Is it possible to purchase CASCO insurance for a period of less than a year?

For what period can a CASCO policy be issued?

CASCO is a voluntary type of vehicle insurance against theft, theft or damage. The list of risks is chosen by the car owner at his own discretion and is reflected in the contract.

In most cases, CASCO insurance is issued for a period of 1 year, but the agreement can be issued for a longer or shorter period. Under certain conditions, shortening the insurance period may be most beneficial. For example, if the car is used only in the summer, there is no need to enter into a 12-month contract.

Registration for a long period may not be profitable:

• due to the inability to calculate wear;
• Reducing factors are not applied for increasing length of service or driving without accidents.

The contract can be concluded for any period, even a week, but insurance companies are reluctant to agree to such periods.

How to calculate the cost for this program?

In contrast to the annual voluntary vehicle insurance program, the cost of a policy designed for six months or less will be calculated at lower rates and coefficients.

1. If the client purchases an annual product, then the percentage of the insurance payment will be no more than 60-70%. For this reason, more and more car owners assume that purchasing a contract with an insurance company for six months will allow significant savings.
2. Here it is worth paying attention to exactly what coefficients are used to adjust the amount. One of the important ones is the term coefficient, due to which a six-month policy is cheaper than half the cost of an annual one. The difference is from 30% to 40%.
3. This type of policy is not issued under a standard contract and is of a purely individual nature, since the insurance company will need to find out why their client decided to enter into an agreement for less than the full term.
4. If the contract is drawn up, for example, for the winter season, the corresponding additional coefficient will be taken into account in the calculation, but with the consent of the buyer of the service. You can independently calculate the price of the issue using the online calculator on our website.

We invite you to familiarize yourself with: Limitation period for debts of individuals

Is it possible to conclude an insurance contract for six months?

So if insurance companies do not welcome insurance for short periods, is it still possible to get CASCO insurance for six months?

The minimum insurance period is not regulated by law; each insurance company has the right to independently develop programs, setting fees and terms. Due to the fact that this type of insurance is voluntary, firms exercise their right and offer clients services at a profit.

CASCO for 6 months is an individual product, not a standard one, which you can take advantage of either by losing out on the benefits, or by choosing a company that offers a package on preferential terms.

In what cases will semi-annual CASCO be beneficial?

In certain situations, a CASCO insurance policy for 6 months may be the only acceptable and beneficial option due to the following circumstances:

• the expected service life of the vehicle is 6 months;
• alienation of property is expected (sale, donation, etc.);
• insurance is issued for the period of a trip or long trip;
• when using the machine seasonally (country season);
• the car is transferred to a third party for six months;
• when insuring special equipment, the operation of which requires a certain period (agricultural equipment during the sowing and harvesting season);
• some car owners enter into a contract in the winter, when the percentage of accidents is much higher.

When analyzing the cost of insurance for a year or 6 months, the benefit of a longer period is obvious. But many insurance companies use special car insurance packages for six months, with favorable conditions, to attract clients.

Who benefits from applying for a period of 1-3-6 months?

Among those motorists for whom it is more profitable to insure under CASCO for a short period of time, it should be noted those who rarely use the vehicle. This also includes those drivers who use the car only during a certain season. First of all, summer residents should be included here - indeed, why pay for CASCO insurance for those months when the car is constantly in the garage? The summer season does not last more than 5 months, so CASCO insurance for a year, which is quite large, is completely unnecessary.

Attention! It is also beneficial to insure for a short period of time for those vehicle owners who most often use their car in the winter months.

It is no secret that winter is the most dangerous time of year for motorists. The road is icy, slippery, frosty - if at the same time the car is moving at high speed, then the risk of an accident increases significantly. So, it is clear that six-month insurance for this period of time is very profitable for many motorists.

Differences between 6-month auto insurance and regular insurance

When insuring a vehicle for six months, the program has the same characteristics as the standard one. That is, the car is insured against basic and additional risks in the same way:

• damage (including total);
• theft (theft);
• protection of additional equipment (devices not provided by the manufacturer as part of the vehicle configuration);
• civil liability insurance (if desired, insurance of property, life and health of the driver and persons allowed to drive);
• accident (damage of varying severity to the insured person or death due to unforeseen circumstances);
• loss of commodity value (as a result of an accident and repairs);
• GAP (guarantee of preservation of value, that is, the opportunity to receive a compensation difference between the market valuation of the car and its price at the time of the insured event);
• unexpected costs (technical assistance, insurance of luggage, animals, calling a commissioner, etc.).

