Analysis of the CASCO insurance market for 9 months of 2021

What is CASCO

Auto CASCO is a universal agreement drawn up between citizens and an insurance company. Unlike standard MTPL, the object of its protection is not only the vehicle, but also the driver himself. But the legal force of the mentioned document extends to a number of circumstances, such as:

• Damage to the insured car (due to an accident, natural disaster or act of vandalism);
• Theft of movable property or theft of its individual parts (radio tape recorder, wheels, bumpers, moldings, etc.);
• Causing harm to the client’s health (due to one’s own negligence, due to illness or as a result of the influence of third parties);
• The onset of civil liability (in this case, compensation for damage occurs not in favor of the policy owner, but for those affected by his actions);
• Vehicle breakdown (in such situations, a free specialist visit to the site and subsequent evacuation of the vehicle to the nearest service station are provided).

At the same time, the cost of CASCO for a new or used car is calculated individually, depending on the package of services chosen by the client. How to find out the exact price of comprehensive car insurance for a specific car brand, we will consider below.

Examples of prices in 2021 for CASCO

So, it’s worth considering at least a couple of examples so that you can roughly navigate the cost of insurance.

For a Lada Granta in Moscow, CASCO will cost 37,219 rubles, for a Kalina - 32,205 rubles, for a Chevrolet Cruze - 49,135.

You can find out more about all the prices for a specific car on the website. Or you can do the calculations yourself.

Insurance for a new and used car will be 4-12% of the total price of the vehicle. Of course, the amount is not small, considering the current cost of new cars, but the driver can always receive privileges from the organization if he drives for several years without getting into an accident. Firstly, it is beneficial both for the driver himself and for the company. Secondly, careful driving is the key to safety.

What is the cost of insurance?

The total amount payable for a policy is based on several criteria, some of which are mandatory, while others are optional. The first category includes:

• Client's age;
• Year of manufacture of the vehicle;
• Driving experience;
• Vehicle class and equipment;
• Availability of a franchise;
• Type of vehicle purchase (on credit or payment without installments).

Factors not included in the standard list include the following: the selected service package (minimum or full) and the presence of additional options in it. But we will find out later in the article how each of the listed points affects the price of CASCO insurance.

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In total, Russian insurance companies (“RESO-Garantiya”, “Alfa-Strakhovanie”, “Ingosstrakh”, etc.) are ready to offer their clients two policy options that differ in functionality:

• Initial (the cheapest option, providing protection of civil liability and compensation for part of the damage received as a result of an accident);
• Maximum (extended package, which includes options from the starter set, as well as compensation for car theft, coverage of all types of vehicle repair costs and driver treatment).

It is important to know! At the same time, agents must inform the client about the estimated cost of each policy. And he himself will decide which CASCO insurance to apply for, based on his financial capabilities.

Age

In accordance with the regulations of insurance companies, citizens under 21 years of age will pay for a comprehensive coverage at an increased rate. And this decision of the Investigative Committee is explained by the lack of driving experience among young people.

However, an increased rate is also provided for pensioners (over 65 years of age). But in this case, office employees refer to the client’s poor health (due to poor vision, hearing, heart disease and other pathological manifestations, the chance of an accident involving the elderly increases significantly).

Experience

Experience is one of the key parameters for calculating the cost of CASCO, since in practice, traffic accidents more often happen to novice drivers who have a minimum of experience in driving a vehicle. Therefore, for beginners, the policy rate reaches about 9-11% of the value of their movable property. Experienced motorists pay a much lower percentage. But upon reaching the age of 65, their accumulated experience is gradually canceled, and the price for insurance begins to grow rapidly, increasing every year by 1-2%. Based on this, it follows that the driver’s age and his experience are interdependent.

Vehicle make and year

The cost of CASCO for car models in 2021 is calculated based on three main factors: theft statistics of a particular brand, its technical condition and year of manufacture. Let’s look at which vehicles are the most expensive today in the table below:

It is worth noting that the CASCO price for new cars differs significantly from the cost of the policy for used cars. But this difference is noticeable only on models from the same price category.

Number of registered persons

Many complex-type insurance documents have a “multidrive” option by default, which allows the vehicle owner to add an unlimited number of drivers to the cover. At the same time, calculating the final cost of a document with a large list of registered persons is quite simple, since it is based on the performance of the worst (inexperienced) motorist. The most frequently mentioned service is used by citizens organizing passenger transportation by taxi or bus.

Franchise

A deductible is an individual indicator indicating the frozen amount of compensation that the insurance company does not pay to the citizen in the event of damage. It can only be included in the contract with the client’s consent. But the benefit from this will be doubtful.

It is important to know! After all, if the check for the repair of movable property does not exceed the established limit, then the car owner will have to pay for it himself. In other cases, with large expenses, the insurance will pay the victim only part of the agreed amount, minus the deductible.

