CASCO policy from "RESO" - Customer reviews, Cost calculation, Insured event and Payments

Often, full CASCO insurance can be very expensive, especially for luxury brands. Therefore, many experienced drivers choose CASCO against theft and total loss (total) in order to protect themselves from the largest expenses, reserving the right to repair the car for damage. Today, not many insurance companies accept insurance for both risks, due to the increased number of fraudulent actions on the part of the policyholder. According to statistics from one of the insurance companies, such a package of risks turned out to be unprofitable and they completely closed the sale of this product.

Definition of theft and total in CASCO

theft is the unlawful taking of a car or other vehicle without the purpose of theft (Article 166).

Theft in criminal law is a crime consisting of the unlawful gratuitous seizure of someone else’s property and (or) its conversion to one’s own benefit or to the benefit of other persons for personal gain, causing damage to the owner or other holder of this property. The Criminal Code of the Russian Federation distinguishes the following types of crime: theft (secret crime), robbery (open crime, committed without violence or with violence not dangerous to life and health), robbery (attack with the aim of taking property, combined with violence dangerous to life and health, or the threat of such violence), fraud, extortion.

Total is the complete destruction of the car. If the cost of repair is more than 65% of the cost, then the vehicle is recognized as total or cannot be restored. The percentage varies among different insurance companies and is specified in the insurance rules.

Documents for insurance

When a stolen car is insured under CASCO, its owner has the right to receive compensation, since this insurance program covers the risk of “Theft.” The rules of many insurers stipulate that the victim must notify the insurer of the incident within 24 hours, and then visit his office with a package of the following documents:

• certificate from the police about the theft of a car;
• a copy of the resolution to initiate a criminal case on the fact of theft;
• a written statement from the client, which is filled out on company letterhead in the presence of an employee;
• a letter of guarantee stating that the policyholder undertakes to return the funds paid by the insurer in full within 14 days after the discovery of the stolen car (if the insurer requires this);
• civil passport or other identity card;
• CASCO insurance policy (if it is also lost, this is not a reason to refuse payment);
• agreement with the insurer;
• a check confirming payment of the insurance premium;
• a complete set of keys, chips and key fobs for the car, alarm, anti-theft systems (if available);
• documents for the vehicle: PTS, STS, diagnostic card, etc. (if these papers are stolen along with the car, this must be indicated in the police order).

If any of the above papers are in the possession of the police, the policyholder provides a certificate of their seizure. It is useful to know that the absence of important documents from the policyholder does not give the insurer the right to refuse to pay compensation. At the time of concluding the contract, all documents were available and the company must have scanned copies of them and other information in electronic form. Everything that was stolen along with the car must appear in the certificate and in the resolution - this is important!

List of companies by CASCO theft/total

Below we provide a list of companies that separately insure theft, damage, and total loss + theft. You can insure your car against damage without theft in all companies.

You can only insure your car against theft with the following insurance companies:

• Reso-guarantee (risk of theft)
• Tinkoff
• Zetta insurance
• Liberty (MINI CASCO)

CASCO against theft and total loss can be purchased from insurance companies:

• Ingosstrakh
• Liberty (with a large damage deductible)
• Tinkoff
• Reso-guarantee (with a large deductible for damage)
• Zetta insurance
• Renaissance
• Ergo (with a large deductible for damage)
• Alfa insurance

As you can see, the list of insurers is not large, but it is quite possible to choose a profitable CASCO insurance against theft and total loss. You can calculate the cost on the insurance company’s website or contact a specialist. And our table below will help you understand where CASCO is best.

What to do if your car is stolen?

First actions

If the car is stolen, you must:

• call the insurance company and report the loss of the car;
• write an application for an insured event, attaching a set of documents for the vehicle and documents from the police or traffic police confirming that a case of theft has been initiated;
• in some cases, write a waiver of the vehicle being stolen in order to receive the full insurance value of the object.

The insurer is obliged to consider the application within two months from the date of receipt of the application.

How to receive payment?

To receive payment, most often it is necessary to obtain a police order to stop the search activities for the car (the law allows for 2 months for them). Payment can be expected soon.

If the car is found later, the policyholder can either return the payment and get the vehicle back, or leave it with the insurance company.

Payments under CASCO theft/total loss

As we have already said, payments, standards and payment terms are different for all insurers, and if you have already decided to insure, then you need to know: when they will pay and how much.

We have compiled a detailed table of insurance companies for you. It indicated the percentage of the cost of the car at which the car is recognized as total. Does every insurance company take into account wear and tear in case of theft and total loss? What happens to the usable remains of a car as a result of total loss, how they are calculated, and what is the payment period after the insurance company (insurance company) recognizes the insured event. GAP is insurance for the full value of the car excluding depreciation. It only works if there is a risk of theft and complete death. That is, for a small amount of insurance you buy the opportunity to receive the full insurance amount under CASCO

Cost of car theft insurance

What does it depend on?

