterion, the choice of the company may be categorically wrong and erroneous. Collaboration with dubious organizations leads to a number of problems. But most importantly, there are difficulties with insurance payments. But each motorist expects that with the help of insurance, he compensates for the cost of repairing or restoring the car when it gets into an accident, or the driver faces other insurance cases.
The rating reflects the likelihood that the policyholder received well-deserved money in the event of a situation stipulated by his policy. Therefore, it is necessary to rely not only on the reviews of motorists, that is, people’s ratings . Here, the key role is played by those assessments that have been officially assigned to insurance companies by leading appraisal organizations.
Something like this can be called appraisal organizations that check the activities of insurance companies, after which, based on the results obtained, they award them with certain marks. In Russia, there are only two organizations whose opinion is considered objective and is of an official nature.
- Expert RA. It is the leading appraisal organization and the largest rating agency in the country. The vast majority of insurance companies can get their rating precisely because of the work of this appraiser. The organization appeared and began its work in 1997. Insurers get their rating, starting from the forecasts of the implementation of their obligations to customers. That is, it gives an estimate of the likelihood of payment problems. The less difficulties arising with payments for insured events, the higher the rating score. The organization examines the current position of the companies, and also makes assumptions about the likelihood of bankruptcy and further development. And all this is done not on bare assumptions, but on the analysis of a large amount of information.
- NRA The National Rating Agency also participates in the evaluation of insurance companies. This is a large independent organization that studies the Russian market of insurers. The NRA began its work in 2006. Insurance companies can voluntarily provide their information, on the basis of which an individual rating is created. The main feature of the NRA is that the evaluation of activities can be carried out only with the direct desire of the customer. Roughly speaking, the insurers themselves are asked to do a review on themselves and evaluate their activities in the form of a rating.
It should be noted that there is a so-called national rating. Its essence lies in the collection of information directly from the car owners themselves. They leave their reviews, express their own opinions, as a result of which a separate rating is created. It is also interesting that quite often the participants in the official and national rating differ markedly. Although it is impossible to deny the fact that in most cases the most reliable organizations are found in all the lists. In the issue of auto insurance for CASCO, the rating of insurance companies plays one of the main roles when a client chooses a suitable policy . Therefore, a number of companies are really interested in getting an expert assessment.
Rating agencies (RA) focus on the financial condition of insurance companies. To do this, they analyze all major and minor financial characteristics, check the documentation, communicate with direct representatives and managers. All this allows to obtain generalized data. Further, all information is processed, after which the results are submitted for consideration by a special board. It includes representatives of the RA. Here it is important to consider one nuance. When the RA makes a preliminary decision, it is brought to the knowledge of the most inspected insurance company. If the insurer does not agree with the assessment, it has every right to challenge it.
The reasons for the lack of rating
If you carefully examine the ratings of insurers offering services hull insurance, it turns out that not all of them have a rating. There are several main reasons why this happens. And it is advisable to know about them exactly if you decide to apply for the car insurance services of the organization that does not have ratings from the RA.
- Cost of evaluation. Carrying out expert inspection of the insurance company costs money. This is far from being a free procedure, since a lot of time and large human resources are spent on it. The cost of assessment is impressive, which is why not everyone can afford to use the services of Expert RA and NRA. Yes, small appraisers can be used, but their conclusions will not be as weighty as in the case of leading appraisal organizations. The high price makes small insurance companies carry out their activities without ratings. Therefore, not all insurers who do not have a rating are unreliable. Here the question is purely in the cost of evaluation.
- Negative financial history. A common situation is when the insurance company itself is not interested in receiving an expert assessment. Their activity can be characterized as negative, they regularly have problems with payments. If such a company is awarded a low rating, their market position will deteriorate significantly. It is easier for them to say that they do not see the point in conducting an assessment, or do not want to spend money on it. This is the key difference between just small beginners insurers and those who have a negative financial history of their activities.
- Nonmarket insurance companies. These are the organizations that are engaged in servicing a fairly narrow circle of clients. They don’t need this rating. Until the company begins to move to a wider area, there is no point in rating them.
You can see for yourself that the reasons are completely different. If you do not know exactly why the company does not have a rating, there is a high probability of facing a dubious and unreliable insurance company. That is why, in order to avoid unnecessary risks, it is better to immediately contact the insurers who have undergone the assessment procedure and received a high rating score as a result of the audit by independent experts.
Let the service be paid and costly enough. But if experts confirm that the company is working reliably, has no problems with payments and has a favorable outlook, the number of customers will instantly increase. And the opposite situation, when the negative financial history is revealed, after which the active outflow of customers begins.
TIP! You understand that it is better to arrange CASCO for those in whom you can be sure. Nobody will give a 100% guarantee, but still expert ratings greatly simplify the procedure for selecting a reliable and reliable insurer.