But if you take into account how much a CASCO policy for a car costs in 2021, then a 2-3% discount when applying for it for franchise owners will turn out to be quite small.

Other

Some reputable companies specializing in providing financial protection for vehicles (Alfa-Insurance, RESO-Garantiya, Rosgosstrakh, etc.), when calculating the cost of the policy, pay attention even to the little things:

• The presence of scratches, dents and chips on the body (such touches may indicate the driver’s participation in minor accidents, and therefore higher rates will initially be provided for him);
• The number of requests for compensation payment under the previous policy (the more often the client asked for compensation for damage to the vehicle, the more likely it is that the rate for him will be too high or he will be refused insurance altogether);
• Equipment of the car (if the car has an alarm system, and its windows and doors are securely closed, then the likelihood of theft of such a vehicle will decrease to zero. Along with it, the final cost of the policy will also decrease. However, agents can carry out an inspection only with the permission of its owner);
• Data on recorded traffic police fines (the nature of violations and their frequency are considered).

It is important to know! Based on the listed indicators, the insurance company can determine exactly how much CASCO costs for a particular car. But it wouldn’t hurt for the car owner to master such skills.

Insurance conditions for a VTB24 car loan

Unlike passenger vehicles, when insuring trucks, rates for theft and damage from third parties are not so low. This is due to the statistics of theft and opening of the cargo compartment by attackers. For this reason, you won’t be able to save a lot by applying for CASCO insurance only for events related to the actions of third parties.

Another nuance is the GPS vehicle tracking system. Such a system is rarely installed in passenger cars, especially if it is not a standard option. This is due to the low usefulness of such a device.

When installing such a system on a truck, in addition to reducing the cost of a voluntary truck insurance contract, the vehicle owner receives additional control over his employees.

ATTENTION: An interesting option for reducing the cost of a CASCO contract for freight transport is a franchise. The fact is that it is often more profitable for a company to repair minor damage on its own, so as not to increase the cost of a future policy and not waste employees’ time on paperwork with the insurer, which is already paid from the company’s budget.

Also, you should pay attention to the terms of the contract and study each clause. The fact is that in a trial between an individual and an insurance company, the courts initially take the position of the former, this is how Russian practice has developed, but in a trial between two companies, the court initially takes a neutral side and even if there is a dubious clause, it may not satisfy the insured’s claim due to the fact that he conducts business activities, which are initially associated with taking on risks under contracts.

In general, voluntary insurance of trucks is not much different from insurance of passenger vehicles, although of course there are features and nuances that were mentioned above. But if you carefully read the market offers and the terms of contracts of specific companies, you can get reliable financial protection for your commercial activities.

The cost of comprehensive insurance varies significantly among different companies. For example, a policy for the same car may cost 30 thousand rubles in one company, and 90 thousand rubles in another. To find a good deal, you need to find out the cost of the policy from several insurers. Previously, this took several days.

Nowadays you can find a cheap offer in just a few seconds. You can do this using the Sravni.ru comprehensive insurance calculator. Additionally, you can save on your policy if: - choose a large deductible; — enjoy discounts when switching from one insurance company to another; — buy partial comprehensive insurance (for example, insure the car only against theft or only against damage).

Register a franchise. CASCO deductible is the amount of insurance payment that the car owner pays during an insured event. To save money, pay part of the insurance, which during an insured event compensates for damage starting from a certain amount.

Example: you paid 5,000 rubles, if the damage is up to 30,000, you repair it yourself. If repairs are needed for a large amount, it will be reimbursed by the insurance company.

Buy CASCO 50/50. When purchasing a policy, pay 50 percent of its cost, and pay the remaining half in case of a complex accident. You save money if you don't get into accidents.

Protect your car only from theft. If your accident-free driving experience exceeds 5-7 years, take out a theft-only policy. It will cost 70-80% less.

Set an alarm. If the car is not equipped with alarm systems, the cost of insurance will increase by 10 - 15%. To save money, install an alarm and add mechanical security systems.

Avoid repairs. Some insurance companies offer to pay only for parts damaged during an accident. You can independently choose a service station cheaper than what the insurer offers.

Remind the insurance company about discounts for length of service. For every year of accident-free driving you are entitled to a 5% discount. Don't forget to tell your insurer this.

Take advantage of promotions and special offers. See which insurance companies offer discounts. To compare offers, use our calculator

• The insurance period is for the entire loan repayment period.
• The minimum contract period is 12 months
• The policy renewal period is 10 days after the expiration of the previous contract
• The loan amount is the market price of the car in the first year or the loan balance in subsequent years.

"Freedom of choice". To buy a used car. The loan amount is from 150,000 to 1,500,000 rubles for the purchase of a foreign car, up to 400,000 rubles for Russian cars. The annual rate is 17.9%.