The cost of insurance against theft is calculated by each insurer using its own algorithms, in accordance with their statistics of insured events.

However, the set of parameters taken into account in the calculation is almost the same.

Vehicle age and mileage

The older you are, the higher the cost of insurance. Cars older than 10 years are usually not insured.

Car cost

The insurance rate is determined as a percentage of the value of the vehicle, which can be declared or estimated. In the second case, you can resort to the help of an independent expert who has the appropriate license. The cost of the car can be assessed with or without taking into account wear and tear, on which the insurance payment will depend.

Vehicle model

Insurers keep statistics on vehicle thefts. The most stolen models cost more to insure.

Number and experience of drivers included in insurance

The fewer drivers included in the insurance and the more experience they have, the lower the cost of insurance.

Anti-theft equipment

Depending on the availability and model of anti-theft devices, the discount on anti-theft insurance can range from 5 to 80% (satellite anti-theft systems).

Franchise amount specified in the contract

The deductible is the amount of liability in money that the policyholder assumes. It can be determined in a fixed amount or in a share and be conditional (the insured amount is paid in full if it is higher than the franchise amount) or unconditional (the insured amount is paid minus it). The deductible can apply to the entire insurance period or to a separate group of insured events (after the first, second, etc.). Insurers need a deductible to exclude small insurance cases when the cost of registration exceeds the amount of the payment itself.

Insurance with a high deductible is cheaper.

How can you save money?

To save on drawing up an insurance contract, you can:

• choose a large deductible amount;
• provide evidence of your positive payment history for insurers;
• stipulate in the contract the use of certain anti-theft means;
• in some insurance companies - buy a CASCO policy online.

Calculate CASCO against theft and total loss

You can calculate CASCO against theft and total loss on the website of insurance companies, but they, as a rule, give a calculation of full CASCO, and for calculations for 2 risks it is easier to contact our specialists. We will manually calculate the cost in all companies and give you a comparative analysis. CASCO insurance through our insurance broker is issued without commissions and with an additional discount from us.

What affects the cost?

In insurance against theft, the age and experience of drivers will not be taken into account, but the presence of security systems will be taken into account in the first place. Satellite signaling has a significant downward impact on the CASCO calculation. You can save 15-20% of the cost of the policy. But is it necessary? After all, a satellite costs a lot of money and the service is also paid. It's up to you to decide. But you will decide this if the make and model of your car is not on the list of the most stolen cars.

Each insurance company has different lists of such cars. As a rule, the most expensive, popular and stolen cars are accepted for insurance against the risk of theft only with a companion, and without one the car will not be accepted for insurance.

If you decide to install a satellite, then you should check with your dealer about the possibility of installing a specific make and model of the satellite on your car. If the device is installed incorrectly, the vehicle may be voided from warranty. Conventional sound alarms, mechanical ones on the hood and steering wheel and other marks usually do not greatly affect the cost when calculating CASCO insurance against theft and total loss.

The cost of a theft policy varies from 1 to 1.5% of the value of the car, and with total loss from 2% to 3.5%, depending on the make and model of the car.

How much is it realistic to insure a car against theft?

Almost all insurance companies, when drawing up a CASCO agreement, include a standard set of compensation - “theft” and “damage”. This happens because for companies selling such policies, it is important to equalize the loss rate for each risk. After all, the frequency of compensation for losses associated with damage ranges from 50 to 100% annually, and theft is a rare event, accounting for only 2% of the total number of recorded insurance cases. Only the amount of payments for the risk “Theft” is several times higher than compensation for damage, since when such a loss is registered, the entire insured amount is paid in full.

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This is precisely the reason that not every insurance company can offer to insure a car against theft and nothing more. In addition, the emergence of a similar situation in the insurance market was influenced by the events of the 2000s, when issuing protection only against theft was quite popular among policyholders. After all, it cost much less than full CASCO insurance. And scammers did not fail to take advantage of this. The policy was often issued for a car that no longer existed or was made from several broken ones. And after the company accepted the statement of theft, its real market price was paid. At that time, insurers suffered huge losses and almost all rejected such a service as concluding a CASCO agreement only against theft.

But now you can still find companies that provide their clients with the opportunity to insure their car only against theft, which is very rare. Such insurance companies detect fraudulent activities even at the stage of preparation for concluding a contract. The main points of such a check are a thorough pre-insurance inspection and examination of original documents.

