CASCO online calculator 2021 - calculating the cost of the policy

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.

What is needed to receive payment

A motorcyclist can calculate the approximate amount of compensation under CASCO for a damaged, stolen or destroyed chopper using an online calculator on the website of a broker or company.

To receive compensation in the event of an insured event, the vehicle owner must perform the following actions:

1. In the event of an accident, take measures to provide assistance to the victims, record the accident without creating interference for other road users.
2. Correctly document the events at the scene. If there is evidence of a crime, call law enforcement officials.
3. Inform the insurer about the circumstances that occurred and their consequences.
4. Collect a package of documents necessary to obtain a complete picture of the insured event.
5. No later than 5 days from the date of the incident, submit an application to the Investigative Committee and present the vehicle or its remains for inspection.
6. Wait for the results of the examination. Receive payment or referral for repairs.

The following documents are submitted to the insurance company:

• application (sample);
• CASCO policy;
• contract;
• receipt of payment under the agreement;
• identification;
• vehicle registration certificate;
• documents from the scene of the event (protocols, acts, surveys);
• a statement of theft and a resolution to initiate a case.

If there are no complications with the documents and circumstances of the incident, then compensation for damage is carried out within 20 days from the date of application. This can be done in cash or by carrying out repairs at a service station.

Important! The contract on the part of the insurance company is considered completed if the vehicle owner has received payments confirmed by paper or electronic receipts, the motorcycle has been repaired, and the owner has no claims, as evidenced by his signature on the work completion certificate.

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.

What does the cost of CASCO depend on?

The main factor influencing the cost of insurance is its type. CASCO happens:

• complete (covers the amount of any losses);
• partial (damage from a specific type of damage is compensated).

The final cost of insurance depends on the selected risks. When determining the price of a CASCO policy, the following are taken into account :

• basic tariffs;
• the policyholder's age and gender;
• driving experience;
• region of registration and operation of the vehicle;
• availability of franchise, etc.

Each insurance company develops its own CASCO programs. Most of them apply a coefficient that increases the cost of the policy for people under 22 and over 65 years of age. According to statistics, accidents most often occur with drivers of these age groups. Women are included in the risk category that increases the cost of CASCO insurance .

Important. The basic coefficient, when calculating the price of the policy, is provided to drivers aged 22-65 years with more than 3 years of accident-free driving experience.

The maximum increase in price applies to insurance without restrictions. Careful drivers can reduce the cost of CASCO insurance due to bonus malus. With an accident-free driving record of 10 years, its amount can be 50%.

The price of standard insurance in various insurance companies ranges from 4 to 12% of the market value of the car. The highest percentage is set for the most frequently stolen vehicles.

Insurance companies provide discounts to policyholders if they register several cars with them at once. A lower price is set for insurance of vehicles equipped with an alarm or having garage storage.

Some insurance agents increase the cost of a CASCO policy for cars purchased at car dealerships that are not included in the list of those recommended by them.

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.).

What documents are needed to calculate and purchase a CASCO policy?

When filling out an application using an online calculator, a standard list of documents is usually required to calculate the cost of the policy:

1. Passport.
2. Driver's license of the car owner and other drivers who will drive the vehicle.
3. PTS (vehicle passport).
4. The application form for CASCO established by the insurance company (when completed on our online calculator, the application is generated immediately for all insurance companies).

Thus, the advantage of calculating and issuing a CASCO policy using our online calculator is obvious. In addition to additional discounts, by filling out all the fields of the form only once, you will receive a quote for all companies at once and will be able to buy a CASCO policy at the best price for you.

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 to properly apply for CASCO insurance for a motorcycle

The CASCO insurance policy calculator for a motorcycle for 2019-2020 allows you to calculate the estimated cost only technically. There are also subjective factors based on the reluctance of companies to get involved with this category of vehicles. Therefore, you need to come to the office in person and be prepared for complex and lengthy negotiations, concessions and compromises.

If everything goes well, then an agreement is drawn up with the following content:

1. Parties to the agreement.
2. Object of protection (make, model, license plate number).
3. List of risks.
4. Insurance premium amount.
5. Payment amount.
6. Franchise size.
7. Contract time. The period for which the payment guarantee applies.
8. Rights and obligations of the parties.
9. Other conditions.

Related article: Euro protocol on CASCO

Note! The insurer may impose a condition to install a modern alarm system on the bike, a tracking satellite navigator, and buy a VHI policy. You should agree, because otherwise achieving your goal will be problematic or impossible. You just need to compare how much CASCO costs for a motorcycle, the cost of additional options and the price of the vehicle.

What documents are needed

To conclude an agreement and obtain a CASCO policy, the motorcyclist must provide the agent with the following package of documents:

• identification;
• technical certificate;
• registration certificate;
• certificate of ownership;
• purchase agreement, gift agreement, will;
• previously purchased policy (if any);
• MTPL agreement (current);
• documents for alarm, anti-theft system and other certificates;
• driver's licenses of persons who will be allowed to drive;
• statement.

After checking the provided papers, a company representative inspects the vehicle and draws up a report indicating the estimated cost of the equipment.

Important! The policyholder must provide only reliable information. Forgery of documents and deception of the insurer are grounds for cancellation of the contract and refusal to pay.

How to write an application

There is no universal and legalized application form. To obtain CASCO insurance for a motorcycle, such large companies as Ingosstrakh, Rosgosstrakh, Soglasie, RESO have developed their own forms, which are filled out directly in the office.