"Autoexpress". Loan for new and used cars in half an hour. The maximum amount is up to 1.5 million rubles. Loan rate - from 10% taking into account state support.

"Instead of CASCO" Issued for cars up to 7 years old. If the car is stolen or damaged in an accident beyond repair, the bank will write off the debt.

When taking out insurance, the bank offers more favorable car loan conditions:

• reduces the loan interest by 0.5-2%;
• reduces the down payment amount by 10%;
• increases the loan amount by 50-500 thousand rubles.

Let's look at the example of the Autoexpress program, which works with and without a policy.

The cost of the policy depends on:

• SC conditions;
• market value of the car;
• amount and terms of the loan.

To compare prices for all VTB24 insurance partners, use the Revizorro.ru calculator. The program will automatically perform the calculation and show you the result in 1 minute or less.

To explain it in simple terms, a deductible is a sum of money that is deducted from the amount of payment due in insurance cases. Its use allows you to reduce the cost of your CASCO contract and eliminate the mandatory contact with the insurance company in cases of minor accidents.

Using the example, the CASCO franchise works as follows:

• Let's say we indicate a franchise of 5,000 rubles.
• The cost of insurance is reduced by this amount.
• However, in the event of an insured event with damage of 15 thousand rubles, the insurance company will pay only 10 thousand rubles.
• If the contract specifies repairs at a service station, we will have to pay an additional 5,000 rubles from our own funds for repair work.

Thus, the deductible will be beneficial to the policyholder in case of accident-free driving or in order to save time in minor accidents.

The CASCO agreement stipulates the insurance amount that you will receive in the event of a complete loss of property. This amount is calculated based on the age and condition of your car and can be changed, as a rule, only within small limits from the calculated one. The CASCO online calculator is able to determine the cost of the car from the parameters you entered; however, the insurer makes the final decision after inspecting the vehicle.

If you decide to buy a new car on credit, then voluntary CASCO will become mandatory for you. After all, the car is pledged to the bank, and the bank insures it at your expense. In this case, the bank will oblige you to insure the car not with any insurance company, but only with the bank’s partner company, and at the maximum rate for all types of risks.

The easiest way to save as much as possible on CASCO insurance is to use an online calculator. Please note that you should not buy a policy on unknown sites or from unfamiliar insurance companies.

VseKASKO.rf calculates the cost of insurance only for well-known insurers with a license from the Bank of the Russian Federation. After the calculation, for the convenience of users, links are provided to the official websites of insurance companies, where you can continue to apply for a CASCO policy online.

In addition, here are some more useful tips on how not to overpay for insurance in 2021:

• Consider starting a franchise. This will save you up to 50% of the original price.
• Do not include too young drivers, as well as drivers with little experience or poor insurance history, into your policy.
• Consider purchasing an MTPL policy from the same insurer from which you purchase CASCO insurance. Many companies offer a discount for purchasing several insurance policies at the same time.

Why do different models have different prices?

It's no secret that different companies (VSK, Ingosstrakh, Tinkoff, etc.) provide individual tariffs for comprehensive insurance. But an equally significant difference in the price for the policy is achieved depending on the make of the car. The most significant criteria in this matter are:

• Engine power (the more cubic meters a vehicle has, the more expensive its financial protection will be);
• Year of manufacture (inc. companies provide significant discounts on new cars);
• Theft statistics;
• Cost of the car;
• Body type (lower tariffs are set for a passenger car or motorcycle than for a bus or KAMAZ truck).

Due to the fact that the insurance policy rate changes many times every year, you can only find out the exact cost of purchasing a policy for a specific brand using an online calculator. You can find it on the official website of insurance companies, Alfa-Insurance, SOGAZ, etc.).

How to find out the cost of the policy?

Each insurance company has its own formula by which the cost of any insurance is calculated, including Mini CASCO. Therefore, the price for the same type of insurance in different insurance companies may vary significantly.

If we take into account the most popular coefficients, we can create a formula for calculating the cost of an economical CASCO policy.

C = (Kb * Ki * Kv * F * Kr) + (Kx * GV * Ku * Kr) Coefficient designations:

• KB – basic tariff.
• Ki – vehicle wear.
• Kv – driver’s age.
• F – franchise indicator.
• Kr – availability of installments.
• Kx – “Theft” option.
• GV – the year the car was produced.
• Ku - anti-theft equipment.

Minimum price for a car

For example, let's calculate the cost of a Mini CASCO policy in various insurance companies using an online calculator from Sravni.ru for a 2012 Ford Fiesta. The data is shown in the table:

Policy price for a used car

We found out how much CASCO costs for a car ex-showroom, based on its year of manufacture and original price. However, completely different tariffs are provided for used cars, 2-3 times higher than the rate when registering a new vehicle. And although at first glance the difference in cost seems quite significant, in reality everything is completely different.

