CASCO – the complete death of a car
CASCO – the complete death of the car. If as a result of a traffic accident or other case under the insurance contract (a meteorite fell, for example), the car is damaged so much that it is not recoverable, you, of course, hope to get a refund under CASCO. Complete death of the car insurance rules are provided and should be reimbursed, but the procedure of obtaining money for insurance – is not as simple a procedure as we would like.
Casco (from Casco helmet or niderl. casco hull) – insurance of means of transport (cars, ships, planes, wagons) from damage, theft or theft. It does not include insurance of the property carried, liability to third parties, etc.
Consider a hypothetical example:
You bought a car for 1 million UAH. That’s the amount they insured for. Six months later we were in a major accident, where the vehicle was seriously damaged. The insurance estimated the damage, which they believe amounted to 800,000 UAH.
The complete death of a car under CASCO occurs – in accordance with the Insurance Regulations – when there is either no technical ability to repair damage through repairs, or the cost of these works is more than 75% of the insurance value minus the amount of depreciation.
Even without taking into account wear and tear, 75% of the million – 750,000 UAH, therefore, it is really “total” (a term that means actual or constructive total destruction). You hope to get the full insurance cost. And what will the insurance offer you?
There are probably two possible options:
First. Give you the rest of the car and insurance reimbursement. Which will be calculated as something like this: wear and tear in the first year of operation – about 15% – 150,000 UAH.
The annual balances will be estimated at, for example, at 300,000 UAH. (Make no mistake that the amount is likely to be inflated. In reality, the residues can go for parts, perhaps thousands for 100).
Total: 550,000 UAH will be returned.
If there was a franchise, the franchise would be deducted.
And that’s for a car you paid a million for six months ago.
Second. If you waive the rights to the balance of property in favor of the insurer (have full rights, although not everyone knows about it), they will take the “metal” themselves, and you will be offered a refund minus the wear and tear and deductible. If it was not, you will get 850,000 UAH.
Finally, in order to save money, the insurance can simply understate the cost of the damage. Let’s say, thousands to 500. Then they do not recognize the “total” and will pay the money “for repairs.”
You will not repair anything for them, but the insurance will lose less than in the first two versions. There are also more exotic options: insurance, on the contrary, inflates the cost of repairs to reach the total, if it – taking into account wear and charge – is more profitable insurance than recovery.
How to deal with them?
First: quality independent expertise. Assessing both damage, wear and tear, and residues. Then you will be able to insist on total, if the insurance damage understates, fend off it if overstated, or increase the amount of payments under the first option. If you need the rest of the car for some reason.
Second, if the balances are not needed, write in the insurance application to renounce ownership of the insured property with a demand to return the full insurance value (for the second option). You are entitled to receive the entire amount without regard to any wear and tear. Since the insurance premium, fully paid by you, was calculated from the full insurance amount (the same million in the example), there is no reason to reduce the insurance reimbursement. If within seven days of registration of your application from the insurance does not pay for CASCO – go to court.
Third, in any of the situations you can not hurt the help of an experienced auto-journalist.The court on CASCO case is not easy, you will be opposed by lawyers of the insurance company, who will try to prove the legality of accounting for wear, the amount of damage and all other points that benefit insurance, but extremely unfavorable to you. And it is very difficult to fight them without appropriate education and experience.
Contact our company. We will help you to conduct a qualitative examination with all the necessary assessments, we will defend your interests in court and will be able to recover all payments due to you by CASCO from the insurance company.
You will be assisted by an insurance lawyer