- Is it necessary to apply for compulsory motor liability insurance if you have CASCO insurance?
- Differences between OSAGO and CASCO
- Where to issue policies
- In custody
Many drivers wonder why they need to take out MTPL if they have CASCO insurance. Most often, this dilemma arises when buying a new car on credit. The fact is that most banks oblige citizens applying for a loan to enter into a CASCO agreement.
The article will discuss whether it is possible to do without purchasing compulsory motor liability insurance in the case of a car loan and the purchase of a new car. We will also describe the differences between the programs and the rules for purchasing insurance.
Distinctive features of insurance
Before answering the question: “Is compulsory motor insurance necessary if you have CASCO?”, you need to know and understand how these two insurance policies differ.
And they differ in the following:
- Grounds for receiving payments;
- Amount of payments;
- Object of insurance.
In addition, both insurance policies provide payment to different persons.
OSAGO is an insurance policy that provides protection to the driver over other car owners. This insurance contract directly protects the liability of the driver, but not the vehicle. If an accident occurs, the victim will be paid appropriate damages, but the person responsible for the accident will not receive any compensation from the insurance company.
CASCO is an insurance policy that covers all expenses in the event of an accident. That is, if an accident occurs, the insurance company will fully cover all damage caused, regardless of which party the client is - the guilty or the injured.
IMPORTANT !!! OSAGO and CASCO differ, of course, in price. For example, when applying for compulsory motor liability insurance, an insurance client can be absolutely sure that the cost in different companies will be the same, as this is provided by law. But at the same time, he understands that the price directly depends on factors such as length of service, age of the car, region of residence, etc.
But in a situation with CASCO, the driver cannot be sure of the cost of insurance, since the state does not regulate the price of such a contract in any way. The insurance amount is set directly by the insurance companies themselves, and very often its price is a certain percentage of how much a new car costs, and this is, in any case, expensive.
One of the main differences between insurance policies is that CASCO can be issued voluntarily, while OSAGO must be issued mandatory.
Causes
Today, the basis for payment under CASCO is the situation when specific damage received falls under the scope of a special insurance contract.
Today there is no single legislative norm regulating the provision of CASCO insurance and payment under such a policy. The main NAP that you should focus on when receiving payment is the insurance rules.
They must be provided simultaneously with the signing of the insurance agreement, in advance.
The main feature of compulsory motor liability insurance is the mandatory purchase of such a policy.
At the moment, all issues in any way related to this type of insurance are reflected in Federal Law No. 40-FZ of April 25, 2002 “On compulsory civil liability insurance of vehicle owners.”
Payments must be made within the framework of this NAP. Otherwise, problems may arise with the insurance company itself.
This document defines the limits on payments, as well as the timing of such payments. Before purchasing an insurance policy and applying for payments, the client must familiarize himself with the above-mentioned NAP.
This will allow you to independently monitor compliance with your rights and avoid various problems in the future.
The grounds for payments under MTPL and CASCO differ significantly. This point also needs to be worked out in advance.
Today, MTPL insurance is mandatory; in the absence of such a policy, a fine is imposed by a traffic police officer.
In turn, the CASCO policy is not mandatory; it can be purchased at will.
But if there is such an opportunity, you will need to purchase two policies at the same time - this will reduce to zero the very likelihood of any financial losses in the event of a traffic accident.
The types of CASCO for a credit car are described in the article: types of CASCO. How to check the CASCO policy for authenticity, see on the page.
Find out about the rating of insurance companies for CASCO from this information.
Is there a need to apply for compulsory motor liability insurance if you have CASCO insurance?
The answer to this question is simple - OSAGO must be issued in any case, even if there is CASCO insurance. This is explained by current legislation, which states that driving a car without compulsory motor liability insurance is prohibited. Even if the driver took out other types of insurance, none of them replace compulsory motor liability insurance. The thing is that only compulsory motor liability insurance can cover the damage caused by the culprit of the accident to the injured party, while CASCO compensates for the damage specifically to the vehicle.
IMPORTANT !!! If the driver does not have compulsory motor liability insurance, but has CASCO insurance, then he cannot and should not drive the car, since if the fact of the absence of compulsory motor liability insurance is revealed, fines may be imposed, and besides, in the event of an accident, the person responsible for the accident will have to take full responsibility for repairing the victim’s car sides.
Another question arises: “Is it necessary to apply for CASCO insurance if you already have MTPL?” Of course not, but it’s still worth considering purchasing two types of insurance. Comprehensive insurance (MTPL and CASCO) can help protect the car owner from many risks.
In addition, CASCO may become a prerequisite, for example, for a car loan. Most banks insist on issuing CASCO insurance and very often if the driver refuses to take out this policy, they refuse him a loan.
Advantages and disadvantages of OSAGO
Payment of damage to a motor vehicle is limited only by the liability limit. If the driver or his vehicle is injured, there will be no compensation for losses. If an accident occurs due to the owner’s fault, the victim will be reimbursed for repairs, which will help save a lot of money and avoid lengthy legal delays.
Among the undeniable advantages:
- payment for damages caused to another vehicle;
- price.
The negative aspects include the mandatory registration. If the OSAGO is missing, invalid or has expired, administrative liability is imposed on the driver. Its amount is 500-800 rubles for each detected case of driving without a vehicle license.
The MTPL policy is not valid when the owner’s car receives damage due to the fault of third parties . It will not cover your own expenses and will not be useful in case of accidents, damage to paintwork in parking lots or theft.