It is important to know! Considering that used movable property is sold 25-50% cheaper than cars that have recently rolled off the production line, we can conclude that the policy itself for a motorist will cost a slightly lower amount. After all, its price directly depends on the mentioned indicator.

The established premium (for 1 year) in such a case will not be so large. Therefore, there are still benefits from buying used vehicles.

How much does CASCO car insurance cost for a year?

The standard price category for an insurance policy is from 4 to 12% of the market value of the car.

High tariffs are based on statistics according to which the largest number of thefts and accidents occur in Russia. But there are also exceptions. Drivers with a clean insurance history can receive more favorable conditions.

The table shows the cost of a CASCO policy for a year for common and budget brands of cars. The cost of CASCO insurance for cars costing more than 2,500,000 rubles will be approximately 4-7% of the market value of the car.

Cost of car insurance on credit

Many motorists are confident that financial protection of their credit car will cost them much more, due to the need to obtain a full package of insurance services. However, this is not quite true. After all, according to the regulations of insurers, the client himself has the right to choose the optimal program for himself, relying only on his financial capabilities. Imposing additional options is an attempt to extract money from an inexperienced driver.

At the same time, the policy price for a car purchased through leasing will still be higher. But the reason for the increased tariff in this case is the interest imposed by the bank on top of the cost of the vehicle itself. And in order to prevent agents from deceiving you, you can conduct a complete analysis yourself, based on information from the certificate invoice.

We found out how much CASCO insurance costs in 2021, and by what criteria it should be calculated. In conclusion, we add that comprehensive protection is not mandatory, along with compulsory motor liability insurance. Therefore, if you do not have financial resources, you do not need to apply for it.

Responsibilities of the parties in the event of an insured event

Accredited insurance companies are insurers that comply with the bank’s conditions. VTB24 cooperates with 32 companies, including:

• "VTB-Insurance";
• "INGOSSTRAKH";
• "Rosgosstrakh";
• "SAC "ENERGOGARANT";
• "Alliance";
• "SOGAZ";
• Transneft;
• "Agreement";
• "SG "UralSib";
• "SG" Companion ";
• "SK SOYUZ";
• "SG "ASKO";
• "Spassky Gate".

The full list of accredited insurance partners can be found on the bank’s website. If your insurer is not on the list, the lender may make it its partner. Please suggest an insurer in your application and after verification you will receive a response.

“Gosavtopolis” helps not only to calculate CASCO insurance in several insurance companies of the Russian Federation, but also provides free post-insurance services to its clients:

• — assistance in case of accidents, insurance payments, advice on insurance, auto examination,
• 24-hour consultations in case of an accident, theft and other insurance events (including when the insurance company is not working - in the evening, at night, on weekends and holidays),
• quick call to a traffic police officer, ambulance, rescue service or other service in the event of an insured event,
• qualified control of your payment case (tracking payments, recommendations for drawing up an application for payment, etc.),
• timely warning about the expiration of the policy.

In the vast majority of cases, after (or before) issuing CASCO insurance, a pre-insurance examination is required. During this procedure, an insurance company specialist identifies current shortcomings and damage to the car, after which he enters all the information into a special form called an inspection report.

Please note that if an insured event occurs, the insurance company will most likely refuse to restore the elements recorded in the inspection report, even if they received much more damage after the accident.

Some useful tips for pre-insurance examination

• Be sure to wash your car so that the appraiser can clearly see the condition of the body and paintwork.
• Make sure that the VIN and other numbers of all components of your car match those entered on the form by the appraiser. Even a single typo can cause a lot of problems later.
• If the appraiser finds no damage, make sure he or she fills in the blanks.
• If the appraiser does find damage and you plan to fix it in the future, be sure to visit the insurance company after repairing the damage to conduct an additional inspection of the car.

What other factors can affect the price of CASCO insurance?

Changes in the statistical data of Russian auto insurers are not enough to talk about a possible sharp increase in the cost of CASCO policies. But are there other factors that can affect tariffs? To answer this question, you need to remember what the price of voluntary car insurance consists of.

1. Contributions to reserves in case of an insured event.
2. Costs of running a business (maintenance of offices, salaries of managers).
3. Commission for intermediaries.

Everything is clear with contributions to reserves: statistics show that there is no sharp increase in payments and no significant reduction in CASCO fees, so there is no point in dwelling on this point. The costs of running a business can affect the level of tariffs, for example, with a sharp increase in the cost of renting office space, which is unlikely to happen in the current economic conditions, so you should not be afraid of rising prices because of this item.

The level of commissions to intermediaries when drawing up CASCO contracts has long stabilized: as a rule, insurers do not pay agents more than 20-30 percent of the insurance premium. Accordingly, this point can be discarded.