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8 real ways to save on Casco

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Sometimes the cost of issuing a comprehensive insurance policy reaches 10–20% of the vehicle price. Sometimes, but not always, especially if you resort to rational ways to reduce costs, which experienced drivers are well aware of. How to correctly save money on hull insurance so as not to harm yourself in the future?

By insuring your car against theft only, you can save a large sum

By insuring your car against theft only, you can save a large sum

Sometimes the cost of issuing a comprehensive insurance policy reaches 10–20% of the vehicle price. Sometimes, but not always, especially if you resort to rational ways to reduce costs, which experienced drivers are well aware of. How to correctly save money on hull insurance so as not to harm yourself in the future?

8 real ways

1. Standard franchise

A hull insurance policy with a franchise, which can be issued at any insurance company, has not only pluses, but also minuses. This term means part of the damage (a fixed amount or percentage), which, alas, the driver will have to compensate on his own. On the one hand, you will have to spend money on eliminating minor defects, such as chips or scuffs on the bumper. But on the other hand, due to this, you can get an impressive discount on the policy.

The threshold is set by the driver. The higher it is, the greater the discount, however, the more money you will have to pay out of your pocket for minor repairs. Practice shows that the optimal amount is at least 10 thousand rubles. At lower values, one cannot count on financial concessions from the insurer, since the costs of office work in each case average 2–3 thousand rubles!

Under the rules of an unconditional deductible, the insurance company indemnifies that part of the damage that exceeds the specified threshold. For example, if, with the agreed amount of 10 thousand rubles, the loss has reached 30 thousand rubles, the remaining 20 thousand will be reimbursed to you.

2. Temporary franchise

If for objective reasons you do not drive for 3-6 months a year, you can consider this option, which is not yet very common in our country. According to the rules of the conditional franchise, the driver himself determines the period x. If it is six months, the cost of the policy will be almost twice as low as the base one.

If you like to take risks and consider yourself lucky, try saving money on a temporary unconditional deductible. The insurance company will independently choose the time interval (more often this summer is an active time for motorists). If an accident occurs during this period, no payments will be made.

3. Insurance only against theft

In this case, the cost can be 3-4 times less than the base one, for example, 10 instead of 40 thousand rubles. Just remember that in the event of an insured event, the degree of depreciation of the car will be taken into account – an average of 10-15% per year. Therefore, you should not count on the full amount. In addition, if you cannot yet boast of a driving experience of 15–20 years and do not feel confident on the road, it is better not to refuse full coverage.

4. Telematics

Telematics is a vehicle control monitoring system. The owner of a voluntary insurance policy receives a special gadget with GSM, GPS, GLONASS modules, with a SIM card and installs it in a regular diagnostic socket. The transmitter collects and analyzes driving style information.

During the trial period, the driver proves that he can drive carefully. If he succeeds, you can buy a Casco policy at a discount of up to 30%. The trial period in different companies is one month, 3 months or 12 months. In the latter case, preferential conditions will be extended to the next year.

Not all insurance companies provide car insurance only against theft, but it’s definitely worth looking for one.

In order to receive a Casco discount when using telematics, a number of conditions must be met, for example, not to exceed the monthly mileage threshold

5. Cash out

There are several options for compensation for damage in the event of an insured event: repair at an authorized dealer, at the insurer’s service center, at any car service center or cash payment. The latter option, as well as contacting an unofficial dealer, is the most beneficial for the UK, so choosing it will cost the policy less. True, in the past few years, many companies have abandoned this practice due to the high risk of fraud, so get ready for an underestimation of the amount of coverage or even refusal by the insurance company to provide such an option.

6. Alarm

Lack of alarm increases the cost of the policy by 10-15%. Insurance companies have a rating of alarm systems, so install not the first one that comes across, but the one that is in the “top”. Mechanical protections can help save up to 5%.

7. Proper compilation of the list of drivers

If the list of drivers includes young and inexperienced drivers, the cost of the service increases significantly. Therefore, enter two or three in the policy: older and more experienced. By the way, this factor is not important for OSAGO – there the difference is minimal.

8. Refusal of additional services

If the terms of the contract allow and this is not critical for you, refuse the services of a tow truck, call an emergency commissioner, provide transport for the period of vehicle repair and other “benefits” for which you have to overpay at the start.

What you need to know about the risk of “total”

The term “total” (often referred to in the French manner as “total”) means the complete loss of the insured car, which, like theft and damage, is included in the basic hull risks. This concept is very conditional. Insurance companies set different damage thresholds (within 65-80%), the excess of which is equated to this condition.

In the event of an insured event, there are two options:

  1. The full sum insured is paid, taking into account the depreciation of the vehicle and the price of good residues.
  2. The owner gives the car to the company and receives the full amount minus depreciation.

Depreciation is calculated according to different schemes: at a fixed annual rate evenly distributed over the number of days elapsed, or at a floating rate (the percentage decreases every subsequent month: 5% in the first month, 3% in the second, etc.). For example, with a car costing 750 thousand rubles in the tenth month of the policy, you can count on no more than 650-675 thousand rubles.

The total option is beneficial for the insurer, but not for the car owner, especially if the vehicle is credited. No matter what scenario events unfold, the funds received will not be enough for a new car, so it is much more profitable to prove that the car is still subject to restoration.

A full hull package - theft, damage, total - is chosen only by people who are not limited in their means

You can save on hull insurance by avoiding one of the three basic risks: theft, damage or total

Whatever way you choose to save money, the main thing is not to overdo it. Evaluate your strengths and risks objectively, then you will surely be able to find the golden mean between the cost of hull insurance and insurance payments.

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