When youmake an insurance policy , you mus be carefull to the Chapter Exclusion for the insured to avoid in the future situation will not get any compensation even if the insurance paid for years. Insurance fee is calculated by applying the insured amount of the tariff quota expressed as a percentage. New car applies a percentage of 4-5% of the car, but can reach a rate of 11% for cars 10 years old, which means insurance premiums 400-600 euros / year or more than 1000 Euro / year for luxury cars.
Insurance only for new cars 12 years
It is good to know that not every car can be assured Casco. Most insurers offer comprehensive insurance for old cars with less than 10 years, only some of them reaching the limit of 12 years. Also, some insurers offer specialized hull and machinery collection. For a car valued at 15,000 Euro, for example, that during a year suffer damage worth 1,000 euros, the sum insured is 14,000 Euro. If the owner wants to return to the original sum insured for 15,000 euros, it must first pay an additional insurance premium for reunification called Casco and will issue a supplemental insurance. The sum insured of the vehicle, that the maximum compensation that the owner can receive is determined based on the value they had when a car was new, value which applies a wear scale established by each insurance company in part, determine the real value of the car.
Pay attention to contractual clauses
Customers can receive certain discounts, such as fully insured to pay annual insurance premium, receive a discount of 10%. Another reduction, which is negotiable, is applicable to insured persons who have installed alarm systems and car park in the garage. Instead, those who choose to pay in insurance premium rates should be aware that, in case of total damage, the insurance company will first stop by the end of the first outstanding, then compensate the difference remained harmful. Because of this clause not pass by a majority of those who conclude such insurance often conflicts arise between insurer and insured. Not be neglected that in the Casco insurance contracts concluded, the owners of these cars can get, theoretically, from insurance, compensation of up to 100% of sum insured, but this depends on the provisions of the Convention have been negotiated with the insurer. Should be noted that if an event resulting in total destruction of the vehicle, the insurer shall indemnify value car wreck, which can reach 15 percent 20% of the sum insured, recovery car wreck remained in charge of the insured.
A situation which can create inconvenience to the insured is that it opts for a sum insured less than the real value of the car. In this case apply the principle of proportionality, meaning that compensation will be reduced proportionally to the amount insured. If a component cost 1000 euros and the sum insured is only half the real value of the car owner will receive only 500 euros, and the difference will have to pay it.
There are cases that do not grant any compensation
There are situations in which the policyholder receives no compensation: in case of strikes, wars, nuclear explosions or street demonstrations. If vandalism, few companies take the risk. They are also companies that provide compensation for defective products not under guard car. An important provision of the insurance contract is about the fact that the owner is obliged to keep the car in good running conditions.
How to calculate the value of your car
Casco reference value for the car is new value, which is determined by acquisition of new or invoice based on the value of specialty catalogs (Schwacke, Eurotax, Apia). Of this amount will be reduced wear on the vehicle, which is calculated based on a table to each insurer, depending on vehicle age, calculated from the date of manufacture. The amount obtained is added, possibly, the additional amenities of the car, thus obtaining the insured value.
If additional amenities, those not specified in the catalog insurer for the make and model of policy or not mentioned in the insurance contract will not be covered by insurance. Optimal for both parties is that this amount is closer to the real value, an underestimate is usually for any damage, to the detriment of the insured and the insurance company defavorizand overstatement.
As in the hull, insurance companies have reported losses, they tend to adopt the Western system. Thus, the insurance premium often depends not only on the car provided, but the events caused in the past by its owner.
The system of bonuses or penalties apply depending on damage history during the previous
As reported by type of insurance, the largest losses were recorded on auto insurance segment Casco and RCA and bonus malus system is designed as a means of reducing losses by empowering drivers. Rates on car insurance claims on the Romanian market is one of the largest in Europe, according to statistics conducted in several countries.
Bonus-malus system involves paying a higher insurance by the insured that record damage and a reduction in insurance premium for customers who have suffered road events. These increases or reductions shall be determined according to the history of damage to the vehicle owner when the policy is renewed.
Bonus-malus system creates a totally different behavior of the current conduct of the insured car in Romania. Indemnify the insured percentage in one year comprehensive insurance in Romania is over 50%, starting from scratch minor damage or broken mirrors.
In countries where bonus-malus system works and has matured, this type of damage is generally solved by chetuiala was assured, in order to not worsen their scoring and bonus-malus move thus a category higher risk, avoiding a rise in risk category which is more expensive than a simple repair. Insurance companies looking for solutions to reduce losses in the segment of automobiles, so many insurers rely on the shelves with mandatory deductible
