How much does CASCO cost for a car and how is its cost calculated

Unlike OSAGO - compulsory liability insurance, CASCO - is a type of voluntary auto insurance of property. Having a CASCO policy in hand, in the event of an accident due to your fault, you will receive monetary compensation for the repair of your damaged car, while under OSAGO the insurance company will pay for the damage you caused to the injured party instead of you.

The main insured events under CASCO:

• theft of a car or its parts;
• accident damage;
• reimbursement of expenses for restoring the health of the driver and passengers after an accident;
• damage as a result of force majeure, falling icicles, trees, damage committed by third parties as a result of their illegal activities.

The calculation of the cost of a CASCO policy depends on many factors, the main of which are:

• make and model of the car, year of manufacture;
• region of residence;
• age, gender and driving experience;
• car cost.

The cost of the policy varies in different insurance companies. Roughly speaking, a full CASCO policy (that is, compensation for damage as a result of an accident, theft or natural disasters) will cost at least 4% of the cost of the car.

Let's take this situation:

Girl, 25-30 years old, owner of a 5 BMW X2012, bought a car from an authorized dealer for 3,5 million rubles. An insurance policy that includes all risks will cost 650-700 thousand rubles!!! But this is in famous companies. If you try, you can find amounts even lower - 200-400 thousand rubles. And for targeted programs, you can reach lower amounts.

What influenced such a high cost: age, small driving experience, high cost of the car. As a result, we reach 6-15% of the cost of the car.

If we take a more realistic picture for the majority of the population, for example, a 2013 Lada Priora, bought for 450 thousand rubles. Driving experience of the driver - 20 years, age - 40 years, the car is in a guarded parking lot, there is an ordinary alarm system. We insert the data into the online calculator and get a price range from 80 thousand without a franchise to 20 thousand rubles with a franchise of 20 thousand.

Thus, depending on the company and insurance conditions, the CASCO policy will cost from 16 to 4 percent of the car price.

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