What is CASCO? – description of the term that gives the CASCO insurance policy
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What is CASCO? – description of the term that gives the CASCO insurance policy

27.06.2022 /

By itself, the term "CASCO" does not mean anything. If you look in the dictionary, then from Spanish this word is translated as “helmet” or from Dutch “protection”. Unlike compulsory liability insurance “OSAGO”, “CASCO” is a voluntary insurance of any damage that you may incur as a result of an insured event.

What is CASCO? – description of the term that gives the CASCO insurance policy

The CASCO policy assumes compensation for any losses as a result of damage or theft of your vehicle. Here is a list of insured events for which you can receive monetary compensation:

  • a traffic accident involving your car, CTP will compensate for the loss that you inflict on the injured party (if you are the culprit of the accident), CASCO will pay you the costs of repairing your vehicle;
  • theft or theft of your vehicle;
  • theft of individual parts of your car: tires, battery, spare parts, car radio, etc.;
  • illegal actions of unauthorized persons, as a result of which your vehicle was damaged;
  • compensation for damage resulting from natural disasters;
  • falling on your car of various objects: icicles, trees, etc.

Unlike OSAGO, the cost of a CASCO policy is not fixed, each insurance company offers you its own conditions, and the price will fluctuate depending on various coefficients:

  • the cost of the car, its characteristics - power, engine size, age;
  • insured events after which you receive compensation.

What is CASCO? – description of the term that gives the CASCO insurance policy

You will only be able to receive the maximum amount of payments from the insurance company if it is proved that your vehicle is beyond repair.

Any citizen of the Russian Federation who has reached the age of 18 and is the full owner of the vehicle or uses it under a lease agreement or a general power of attorney can issue a CASCO policy. The following vehicles can be insured:

  • registered with the traffic police in accordance with all the rules;
  • not having mechanical damage;
  • not older than 10 years, some companies insure only cars manufactured after 1998;
  • equipped with anti-theft systems.

If you transport goods on your passenger car for a fee or use it for driving lessons, then additional coefficients will be added to you and the policy will cost more. Any insurance company offers its own calculators for calculating the cost of "CASCO".




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