But there are also differences from the standard program. Consumers of short-term products are usually deprived of the opportunity to count on discounts, benefits, installment payments and franchises.

The cost of a six-month policy is about 70% of a 1-year contract.

CASCO for 12 months

There are situations when taking out a CASCO insurance policy for a car for 1 year would be a reasonable and only right decision.

If you purchase a car on credit, the obligation to purchase a voluntary insurance policy arises from the collateral agreement.

It also makes sense to take out an annual insurance policy, provided that you have only recently received your license and do not have the necessary skills and practice to drive safely.

If your car is one of the most stolen cars, then it would be wise to insure your vehicle so you can sleep peacefully at night.

Is it possible to purchase CASCO insurance in installments for 12 months?

But what should those who need to insure their car for 1 year, but do not have enough money to pay for the policy, do?

In your case, you can always find out about the provision of installment payment by the insurance company. The insurance conditions will remain the same, but the procedure for regulating an insured event will change. The opportunity to purchase a CASCO policy is provided subject to insurance for a period of at least one year. Installments are made by dividing the installment into 2 or 4 obligatory payments.

With obvious benefits and a small overpayment, this option is suitable for those who are not ready to part with the full amount of insurance compensation at a time. It must be remembered that upon the occurrence of an insured event, an obligation arises to pay the remaining amount for insurance.

Which insurance companies can I apply for?

You can apply for a standard installment plan for a period of 1 year at any insurance company. But along with the standard conditions for receiving installment plans, there are insurance organizations that have special conditions for receiving installment plans.

CASCO in installments at IC Soglasie

In Consent, payment by installments is possible in different ways:

• When drawing up the contract, a 50 percent payment is made, the remaining half is distributed over six months. In this case, the overpayment will be 3%.
• One-time payment of 40% of the price, then 2 times 30%, with a frequency of 3 months (40x30x30).
• The installment amount is distributed over 12 monthly payments.

CASCO in installments in Rosgosstrakh

Rosgosstrakh offers the already familiar 40x30x30 or 50x50 scheme, in which the second half of the policy cost must be paid within 3 months from the date of registration of the contract.

RESO Guarantee

RESO Guarantee provides its own vision of payments in the 50x50 format.

The first part is paid upon conclusion of the contract, the remaining part is paid within 6 months in a lump sum.

SK Ingosstrakh

Ingosstrakh works with its clients according to a 50x50 scheme, the amount to be paid is divided into 2 installments for a period of 3 months.

And for careful and experienced drivers, the Ingosstrakh company has provided a “Half Price” promotion.

At the time of conclusion of the contract, the policyholder pays half of the insurance premium. In the event of insured events such as theft or death, additional payments from the policyholder will not be required. Ingosstrakh undertakes to compensate for damage in full. If other insured events occur, in order to receive full compensation from the insurance company, you must pay the remaining half of the insurance premium. Transfer of CASCO insurance to standard conditions is allowed at any time.

As you may have noticed, everyone has different life situations and circumstances. And in order to choose the optimal insurance period, it is necessary to take into account many factors. We hope that our article was useful and informative for you. Have good roads and safe driving! We also recommend reading: Windshield replacement under CASCO: all stages of the procedure step by step.

If you have any questions or difficulties, you can always ask our online consultant for help via chat or call our toll-free number ext. 723.

Expert. I provide assistance in insurance matters and advise in the event of an insured event.

How to apply for a CASCO insurance policy for six months

If there is a need for short-term insurance, it is better to contact large insurance companies for guaranteed security and confidence in the correct execution of services and payments when risks occur.

Which insurance companies provide semi-annual insurance?

Among the large and well-known insurance companies that provide insurance services for 6 months are the following:

• Ingosstrakh;
• Rosgosstrakh;
• Agreement;
• RESO et al.

