The CASCO insurance policy protects the car from common risks, including theft, road accidents, vandalism, fire, and natural disasters. In the event of an insured event, the policyholder does not spend on repairs but receives compensation from the insurer in the form of cash payments or free services at a service center.
VUSO Insurance Company experts answered common questions about voluntary car insurance.
What CASCO policy covers
Voluntary CASCO insurance covers damage to the car while driving or parked. The list of risks depends on the terms of the contract and may include theft, all types of road accidents (including those without third-party involvement), damage from falling objects or vandalism, and damage from fire and natural disasters. The insurance company will pay compensation even if the car is beyond repair.
The insurer will not cover repair costs if the body was damaged due to wear and tear or driving under the influence. Damage to wheels (tires, rims) and theft of license plates are not included in the list of risks.
Flexible conditions
The CASCO program can be “full” or “partial.” The first option is more expensive but covers all common insurance cases, including accidents caused by policyholders.
Partial insurance may only protect against major risks (road accidents and theft) or include an extended list with exceptions. For example, the insured can refuse compensation in the event of a fire or exclude the “payment in case of traffic violations” clause.
Additional services for CASCO policyholders
Owners of “full CASCO” policies can use additional services that allow solving a range of issues with minimal effort. For example, VUSO provides its clients with the KASKO Assistance card, which ensures comprehensive support in case of an accident or breakdown. The insurer covers the call for a tow truck, replacement car, parking and hotel expenses, and also compensates for public transport fares. If necessary, the insurance company will provide emergency door unlocking, replace a tire, or deliver fuel.
Payments under the CASCO policy
After an insured event occurs, an assessment is conducted to determine the amount of damage and calculate the cost of repair/replacement of parts (according to the price list of a specific service station).
A percentage is deducted from the resulting amount, which depends on the degree of vehicle wear (age and condition).
How much CASCO costs
The cost of a CASCO policy is 4–8% of the market value of the vehicle, which depends on the “age” of the car at the time of signing the contract. The insured can save by including deductibles for damage and theft (a percentage deducted from compensation) and removing irrelevant risks.