Another important aspect when deciding on the possibility of concluding a CASCO policy only with theft is the presence of a modern anti-theft system. If the alarm system installed on your car does not meet some parameters, then failure is inevitable.

When can a CASCO payment be denied in case of theft?

You need to understand that for safety, you need to take your keys and documents with you, and under no circumstances leave them in the car. And the PTS should be kept at home or in a safe deposit box. Especially, thefts are frequent in crowded places: shopping centers, cinemas, stadiums and others. An intruder will steal your keys and you won't even notice. Therefore, put your keys and documents away. If the car is stolen along with the documents, the insurance company may refuse to pay and then all disputes will have to be resolved through court. Ingosstrakh, for example, can accept insurance with the “Theft with keys and documents” option, but for an additional fee. Standard coverage includes “Theft without keys or documents.”

According to statistics, more than 30,000 cars are stolen per year in Russia alone. The most stolen brands are the most common models on the roads. Some are stolen to order to alter documents for the purpose of sale, and some cars are dismantled for spare parts, because... This is a liquid product. Parts often take a long time to arrive from the factory or are even difficult to obtain. Attackers have long learned to steal cars even with satellite alarms, having the latest equipment to disable and “jam” the satellite. They watch the owner of the marked car, formulate a plan and act while you sleep.

In order not to become a victim of such a sad picture and not to lose your “iron horse,” buy CASCO insurance against theft and sleep peacefully. We will always help you with insuring your car.

How to receive an insurance payment step by step

So, in the event of a car theft, the OSAGO auto insurance policy will not help its owner in any way to receive compensation. However, the owner has the right to terminate the contract and take back part of the unused insurance. To do this, you need to visit the insurer’s office with the following documents:

• MTPL insurance policy;
• a certificate (copy of the resolution) from the police about the initiation (termination) of a criminal case in connection with the theft of a vehicle;
• passport.

An application is written on the spot and the terms for receiving the balance of the insurance amount are agreed upon. Usually, when a car is stolen, money is paid immediately or within 5 days by bank transfer. In this case, the maximum period for payment of funds upon termination of the contract is 14 days.

Owners of theft insurance - CASCO policy - in the event of vehicle theft will be able to receive a more significant compensation than if the insurance contract is terminated, because this program provides for this risk. To do this, you need to act in the following sequence:

1. Step one: notify your insurer about the accident. Some companies require advance notification of an insured event by telephone so that the consultant can record the claim. It is very important to comply with the deadlines within which the client must report the incident, otherwise the insurer will refuse to pay. They are stipulated in the insurance contract.
2. Step two: if your credit car is stolen, notify the bank about what happened. Auto theft insurance is a mandatory requirement for the lender. Consequently, he has the right to be one of the first to know about the theft, because the payment will be transferred to the creditor, either directly or through the policyholder - it all depends on the terms of the contract.
3. Step three. Submitting documents to the insurance company. Only from the moment of submission, consideration and acceptance of papers and a written application can an insurance payment be expected. Even if the client notified the insurer by telephone two weeks earlier, the countdown starts from the date of registration of his application.
4. Step four. Receiving payment. At the appointed time, the applicant receives compensation at the cash desk or by bank transfer (in this case, you must provide details to the insurer in advance).

The amount of insurance payment under CASCO is determined according to the terms of the contract, and each insurer has its own prices. When choosing a company, the policyholder must understand that everywhere has its own rules, which often differ significantly from each other. Typically, the client receives a refund within 30 days of submitting the claim.

Please note that if the client did not receive any compensation for other risks during the insurance year, for example, for the “Damage” risk, he will receive the full amount of compensation for theft. If repairs have already been carried out at the expense of the insurance company, the amount of compensation will be reduced by the cost of the work carried out earlier. In addition, this amount is affected by the deductible and the actual cost of the car, taking into account depreciation.

On a note! Of course, documents are submitted to the insurance company after receiving the necessary papers from law enforcement agencies confirming the incident and describing its circumstances.

Payments

If you have insured your car against theft or theft, this does not mean that as soon as it disappears from its usual parking place, the insurer will immediately pay you its value.

Payment for the theft can only be received after the investigation is completed, and it can last more than one month. Another nuance that policyholders often forget about: the payment is made minus depreciation and deductible (the part of the loss not paid by the insurer).

If the car is not new, and when concluding a contract, you chose a large deductible in order to save money, the amount received in your hands may not be so large. Before receiving payment, a written undertaking is usually signed with the insurer, according to which, if the police find the car, you will be obliged to return the money.

Payment for total loss of a vehicle is made after submitting an application and inspecting the vehicle.

Who determines the size?