According to the ratings, the leading positions in terms of customer trust and service level are occupied by:

1. Rosgosstrakh.
2. VSK.
3. Tinkoff.
4. Renaissance.
5. Agreement.

But when choosing a suitable insurance company, the main thing is not the rating, but the acceptable conditions of insurance and payments.

In addition to insurance companies, brokers, for example, ECAB, provide relevant consulting services on the market. The purpose of their operation is to provide complete information to users about existing insurance companies and the list of their programs. This is especially true due to the constant updating of available companies.

List of required documents

Having decided on the insurance company, you need to prepare a package of documents for execution of the contract:

• statement,
• vehicle owner's passport;
• driver's license;
• PTS;
• vehicle inspection report for wear and damage;
• list of persons admitted to driving and documents for them (passports and driver’s licenses);
• diagnostic card based on the results of the technical inspection;
• vehicle registration certificate.

In addition to this list, each insurance company may require additional documents.

Policy cost

Calculating the cost of CASCO insurance is somewhat more difficult due to the use of a number of reducing factors. But in any case, the cost of the policy should not exceed 1/5 of the price of the car.

The most convenient way to carry out calculations yourself (before contacting the insurance company) is to use an online calculator. This service is convenient because it allows you to calculate a preliminary cost taking into account the individual requirements of a potential client. To do this, just enter the parameters in the appropriate fields, and the program will automatically display the result.

The desire to save half the cost due to reducing the insurance period by half is not feasible.

A CASCO policy for six months will cost only 30-40% less than the standard program. It is not profitable for an insurance company to apply reducing factors, benefits, etc. in the short term.

But there is still an opportunity to reduce the contract price:

1. The higher the driving experience, the lower the cost of the policy.
2. You can limit the list of third parties allowed to drive the vehicle.
3. Installing an anti-theft system will also reduce car insurance costs, because... the risk of theft becomes significantly lower.
4. If there were no insurance payments for previous periods, the insurance company may provide a discount, but at its discretion.

The final cost of CASCO insurance for six months will be individual in each specific case, depending on the selected insurance company and the conditions of its program.

Which insurance companies offer

Policyholders who are interested in purchasing a six-month policy should first know the companies they can contact, their rates and insurance conditions.

The Russian market for these services these days offers an enormous number of program options and special offers.

Such measures are provided to expand our own customer base. Conditions and tariffs in companies change regularly, almost every year, because they depend on legislation.

Let's consider offers from leading Russian insurers who provide comprehensive car insurance for 6 months.

For example, let’s take a vehicle from Mercedes-Benz, it was produced in 2014, the driver’s age is 40 years, and his driving experience is 8 years. Also, the insurance will be closed for one person, without DSAGO.

Under these conditions, companies will sell a six-month policy at the following cost:

Note that we additionally took into account the presence of an anti-theft system, which insurers always pay attention to and take into account when making calculations, as well as a 2-3 percent deductible and the fact that the vehicle is on the credit balance of a bank or car dealership.

You can purchase a comprehensive car insurance policy not only from banks and specialized companies, but also from private brokers.

You should remember about security measures and be vigilant when choosing an insurer, turn to experts.

The ECAR will help protect every driver from fraud, providing complete information about all policyholders in our country.

Information about insurance companies is regularly updated, which allows you to learn about their new programs, offers and tariffs.

Is it possible to get insurance for a car loan?

Car insurance is mandatory when purchasing on credit. This obligation is imposed on the new owner until the debt obligations are repaid. Most often, a car insurance contract is concluded for a year, but if necessary (for example, when paying off the balance of a debt or limited funds after a purchase), banks make concessions and allow you to issue a policy for six months. You should find out about the possibility of such a design in advance, especially if the owner is driven only by the desire to save money.

Registration of a standard package will ultimately cost less, especially when concluding a long-term loan agreement.

Where to apply for short-term CASCO insurance

On the car insurance market, a motorist can find profitable offers that involve a short policy period. Thus, CASCO for 1-3 months can be easily obtained from Intach. Semi-annual programs are offered by insurance companies and Rosgosstrakh - you can independently familiarize yourself with the ratings of insurance companies for CASCO and choose the appropriate offer.