Where and how best to apply for compulsory motor liability insurance if you already have CASCO insurance
Regardless of what kind of insurance policy the driver is going to take out, he first needs to decide on the insurance company and provide it with the relevant documents. As a rule, you can buy both CASCO and MTPL from almost all insurance organizations. And some of the companies provide their clients with a discount when purchasing comprehensive insurance.
But if the selected insurance company does not provide the client with a discount on the comprehensive purchase of an insurance policy, then it is better to do OSAGO in another company, since this way you can save a lot of money.
But registering OSAGO and CASCO in one place is more profitable because in the event of an accident you do not have to contact two insurance companies at once, and this can help save time.
Is it possible to receive roadside assistance under the policy?
You can receive technical assistance on the road when applying for a comprehensive insurance policy only if you activate the additional “Technical Assistance” option. For this service, the following are considered insured events:
- Damage to the wheel, when it is impossible to continue driving . If such a situation occurs, the insurance company will pay for the technical assistance service, repair and replacement of the damaged wheel. If you don’t have a spare wheel, and the damaged one will have to be removed and taken to a tire shop. Tire fitting services are not reimbursed.
- There is no fuel in the car . If you run out of gas during a trip, the insurance company will pay for the technical assistance service and up to 5 liters of gasoline. The company can also tow the car to the nearest gas station.
- The car is faulty and needs to be towed. The insurance company will only reimburse the costs of towing the car to the nearest parking lot or repairs. You pay the cost of repairs yourself.
You can activate an additional service through your Tinkoff Insurance personal account.
The best insurance in case of an accident
If the driver has both CASCO AND MTPL, and he is involved in an accident, then a logical question arises: “Which insurance is better to use?”
In such a situation, some factors need to be taken into account, namely:
- On what terms were both agreements concluded?
- How serious is the accident;
- Under what circumstances did the accident occur?
- How quickly payments will be made.
So, for example, if the insurance client is not to blame for the accident, and the damage is less than 400 thousand rubles, then it is better to use OSAGO, since if you apply CASCO, then next year this insurance contract will cost much more.
Vehicle insurance is an important stage that every car owner has to go through. And if the driver wants to apply for CASCO insurance only, then he should know that it will not be possible to avoid issuing MTPL, and he should not do this. CASCO is the protection of the car owner himself, and OSAGO is the protection of other road users. Therefore, if you have CASCO insurance, you still need to apply for MTPL.
What is OSAGO?
The abbreviation “OSAGO” stands for “compulsory motor third party liability insurance”. When purchasing this policy, in the event of an accident, the amount of damage is paid not by the culprit, but by the insurer.
The objects of insurance are property interests associated with the risk of civil liability of a motorist for causing harm as a result of an accident on Russian roads to the injured party, namely:
- life;
- property;
- health.
These circumstances are recognized as insured events, and the insurer pays amounts for them. Thus, when purchasing a compulsory motor liability insurance policy, it is not the car that is insured, but the cash savings.
Let's celebrate! The injured party receives money, the guilty party pays nothing, unless both drivers are to blame for the accident. Then the amount of payments to each party depends on the degree of responsibility and the actual extent of the damage.
OSAGO calculator online
Price
The price of OSAGO depends directly on:
- vehicle power. Up to 150 l/s the rate is 0.9, over 150 l/s - 1.6, up to 50 l/s - 0.6;
- the region where the car is registered, the coefficient may be different;
- vehicle age, driving experience;
- the number of accidents, the accuracy of car owners is always welcomed and encouraged;
- the number of drivers enrolled in the policy.
Tariffs for this type of insurance are controlled by the state, so such insurance costs approximately the same in any company.
The cost of CASCO is calculated based on:
- base coefficient;
- vehicle age and wear;
- the age of the owner and his experience as a driver.
In addition, the CASCO price includes those options that the owner chooses. It can be:
- deductible (unpaid part of the damage, the higher it is, the lower the CASCO price will be);
- installment plan;
- coefficient for possible car theft;
- coefficient provided by the anti-theft system.
The price for CASCO is set differently by each company.
Characteristics of CASCO insurance
CASCO is extended vehicle insurance against various damages. You can receive compensation not only after an accident, but also if there were breakdowns or damage to the integrity of the car for other reasons.
Important! car owners can expect to receive compensation if the car is stolen or damaged in various ways, in which there was no accident. Additionally, you will receive a sum of money even in a situation where the owner of the car himself is the culprit of the accident. He may not provide the insurer with a certificate of the accident.
Important! CASCO is not a mandatory type of car insurance, therefore it is purchased by citizens only at their own request, and such insurance may also be a prerequisite if a car is purchased on a car loan.
What is CASCO? Photo: slideshare.net
The cost of such insurance depends entirely on what damage compensation clauses will be included in the contract. Compensation is usually chosen in the following situations:
- car theft;
- repair of any part of the vehicle, and the need for it may arise either as a result of an accident or for other reasons;
- evacuation from the scene of a traffic accident;
- restoration of a car after an accident, regardless of who is at fault.
Important! There are often cases when people turn to the insurance company to receive compensation after an accident in which they were at fault, but the company refuses to pay, but this is considered illegal, so the citizen has the right to go to court to influence the insurer.
The amount of compensation depends entirely on what kind of damage was caused to the car. To do this, the damage must be assessed, and the estimated value of the entire vehicle must be calculated.