There are mandatory items that are prescribed in the application

• to whom (if the form does not indicate the name of the insurance company and its head);
• from whom (full name, postal address, telephone numbers);
• information about the vehicle (make, model, production date, license plate number);
• cost of the motorcycle upon purchase;
• the presence of an alarm and anti-theft system;
• insurance period;
• date of entry into force of the agreement;
• insurance risks;
• regions of use of the bike;
• method of receiving compensation;
• list of persons admitted to management;
• franchise size;
• Additional Information;
• list of applications;
• date, signature, surname.

In most cases, consideration of an application is a purely formality if the details of cooperation have been previously agreed upon with the agent.

Related article: CASCO insurance policy in Russia and its conditions

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.

The procedure for setting tariffs for CASCO insurance

The high cost of a CASCO policy is explained by the ability to insure an almost complete list of risks of damage or loss of a vehicle. Tariffs for CASCO policies do not differ much from different insurance companies, but for the average driver they represent an impressive amount.

Unlike the conditions of the MTPL auto insurance program, the state does not participate in the formation of CASCO tariffs due to the voluntary nature of this type of insurance. Insurers themselves have the right to set tariffs, using price parameters as an additional way to attract new clients.

When determining the cost of car insurance, insurance companies can focus on the following factors:

• the demand for this type of insurance among clients;
• rates of competing insurance companies.

CASCO tariffs change almost every year, and certainly upward. However, the ability of insurance companies to independently regulate tariffs under the contract gives policyholders the right to choose the most optimal services.

Cost of CASCO policy in 2021 by car model

We noted above that the car model is an important, but far from the only factor that affects the price of a CASCO policy. The cost of insurance also depends on the driver himself and on how carefully he follows traffic rules and the requirements of the insurance company.

However, if we take the average values ​​for the insurance market, then the cost of CASCO for a particular car model in 2021 is determined as a certain percentage of the cost of a new car.

The approximate average percentage of the cost of a new car, which is included in the CASCO price, is given in the following table:

How to save on a policy when buying a credit car?

In order to save money, CASCO is issued not for the full cost of the car, but for the loan amount. The insurer may also offer to increase the franchise or buy a cheap CASCO policy for the bank as part of the promotion.

All this will reduce the cost of paying for the policy, but usually savings rarely exceed 5-10%. Let's look at the most typical ways to save on CASCO insurance.

Franchise agreement

Deductible is the amount of loss not paid by the insurer.
The higher the deductible, the cheaper the insurance.

Typically, the deductible is more than 5% for theft and 1% for other risks; you cannot choose a collateral car when insuring CASCO.

But if the bank allows this, the cost of the policy can be significantly reduced when compared with a zero deductible.

Risk of theft

You can also buy a CASCO policy against theft only and try to convince the bank that this is enough to insure the collateral.

The chances are most likely zero, because the main risk for a car owner, according to statistics, is still an accident, and not theft or theft of a car.

Such issues are resolved on an individual basis. If the borrower has a very large down payment on the loan, then it is quite possible that the bank will agree to such insurance conditions, which will naturally reduce the rate.

But finding an insurer willing to insure exclusively against theft is also difficult . Basically, this risk comes along with others, due to frequent cases of simulated kidnapping, that is, insurance fraud.

Reducing the amount of coverage

The car is insured for its market value and most often without taking into account wear and tear of parts, but in order to save money, you can reduce the limit to the loan amount.

This will also reduce the cost of CASCO insurance quite significantly. For example, if a car cost 600 thousand rubles, and a loan was taken out for 300 thousand rubles, then the minimum cost of the policy will no longer be 30 thousand rubles per year, but only 15 thousand rubles.

Refusal of additional services

We have already found out that the main CASCO risks must be included in the collateral car insurance .
But in addition to them, you can reduce additional options that also affect the price.

For example, refuse technical assistance, emergency dispatch to the scene of an accident, evacuation of a damaged car, payment without accident certificates for minor damage, and much more.

Participation in the promotion

Sometimes insurance companies participate in a joint promotion between a bank and a dealership. In this case, the cost of the policy may be noticeably lower than with a regular purchase.

It is worth checking about the availability of such promotions in the salon or bank. If you're lucky, you'll be able to save some money. Before signing an insurance contract, it is worth comparing CASCO prices from other insurers so that the promotion does not turn out to be an ordinary advertising ploy.

By the way, CASCO for interest-free or preferential car loans sometimes turns out to be even more expensive than for regular lending.

Banks successfully compensate for the discount on loans by the high cost of related services if the main insurers are companies affiliated with them.

Buy at a discount and other options

Insurers often also offer discounts to their regular customers for driving without loss or submitting an application for insurance electronically (on the website).

If the client already has another policy (for example, apartment insurance), then there is also a chance to receive a discount of 3-10%.

How does the price of CASCO depend on its type?

The cost of the insurance policy directly depends on what type of CASCO you have chosen for your car:

1. Full CASCO or no restrictions . Provides the opportunity to insure a car for all occasions, namely:

• from theft
• in case of an accident
• when capsizing
• from explosions
• from fire
• if heavy objects fall on the car
• from natural disasters and emergencies

2. Partial or incomplete CASCO - including several selected insurance events, in the event of which the car owner will receive compensation from the insurance company. The most common practice is to insure against theft and damage caused during an accident, since these are the most likely situations that can happen to a car.

3. Aggregate CASCO - implies that the amount of compensation you will receive from the company will decrease after each new insurance payment, according to the contract.

4. Non-aggregate CASCO - with such an insurance contract, you will receive stable payments specified in the contract, and their value will not depend on the number of accidents that occurred previously.