In addition to the compulsory civil liability insurance contract for owners of motor vehicles OCTA, an owner of a motor vehicle can also purchase a voluntary insurance contract for owners of motor vehicles CASCO, which will protect the owner of the vehicle against material losses in the event of its damage, destruction or theft. CASCO provides the payment of an indemnity for the insured vehicle, which has been involved in a road accident due to the fault of the vehicle’s driver or in an event not linked to a road accident, e.g., for any damage caused to the motor vehicle as a result of an unlawful activity of third persons.
The object of the CASCO insurance may also be
- Agricultural vehicles;
Provided that the terms and conditions of the pre-contract stage regarding the vehicle’s technical and visual condition set by the insurance company are met, and the security systems of the vehicle are operational, the following standard insurance risks are covered by the CASCO insurance contract:
- Damage to a vehicle;
- Theft of a vehicle and robbery;
- Loss of a vehicle;
- Damage caused by third persons, who have acted unlawfully;
- Damage caused by natural disasters
In addition to the standard insurance risks, depending on the conditions and options offered by an insurance company, your insurance contract may also include (if it is already not included in the terms and conditions) any of the following risks:
- Replacement – a replacement vehicle is provided, in case of an insurance event, for the period the insured vehicle remains in the car repair shop.
- Roadside assistance – in the event of your vehicle’s breakdown, you will be provided with technical assistance, advice in the event of a road accident, the delivery of petrol in the event of running out of petrol, advice on filling in an Accident Statement, etc.
- Personal accident insurance - the insurance of a driver and passengers of the vehicle against accident.
- Glass insurance without deductible – the replacement of glass without deductible, if it is replaced by the insurer’s approved repair shop and it is the only damage sustained. Depending on the insurance company, the glass cover may include windscreens, all salon glass, lamps, mirror glass.
- Number plate insurance – it covers the loss, theft of number plates.
- Hydrolock – it covers the damage caused to the engine space by water, when the vehicle drives into a puddle.
Other additional risks and terms and conditions
- Deductible – it is a constant amount or a percentage of the amount of loss stipulated in the insurance contract, which is paid by the insured person in the case of an insurance event.
- Damage deductible – it is usually expressed as a constant amount, e.g. EUR 140. In the case of an insurance event and when the indemnity payment is provided, the indemnity is reduced by the deductible amount, which is specified in the insurance contract (e.g., the indemnity calculated for a road accident is EUR 1000 – the deductible amount is EUR 140. The indemnity amount transferred to the repair shop for the repair of the vehicle is EUR 860.
- There is an option of entering into a CASCO contract without deductible, providing the payment in full. However, there are some limitations regarding this deductible, e.g., the indemnity without deductible is paid out in the case of the first or first two insurance events. For every subsequent event there is already a constant amount stipulated in the contract.
- Destruction, theft and robbery deductible – it is usually expressed as a percentage of the amount of loss. The destruction deductible is applied, if, in the case of an insurance event, the repairs of the insured vehicle are not economically justified. The destruction deductible depends on the vehicle’s type and use. For example, you must allow for a higher deductible due to their use for all sports, learning to drive vehicles and other vehicles of a similar use.
- Theft and robbery deductible is applied in the case of the theft or robbery from the insured vehicle. The theft deductible depends on the type of vehicle and the vehicle’s security systems. The owners of exclusive vehicles and those belonging to risk groups can expect a higher deductible.