What is a franchise with CASCO? A franchise with Hull: reviews, conditions

Every motorist at least once in his life faced with the need to buy a policy for a vehicle (TC). But it is one thing to execute CTP, that is, to insure the harm done to property and health of third parties. Such policies are most often purchased for the period of technical inspection and do not delve into the nuances of the contract. And quite another - to acquire CASCO. The size of the premium is large, the number of risks is huge, so the insurer also offers a franchise. Briefly, the essence of this term sounds like this: in the case of an accident, the customer still has to spend money on restoring the car. But how much and on what terms, this is another question. More details about what a franchise is at KASKO, what are the features of its formation, read on.

Basic concepts

CASCO - car insurance against theft, theft or damage caused by third parties. That's why banks require it when you make a car loan. In the transaction, the vehicle itself is insured regardless of who caused the damage.

When writing out a policy, the insurance agent will necessarily propose to issue a franchise, telling about all the advantages of the transaction and, of course, about the discount that the client will receive. But the decrease in the initial cost can come out later in the future. A deductible is a sum of money that will not be paid to the client in the event of an insured event. It can be expressed in% of the amount under the contract or in monetary units. Its size is fixed in advance in the contract. That is, it can not be attributed to unforeseen costs. That's what a franchise with CASCO in a simplified form.

Options

Non- deductible deductible in CASCO insurance means that all payments that exceed its size will be fully compensated by the insurance company (CK). But if the amount of expenses for the restoration of the car will be small, the client will have to compensate for the damage independently. Therefore, this franchise is called "conditional".

Example

The size of the franchise is 5 thousand rubles. If the damage is estimated at 4.5 thousand rubles, then the customer will have to pay this money on his own. But if the restoration of the TS will require 7 thousand rubles, then the company will cover the losses in full.

The unconditional deductible in CASCO insurance is deducted from the compensation amount. That is, in any insurance case, the client will have to pay some of the costs out of his pocket. Under the conditions of the previous example, this means that if the damage is 7 thousand rubles, a person will receive only: 7 - 5 = 2 thousand rubles. But if the appraisal estimate is 4.5 thousand rubles, then all the costs the client will have to compensate for independently.

There are other types of franchises that are provided for a certain category of customers, but most often these two are used. The unconditional is more favorable, since in the case of the deductible, the amount of expenses can be artificially increased by the insured person.

Benefits

There is no unequivocal answer to the question of whether to purchase a policy with a franchise. Here much depends on the specific situation, driving experience of the driver, his financial capabilities. CASCO insurance with a franchise can be useful if:

• The client wants to save money on buying a policy. When you include any franchise in the contract, the transaction value will noticeably decrease. This especially applies to drivers without driving experience. In such cases, the UK uses higher coefficients in the calculations. The bigger the deductible, the cheaper the policy. At the same time, the client needs to be prepared for the fact that he will receive compensation from the company only if there are significant damages to the car. Minor scratches he will have to eliminate at his own expense.

• Man wants to save time. In the event of an insured event, the company must provide a whole package of documents: from a photocopy of the passport to certificates from the traffic police. Well, if these documents were issued immediately on the scene. But often customers have to go for documents for examination. If the amount of damage is small, then it makes sense to compensate for it yourself. So you can buy time and money.

• SK is also profitable to execute CASCO with a franchise. Feedback from employees confirm this. Regardless of the amount of damage, the bureaucratic procedure for processing compensation is always the same. But the costs can significantly exceed the amount of compensation. Therefore, agents are trying to sell policies with a franchise.

Who should buy a policy?

Having dealt with what is a franchise under CASCO, we turn to the question of who should conclude such a contract. So, the potential buyer should meet several parameters:

1. Presence of free cash. Insignificant damages to the client will have to be compensated independently. But the insured event may not occur. Then the savings on buying a policy will be justified.
2. Long-term experience of trouble-free driving. If a person qualitatively manages the vehicle and feels like a fish in the water, the franchise at CASCO will help to save the budget and at the same time keep a sense of security, as the car will be protected from theft or complete destruction.
3. The desire to formalize the policy for only one type of risk. Full CASCO includes protection against damage and theft. But if a person is confident in their driving skills and little scratches will not pay attention, then it is worth buying a policy with a large franchise (7%) for the risk of "Damage". "Hijacking" is rarely offered to customers separately. Most often it comes bundled with other services. But if the customer is served in the company for a long period, a large franchise with CASCO can become a profitable acquisition.