When choosing an insurance company, the motorist must take into account the benefits of the conditions for providing the document and the reliability of the organization. Small companies sometimes offer to issue a policy on the client’s terms, but it can be very difficult to obtain compensation from such companies.

How to extend six-month CASCO insurance

At the end of the insurance period, it is not necessary to go through the entire registration procedure again. The renewal can be completed through the official website of the insurance company with which the contract has been concluded.

To do this, you need to enter the necessary data and send an application to extend the policy for approval. If the company’s decision is positive, the employee contacts the client and discusses a meeting time to issue supporting documents. The issue of payment transfer is also being resolved.

If you wish, you can contact the insurance office directly; the repeated procedure will not take as much time as at the initial stage of concluding the contract.

Features of termination of the agreement

The process of terminating the contract is regulated by the legislation of the Russian Federation, therefore the reasons why it is possible to terminate the agreement are limited:

1. Complete destruction of the vehicle or its wear and tear for reasons not specified in the contract;
2. Change of owner due to the alienation of a car. If the issue is resolved amicably, the former owner may demand reimbursement of part of the funds for the remaining period of the policy. But the insurance company will require a supporting document (sale agreement, donation agreement, etc.).
3. Death of the policyholder. In this case, the policy terminates automatically. But the heirs of the vehicle have the right to receive the remainder of the insurance funds or re-register it in their name (when re-registering the car in their name).
4. Termination of the functioning of the insurance company (bankruptcy, expiration of the license). Revocation of a license is usually carried out if certain prescribed conditions are not met. In this situation, the insurance company does not have the right to enter into new contracts and must reimburse clients for the unused period of insurance.
5. Early repayment of debt obligations. The most problematic situation, because it is not regulated by law. Upon termination of the contract, both parties must pay off the amount of insurance debt (in the case of partial payment, the car owner remains the debtor; in case of full payment, the insurance company remains the debtor).

In exceptional cases, termination of the agreement is possible by agreement of the parties due to objective reasons. In other cases, if the company proposes to terminate the contract, this should be reflected in the appropriate clause of the agreement signed by both parties.

The main thing is that the reasons are justified and proven by the party wishing to terminate cooperation. Because if you bring a case to court, you need to form an evidence base to defend your position.

It is important for the consumer to return part of the remaining funds, but for the insurance company this is unprofitable, since some of the services have already been provided. Therefore, insurance companies compensate balances minus interest, which can reach from 10% to 40%. In accordance with the Civil Code of the Russian Federation, such actions of the company are legal. Payments already made for risks that have occurred are also taken into account when reimbursement is made.

It’s easy to get a CASCO policy for six months. SK provide such a program. The conditions do not differ significantly from the standard package, but do not allow the car owner to take advantage of a number of privileges provided by long-term insurance. An exception is specially developed insurance company projects to attract clients. The cost of insurance for six months will be cheaper not by 50%, but by 30-40%, for the same reason - reducing factors and benefits are not used. But in some situations (seasonal use of a vehicle), a six-month policy will be profitable.

How to calculate

In relation to annual CASCO insurance, six-month CASCO insurance is characterized by the fact that insurers can often significantly reduce the insurance premium rate. They do this not always in proportion to the reduction in the period for providing such a service.

When contracts are concluded for 6 months under a voluntary car insurance program, an unfavorable percentage of insurance payments is noticeable - from 60 to 70%, if taken from those insurances that are usually paid under CASCO for annual insurance.

However, this miscalculation lies only in simple ignorance of the intricacies and mechanisms by which all insurers work.

After all, when calculating the cost of a product for a voluntary type of auto insurance, they also use all kinds of coefficients, as they would use when calculating a compulsory type of auto insurance.

It is thanks to him that the price of such a policy is often not 50% cheaper, but 30-40%, depending on other criteria by which the cost of the product is determined.

All calculations for semi-annual car insurance are made on an individual basis for the reason that the program is recognized by insurers as individual.

After all, we have to find out the reason why a person buys such a policy for only 6 months. At the same time, confidentiality is fully respected by law (Law No. 152-FZ of July 27, 2006).

Any independent calculation can only be preliminary and carried out through online services on company websites, where calculators or online policy designers are provided for this.