Considering the rating of insurance companies that offer CASCO policies to motorists, we are faced with various letters. They reflect the level of reliability. This is the official accepted classification used in Expert RA. You can find out how high the probability of being received and not receive compensation for payments can be just by deciphering this notation. Let’s start with the lowest ratings and see what the ratings of the highest category differ among themselves:
- D. If the appraisers awarded the insurer such a rating, this means its complete bankruptcy. That is, to contact him does not make any sense.
- C. Indicates extremely poor creditworthiness. The company has not yet become bankrupt, but everything leads to this. Therefore, it is far from the best choice for registration of a hull insurance.
- C +. The situation is a bit better. Such companies are characterized by very low credit standing.
- C ++. This assessment suggests that the insurer has low credit standing. The company lacks a little to get to the list of companies with a rating that allows them to turn to them with certain confidence.
- B. Reliability is considered satisfactory. This is the threshold from which you can already apply for the CASCO policy. But carefully look at the further forecast. If it is positive, the company will soon rise even higher in the rating. Their prices are not the highest, but we can already talk about stability and reliability.
- B +. The preferred option, because the reliability is sufficient.
- B ++. Insurers with such ratings in the rating are considered acceptable acceptable. A good option with an adequate price-performance ratio.
- A. From this begins the most acceptable rating when choosing an insurer. Speaks of high reliability.
- A +. The reliability of such an insurer can be described as very high. The forecast is mostly favorable.
- A ++. Such an assessment can be obtained only by companies with exceptional high reliability. But the prices of their CASCO policies are usually the highest. But no one will doubt that they will receive due payments for insured events.
To minimize the likelihood of rejection of insurance payments, try not to use the services of companies whose rating is below the value B. Begin your choice with B ++.
When choosing the CASCO policy itself, a high-rated insurance company may be able to help you, advise and give professional advice. Here it is important to bear in mind that firms that are in top positions are not interested in dropping their ratings. Therefore, they carry out their work accordingly, trying to attract new customers. What insurance company on hull insurance will be the best in a year is difficult to predict. Ratings change regularly, updated. Leaders fall out of the top 10. At the same time, newcomers are actively advancing on the heels of recognized favorites. Currently, the leaders of the rating according to the results of evaluating insurance companies from Expert RA are:
- Military Insurance Company;
- Alpha Insurance;
This is only the top 10. But there are a number of other insurers who have received similar high ratings, or as close as possible to them. All of them can be your reliable assistant in protecting the car from various unforeseen situations.
Making CASCO is an important, though not always a prerequisite for operating a vehicle. But if you already need such a policy, try to choose only the most reliable, efficient and problem-free companies.
General recommendations for selection
Many motorists will confirm the fact that about 10 years ago, the majority of vehicle owners, when choosing a hull insurance policy, focused only on the cost of insurance. But the insurance market is developing rapidly. Therefore, many additional and more significant factors are being taken into account. To make it easier for you to make a choice, we will give a few general recommendations on this matter.
- Consider ratings. And it is better to study several ratings at once, including official and popular ones. This will provide a general idea of the insurance organization. Studying ratings, always look at current ratings, as well as the position of the company over the past few years. So you can observe the dynamics and see the company is developing, or vice versa is gradually losing its position in the market.
- Convenient location. This may seem like an insignificant selection criterion, but when insurance incidents occur, car owners do not think so. It is important that the insurer’s offices are located not far from you, at least in the city of your residence. And even better if the settlement center is located near the house or work. This will allow, if necessary, quickly contact the company and resolve all current topical issues.
- Reviews Immediately, we note that among our compatriots it is not particularly accepted to write complimentary reviews. If the insurance company works well and reliably, it does not cause any enthusiasm, as it should be. Because most reviews are negative, which is quite expected. And from here it is important to emphasize the weakest points of the company. Someone responds to requests for a long time and makes a decision. Others have additional requirements when making a CASCO. Still others refuse to pay at all in half the cases. Draw conclusions and make the final decision.
- Insurance products. These are services that allow an individual approach to the issue of a hull insurance in accordance with your needs. Beginners need some conditions, professional drivers are completely different. Moreover, the insurance company itself works to equally satisfy all its customers.
- Modern solutions. Over the past few years, the demand for telematic insurance has increased significantly. This is quite a convenient development for many drivers. Its essence lies in the introduction of a special sensor on the car, which reads information about trips, speed, driving style, etc. For 6 months, when studying the collected information, you can determine how high the risk for a specific driver to get into an accident. Insurers offer nice bonuses for tidy drivers, who reduce the cost of a CASCO policy on average by 20%. A good discount for competent driving.
The right choice of CASCO can play a decisive role in solving controversial issues related to the car. And here it is necessary to give preference to reliable and proven organizations, the adequacy of which will not have to be doubted.
IMPORTANT! Do not pursue cheap offers. It is with them using a lot of dubious insurance organizations are trying to attract customers. This turns into fraud, refusals to pay and other problems.
In order not to be deceived and quickly resolve all issues related to car insurance, it is better to issue CASCO with those companies that are on the top lines of ratings, have good ratings and a favorable outlook.