Signing the CASCO Policy

CASCO is an optional insurance policy under which the insurance company compensates for almost any damage suffered by the insured vehicle. Since it is not legally mandatory, the decision to conclude a CASCO contract belongs to the vehicle owner, whether an individual or a legal entity.
For vehicles purchased through leasing, CASCO insurance is mandatory, and the policy price is paid by the user, while the insured party is the leasing company.

Since CASCO offers vary from one insurer to another, it is best to purchase such a policy through a broker who has the necessary expertise to analyze the risks that need coverage and quickly identify the best available products on the market.

Main Elements of the CASCO Policy

• Insured Sum – the value for which the vehicle is insured, based on the invoice price or a specialized catalog, adjusted by a depreciation coefficient.

• Deductible – the portion of the damage covered by the policyholder, which can be fixed or percentage-based, or vary by risk category.

• Insurance Premium – the cost of the policy, determined by: vehicle details, owner information, covered risks, and additional chosen clauses. The premium may be paid in full or in installments.

• Covered Risks – uncertain, possible, probable events that result in damage, clearly specified in the insurance policy.

The CASCO policy generally covers damages caused by the following events:

• damage to your own or another vehicle

• destruction of certain property

• injury to the driver or passengers in the vehicle

• injury to a pedestrian

• damage caused by impacts, collisions, scratches, overturning, falling objects

• damage caused by storm, flooding, earthquake, hail, heavy rain, landslide, avalanche, fire, explosion, smoke

• theft of the vehicle, its components, or damage from attempted theft

• damage to components while disassembled for repair or maintenance

• transport costs of the damaged vehicle to the nearest repair shop

• vandalism

• loss of keys

Depending on the selected options and your available budget, the CASCO policy may also include roadside assistance and/or a replacement vehicle during repairs.

Excluded Risks

Uninsurable risks, explicitly mentioned in the insurance policy.

Risk Inspection

Performed either by the broker or by the insurance company’s representative. Any pre-existing damages must be noted in the risk inspection report.