Exceptions to the rules

According to statistics, inexperienced drivers are more likely to get into accidents and turn to the company for compensation. For them, saving on the policy turns out to be a significant cost to restore the car. It is better to buy insurance immediately with higher coefficients. The same applies to drivers who received the right after 40 years.

Recommendations

So who benefits from the unconditional deductible for CASCO? Experienced drivers who are not obsessed with small scratches and are ready to compensate for them at their own expense. Such customers should buy a policy with a franchise within 0.5-2% of the cost of cars.

Drivers with long experience of accident-free driving can conclude a contract, which will only compensate for the large costs of rebuilding the vehicle. Typically, they provide for a deductible of 7%.

Beginners should forget about such a concept as a "franchise in CASCO", which means - to buy immediately a policy with increased coefficients. Although you will not be able to save money, the psychological factor will still work: the driver will be more cautious in exploiting the vehicle.

Nuance

Get a refund in full yet you can, even if the customer issued a CASCO with a franchise. Feedback from drivers on the forums is confirmed. But this trick will be possible only if the culprit of the accident is not you. In Russia there are two types of policies - OSAGO and CASCO. The first compensates for the damage done to third parties, and the second - the vehicle of the insured. So you can get a part of the refund within the franchise under the MTPL policy of the culprit of the accident. But in this case it is necessary to collect a full package of documents, which is necessary for registration of an insurance event. If part of the cost is compensated for by CASCO, and the documents have already been transferred to the "native" UK, then the traffic police officers can request copies of certificates. The most important thing is to formalize the procedure until the claims of the UK, which issued CASCO, to the insurer of the culprit. Otherwise, the compensation will be reduced by the amount of wear of the parts.

Auto Loan

By providing loans for the purchase of the vehicle, the bank may require additional guarantees from the client. In this case it will be CASCO. When purchasing new cars, registration of this service is a prerequisite for the transaction. Banks rarely contract without insurance. Most often this happens during promotions.

When buying a car with a run CASCO can not be issued. Some banks agree to such a scheme, but at the same time they overestimate the rates. A lending institution is interested in repaying funds under any circumstances. But if the car was stolen, and there is no insurance, then the customer will have to compensate for the costs, however, as well as repairing the car after an accident.

Solution

Drivers are advised in this case to insure the car for a year (if the bank allows it) and experimentally determine whether you need a policy at all. If there is no such possibility, then it is necessary to act according to the standard program. Experienced drivers can purchase CASCO with a franchise with a car loan, which will insure only the hijacking or complete destruction. The rest is to buy a policy with a small amount of discount.

Reduce the cost of the policy can be in other ways:

• Reduce the repayment period from 5 to 2 years.
• Having insured the car only for the amount of the body of the loan, without taking into account the advance payment. Then the return of the franchise for CASCO will be paid in a similar proportion:

(Payment - deductible) * (Initial cost of car is advance payment) / 100.

Processing of compensation

Most of the negative feedback about companies is related to a misunderstanding of the essence of all procedures and concepts, in particular, what is a franchise under CASCO. But if you carefully read the contract and understand the details of the transaction before signing the securities, then problems can be avoided. Let's consider it on an example of procedure of registration of payment.

Compensation can be reduced by such deductions: franchise, depreciation. All of them are formed according to the terms of the contract. By signing the papers, the client gives his consent and confirms that he is acquainted with the details of the transaction.

Example

The person insured the vehicle for the amount of 500 thousand rubles. The contract prescribes a deductible deductible of 1.5% in the case of an accident. The amount of loss: 50 thousand rubles. The first thing that will be adjusted is the amount of payment - the deductible:

50,000 * (1-0,015) = 49,250 rubles.

Next comes the wear and tear on the car. Of the cost of spare parts that can not be restored, the amount of depreciation of the vehicle is deducted. The longer a car is used, the greater the percentage of these costs.

Reconciliation of the cost of repairs with the SRT - this item is clearly regulated by the contract. If it states that the STR is chosen by the Insured, the amount of compensation will be agreed by the company representative and the maintenance station. But in this case the client can not be sure of the quality of the services provided to him. Therefore, at the stage of signing the documents, it is necessary to make sure that the phrase "SRT under the guarantee" is included in the contract.

Conclusion

The deductible is the amount of costs that, if an insured event occurs, will not be compensated by the UK. The presence of this element in the contract reduces the initial cost of the policy. But for inexperienced drivers, this savings can then turn sideways. People who feel insecure at the wheel most often fall into accidents. Experts advise such customers to purchase immediately a policy with increased coefficients and terrorize the insurance for every scratch. A franchise can save money only for experienced drivers.