CASCO total insurance – what to do?
What just do not talk about the benefits of insurance CASCO. Many people are sure that in return for a broken car you can always get a new “insurance”. And in case of any damage you are for CASCO – as behind a stone wall. And always “in chocolate.” And you ask, where such confidence – in response: “Well, this has not happened to me, but a friend has a friend …”.
Details about the actions of the affected party in the total death of the car, insured under CASCO, can be read here→
Example of total death payout (insurance CASCO)
Meanwhile, on the automotive forums walks a detailed story of the car owner, who tried to honestly get insurance reimbursement for CASCO from one of the image insurance companies (UK).
The situation is not typical: a car worth more than half a million rubles was bought on credit, and during negotiations between the car owner, insurance, bank and repairmen of the dealer the financial crisis broke out.
The price for the repair of the foreign car at the dealer has almost doubled (from 270 to almost 400,000 UAH) – and the required amount exceeded the threshold of the complete death of this car by CASCO (total in the language of insurers) – 390,000 UAH.
The SC flatly refused to carry out repairs and insisted on total.
The bank that issued the loan demanded its return, as the deposit – the car – officially became considered irretrievably lost. The car owner has 100,000 UAH (from half a million dollars) left on his hands after the return of the wrecked car to the insurance company and the payment of its loan debt (400,000 UAH).
And no car, no credit, no opportunity to buy anything because of the general crisis.
The trial lasted three months. A wide range of options were considered to resolve the situation.
And in the end they found an acceptable option for the car owner:
→ Insurance draws up a total and estimates the “remnants of the machine” at 200,000 UAH.
→ 300,000 UAH (out of 500,000) returns to the bank.
→, the car owner out of his own pocket pays the bank 100,000 UAH. And repairs are carried out at his own expense – in a solid repair organization, not associated with the dealer, it was estimated at 170,000 UAH. As a result, everything seemed to be fine: the loan is closed, the owner was left with the wheels.
But for this pleasure he laid out an additional 270,000 UAH.
Here are the guarantees for CASCO!
Moreover, please note that all the requirements of the bank and insurance complied with the contracts and the current legislation. So even the most solid insurance for CASCO may not work in a particular situation. And you have to choose the lesser of evils. And if the UK behaves in bad faith against you – and tries to either refuse payment for a far-fetched reason, or to understate the amount of compensation paid, you will have no choice but to defend your own rights through the court. And very often controversial issues arise in such a border situation: when it is necessary to decide repairs or total.
Here are some options for total:
- The insurance gives you the balances of the car and insurance reimbursement minus the cost of the balances. The sum of which – do not doubt – will be overstated;
- The insurance takes away the “metal” (if you refuse the balance of the property in favor of insurers, to which you are fully entitled) and returns the insurance value of the car, taking into account wear and tear and deductible. Few people know that wear and tear is wrong, although it is usually written into a contract – and it can be avoided.
- Insurance understates the cost of damage to go out not on the total, but for repairs. And pays you a smaller amount, which for the real recovery of the car, as a rule, is not enough.
- Insurance, on the other hand, inflates the cost of damage to reach the total, if it – taking into account wear and deductible – the amount to pay is less than in repairs.
In any of these options, your rights may be infringed.Refusal to pay casco by the insurance company is often not legal! And we encourage you to contact professional lawyers to protect them.
Remember – CASCO insurance is not a panacea.
And don’t let yourself be fooled.
Read the payout at the complete death of the car here→
You will be assisted by an insurance lawyer