The amount of insurance compensation is determined by the insurer in compliance with all requirements of the contract. The amount of payment cannot exceed the amount insured. If the car is stolen, the payment will be the full amount of this amount minus the deductible (if it has been established). In case of complete death, the order is different.

If the contract states that complete loss is recognized if repair costs amount to 80%, then with the cost of the car being 1 million rubles, costs of 800 thousand rubles will be considered meaningless and the policyholder will receive monetary compensation, which is calculated using a special formula .

In some contracts, the company reserves the right to compensate the insured for costs by providing property similar to the lost one.

In the event of a complete loss of the car, the insurer evaluates its remains, calculates wear and tear and deductible. After deducting this data, the payment will be made. The deduction percentage can amount to a very decent amount if the car is used and the deductible is set to a maximum. The policyholder has the right to appeal the final amount to be paid and go to court.

How do they happen?

How are payments made in the event of a total loss of a car?

1. After the occurrence of an insured event, the insurer is informed about this (usually within 1-2 days).
2. The traffic police or other authorities that can draw up a conclusion (for example, fire services) are called to the scene of the incident.
3. A representative of the insurer (accident commissioner) is called.
4. A package of documents for payment is submitted (application and other documents).
5. After 2-3 weeks you can receive payment.

Important: It is very important to follow all procedures to ensure that you receive compensation. If you ignore the requirements of the contract to inform the insurer and simply come for payment, a refusal is very likely.

To be on the safe side, many clients even take photographs of the accident scene and collect witness statements so that the insurance company has no reason to refuse compensation.

We are writing a statement

The application for payment of insurance compensation is written by hand and in any form.

1. It is indicated when and where the car was destroyed or stolen (stolen). The nature of the damage (in case of total loss) and what measures were taken by the insured to save the property are noted.
2. It is recorded when an application was made to the insurance company with a report of an insured event, as well as to other competent authorities (traffic police, etc.).
3. But the most important point of the application is, of course, the amount of damage that you are asking to be compensated. The application must be signed by the policyholder and it would be good to make a note on its copy that it has been accepted for consideration.

Documentation

In addition to the application, the insurance contract itself , registration documents for the car, complete sets of key fobs, keys, cards (in case of theft or theft), and a copy of the decision to initiate a criminal case (if the car was taken possession of by criminals) are attached.

In some cases, they may also be asked to provide a decree to suspend the preliminary investigation or a decree to terminate the case.

After the complete loss of the car, you will also need a contract and documents for the car, plus original certificates from the relevant authorities (State Traffic Police, Ministry of Internal Affairs, etc.), confirming the fact of the occurrence of the insured event.

Deadlines

The period for payment of compensation directly depends on the severity of the insured event and the terms of the contract. If the car is completely destroyed and this is confirmed by an inspection by the insurer and an expert, then, if there is no suspicion of fraud, payment can be received within 1-2 weeks.

Compensation for theft and theft may be delayed if the police delay the investigation. But the payment period specified in the insurance cannot be violated. On average, no more than a month passes from the moment of submitting the application to receiving the money.

Partial car insurance

If a car owner wants to save money, he can purchase partial CASCO insurance. This type of insurance provides protection for the car against a limited number of threats.

What does it include?

As a rule, under partial CASCO a car can be insured only against damage caused as a result of:

• accidents (fire, collision, falling into water, capsizing, etc.);
• unforeseen situations (for example, being hit by a stone flying off the wheels of another car, falling through the ice, a car falling as a result of a bridge collapse, etc.);
• uncontrolled phenomena (fire, explosion);
• natural disasters (earthquakes, landslides, hail, storms, etc.);
• any objects falling on the car (stones, snow, ice);
• illegal actions of attackers;
• actions of animals.

It is worth noting that insuring a car only against theft or theft is quite difficult . This happens to avoid the use of various fraudulent schemes by policyholders.

Partial CASCO insurance often involves insurance against damage, excluding the risk of theft. The absence of this option makes the policy cheaper, but not always more profitable.

Compensation amount

To determine what the amount of compensation for partial CASCO will be in the event of an insured event, a detailed analysis of the insurance conditions and circumstances, as well as the consequences of the incident, is required.

All conditions for determining the cost are fixed in the contract. However, the maximum amount of compensation cannot exceed the value of the car.

Partial CASCO differs from full CASCO not in the amount of payment, but in the set of insurance situations when the owner will and will not receive payment.

In addition, if the driver insured his vehicle only against damage, then the payment will be made for this risk. In case of car theft, partial CASCO will not apply.

average cost

The price for partial CASCO is much lower than for a policy that provides protection against all known risks.
Moreover, its size also depends on the individual characteristics of the car, its owner, the presence of a franchise, a set of additional options, etc.