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.
A situation where you don’t need a broken car.
According to paragraph 5 of Article 10 of the Law “On the Organization of Insurance Business in the Russian Federation”: In the event of loss or destruction of the insured property, the policyholder, the beneficiary has the right to waive his rights to it in favor of the insurer in order to receive from him an insurance payment (insurance compensation) in the amount of full insurance amount.
No deductions for any wear and tear. That is, if you write a regular statement, the insurer is obliged by law to pay you the full insured amount. Only one thing follows from this - you have the right to receive the full insurance amount specified in the insurance contract (policy).
It is best to submit such an application to the insurer in person. Request a note on the copy of the application indicating that the insurer, represented by a company employee, received the application on a certain day.
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.
Nuances of applying for CASCO insurance against theft
When concluding a CASCO contract against theft , you should pay attention to the following points:
- Concepts such as “theft” and “hijacking,” which seem to have the same meaning, can be interpreted differently by insurers.
- In addition, it is worth checking whether the contract specifies the time during which you are required to report the occurrence of an insured event.
- And also whether all drivers are included in the list of persons allowed to drive.
As a result, by concluding a CASCO agreement, you protect your financial interests and the car from many risk situations, in the event of which you are guaranteed to receive compensation for the damage caused.
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
Total loss of the car: what does it mean?
Visitors to our portal are often interested in car theft and total loss insurance. Total loss insurance does not exist as a risk. The car itself is insured against various risks that we discussed above.
If the amount of damage upon the occurrence of an insured event exceeds 50-75% (the percentage varies depending on the insurance company) of the insured amount specified in the policy, then it is considered that it is not economically feasible to restore the car, and it is recognized as constructively lost, completely lost or total (according to the terminology of insurance companies).
In a situation with total loss, as with theft of a car, the full insured amount is subject to payment without any deductions. Very often, insurance companies like to deduct the wear and tear of the car from the payment for theft and total loss. This contradicts the Law “On the Organization of Insurance Business in the Russian Federation”. According to paragraph 5 of Article 10 of this Law, the insurance company is obliged to pay you the entire insured amount in the event of theft or total constructive loss.
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.
| Insurance Company | Damage percentage for total | Wear and tear accounting | Useful leftovers | Payment deadline (after providing all necessary documents) |
| Ingosstrakh | 75% | Taken into account (It is possible to purchase additional GAP) | Remain in the UK | 15 working days |
| Tinkoff | 65% | 0.05% per day for vehicles up to 1 year; 0.025% per day for vehicles from 1 year and older (It is possible to purchase additional GAP) | Your choice: You can leave it at the IC or pick it up | In case of theft and damage 2-3 weeks (maximum period 30 days) |
| VSK | 75% | Taken into account (It is possible to purchase additional GAP) | Remain in the UK | For complete death it takes 2-3 weeks. For theft after the case was closed. |
| Gyde | 75% | Taken into account (It is possible to purchase additional GAP) | Your choice | For complete loss, the payment period is up to 30 days. For theft after the case was closed. After the closure order is issued, the payment period is 2 months. |
| Agreement | 70% | It is taken into account. It is not taken into account if you leave usable remains in the insurance company. (It is possible to purchase additional GAP) | Your choice | For theft, payment is made within 45 working days, the Investigative Committee is provided with a coupon notification of the appeal and a copy of the resolution to initiate a criminal case. Upon complete loss, payment within 45 days |
| Liberty | 75% | For complete loss, the 1st year of operation is taken into account - 17.5%, 2 - 14.4%, 3 and subsequent - 12%. Theft is taken into account. (It is possible to purchase additional GAP) | 2 options to choose from: remain in the insurance company for sale, their cost is deducted from the sum insured, or the client sells the valid balances independently and pays the agreed amount to the insurance company | For theft: After providing a copy of the resolution to initiate a criminal case within 15 days. For complete loss: 15 days |
| Reso-guarantee | 75% | It is taken into account. Add. Agreement. The amounts are specified in the policy. (It is possible to purchase additional GAP) | 2 options to choose from | For theft: After providing a copy of the resolution to initiate a criminal case within 15 working days. For complete loss: 15 days |
| Ergo | 50% | Not taken into account | They remain with the insurance company and are sold at auction. | In case of complete loss, the maximum period is 45 working days to make a decision. In case of theft, 30 days to consider the insurance claim. Payment within 10 working days. |
| Alpha insurance | 75% | Not taken into account | Stay with SK | For theft: After providing a copy of the decision to initiate a criminal case within 15 days. For complete loss: 15 days. |
| Zetta | 70% | Taken into account | Optionally, if the client picks it up, then their cost is deducted | For theft: payment within 20 days after the certificate of closure of the criminal case. For complete loss: payment within 20 working days. |
| Nasko | 75% | It is taken into account. Up to 1 year, the TC on the date of the insured event is 0.05% for each day the insurance contract is valid. From a year and more than 0.04% for each day. | Two options | Payment within 15 working days. |
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.
What is included in CASCO?
The CASCO calculation is very simple: the client pays a certain amount for the year and receives a guarantee from the insurance company that if an insured event occurs, the pre-agreed amount will be paid to the client in the form of compensation. When choosing an insurance company and the type of insurance policy, in order to calculate CASCO correctly, it is important to consider two important points.
Under a certain amount, you can choose to pay in cash, or in the form of repairs. In the second case, the car after repair must take on the same appearance and technical condition as before the accident. In this case, usually the insurance company itself provides a list of service stations where repairs can be performed. In the first case, it happens that the insurance amount is not enough for repairs, since the client and the insurance company understand the restoration of the car differently. This is what most disputes with insurance companies are related to.
The definition of insured events must be specified in the contract, as well as those exceptions that the insurance company does not consider insured events. If you choose cheap CASCO insurance, it is important to pay close attention to these clauses of the contract. It is quite possible that the very events that you would like to insure against fall under the category of “exceptions” under the insurance policy. For example, a car was parked at night in an unguarded parking lot. This may be a reason for refusing to pay compensation if the car is stolen or damaged.
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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.
Risk 2: theft or theft
In the event that the car is stolen, the CASCO policy will allow the policyholder to reimburse the insurance company for the cost of the car, taking into account its wear and tear. The CASCO theft policy is a popular product, but still much inferior in popularity to the damage policy. In fact, theft does not account for such a large part of the total number of road accidents. Cars are much more likely to be damaged. Many car owners, by inertia, believe that a CASCO agreement automatically insures the car against any risks, including theft. In fact, when drawing up a contract, the policyholder can, at his discretion, indicate the number of options that should be included in it. Any insurance company will offer CASCO insurance against damage, many offer damage + theft insurance, and some offer insurance only against theft.
How to buy CASCO profitably
Order Fill out the form or dictate the data required for calculation by phone
We will arrange We will select and calculate the best option for you
We will deliver Wait for the courier and pay in a convenient way
