Best conditions for CASCO Insurance
LION Broker provides the most advantageous offers for CASCO Insurance
CASCO gives the owner vehicle insurance protection (for cars,utility cars,buses,trucks,attachments,etc) in case of an event occurrence such as :accident,collision,scratch,total or partial theft (of vehicle components) as well as damages caused by attemptive theft(for example:broken windows,deterioration of component parts).
CASCO insurance can be closed only for risks stipulated by contract,with excess payment,exclusions,extensions and special clauses foreseen in the contract and in the insurance supplements.
The insurance company will settle claims,in limit of the insurance coverage to the Insurer or the assigned Beneficiary,for the following risks:
- damages caused by hitting ,collision,scratch,falls(including transhipment),falling of objects on the vehicle;
- vehicle theft or the theft of its components or pieces,as well as damages caused following the theft or attempted theft;
- vehicle damage caused by:fire,explosion,fumigation,staining,carbonization or various damages following fire occurrence;
- vehicle damage caused by:flood,earthquake,hurricane,thunder,landslide,heavy rain,hail,weight of snow or ice,snow avalanches,waterways or object carried by them;
- damages to the supplementary equipment fitted to the vehicle,declared by the Insured in the form,their value being in the insurance coverage ,only if these damages were produced following an insured risk;
- damages produced following insured risks to the vehicle components or pieces,while they were dismantled during maintenance or vehicle repair;
- vehicle damage following measures taken to rescue it;
- costs for transportating the damaged vehicle to the repair shop,closest to the place where the accident took place,or to the vehicle shelter,if it cannot be moved.
The insurance doesn`t cover:
- vehicle damage caused by poor maintenance or improper usage,damages caused by utilization,functioning,or following fabrication flaws of the material or pieces,the influence that temperature variation has on the engine9for example,following water freeze from the cooler),as well as engine damage,gearbox damage or differential damage due to lack or insufficient oiling or over-heating;
- tyres or cameras damages caused by cutting,explosion,puncture,excepting the cases when these damages resulted from occurrence of insured risks of the vehicle;
- damages caused by electricity to any power components of the electrical installation
- damages to the supplementary equipment fitted to the vehicle components or pieces,if these weren`t declared by the Insured in the form and their value wasn`t included in the vehicle Insurance coverage;
- vehicle damages of any kind following the crossing of the vehicle through flooded places;
- indirect damages9for example:decreasing vehicle value after repair,losses caused by the vehicle`s lack of utilization,etc);
- part of the increased damage due to not taking the necessary measures to prevent or limitate the loss;
- damages caused to vehicle components which were already damaged in the moment of the insurance closing and were mentioned in the inspection report,which were not repaired by the Insured and not were acknowledged by the Insurer until the date the risk occurred;
- replacing certain parts of the car body of the insured vehicle during its guarantee period,for their repair,although repairing is technically possible and doesn`t affect circulation safety,the repairing unit demands replacing the component to maintain the guarantee;
- damages caused to any ensemble or component part of the vehicle by not respecting the norms regarding merchandise loading during transportation;
- damages caused to spare parts,covers,sliding sheets(excepting vehicles that already equipped with such options),fuel or any goods existing in the vehicle;
- damages caused both to the exterior and interior of the vehicle ,or caused by the action of corrosive substances;
- damages caused by fire or explosion by using an open flame,including in the process of vehicle repair;
- vehicle damage during or following transportation,towing,etc;
- costs in order to remedy unsuccessful repairs as well as those for transforming or improving the vehicle compared to its previous state prior to the risk occurrence;
- in the case that the Insured didn`t notify the Insurer in a written statement within the term foreseen in the Insurance contract and proceeded to repair the vehicle without consulting the Insurer,before its representant examined the loss;
- vehicle damage caused by:
- war (declared or not),invasion or another act of an external enemy,civil war,revolution,rebellion,insurrection,military dictatorship,conspiracy,strike,civil unrest,terrorism;
- atomic explosion,radiation or radioactive infestation;
- pollution or contamination for any cause;
- vehicle damage caused by:
- the accident was caused intentionally;
- the accident was caused during vehicle driving under alcoholic influence,as well as while committing incriminatory facts regarded as offences by road circulation laws,even if these deeds did not occur on such roads,or while committing other offences;
- the accident happened while the author committing a criminal offence attempted to escape from the forces of law and order;
- the vehicle didn`t have an available registration certificate or any available circulation authorisation;
- in the moment of the accident,the vehicle was driven by a person without a available driving licence (fr the respective vehicle category)or after his driving licence was suspended,annulled or retained ,or after the authorities suspended his right to drive;
- theft or attempted theft,if it wasn`t reported to the police,as well as in the event the people from the Insured`s family ,entourage or agents took part in the theft or attempted theft committing;
- cases when the Insured ,by consent,has entrusted the insured vehicle to another person who refuses to return it;
- cases when the person included in the Insurance favorised or lead the insured events to occur or diminished the posibilty to reduce their consequences;
Vehicles will be insured at their real value upon their closing date or renewal date of the policy.The real value of the vehicle represents the value of commercialising the vehicle again(according to bills,catalogues or price lists),not including utilization,established in proportion with its fabrication date .
The insurance contract has a one-year long availabilityperiod,with the possibility of successive renewal year after year.The insurance premium is annualy and will be fully paid,anticipately for the entire insurance period,but ,at the Insured`s request it can be paid semestrial or trimestrial.
Excess payment/Insurance excess
An excess payment is the part of every damage (calculated as a percentage of the insurance coverage or established as a fixed amount of money)that the Insured is obliged to pay by contract agreement.The excess payment is established and registered within the policy in the same currency as the insured amount.This can be a fixed amount or as procentual quota and will not exceed 0,5-1% from the insurance coverage limit.By binding tem to accept an excess payment contract,Insurers are trying to make drivers more responsible,who will have to support costs for scratches or other minor car accidents,even if they own an available CASCO policy.
For example the excess payment for total damage of the vehicle can reach up to 10% of the insurance coverage.
In the event the vehicle is completely damaged and the person`s CASCO insurance has a limit of 10.000 euo,the insurance company will only pay 9000 euro,and the rest will be the insured driver`s contribution-in case he opted for a 10% excess payment.
A fact to be taken into consideration is that insurance with excess payment has a smaller premium than the one without excess payment ,which means the driver will pay less for CASCO insurance,but,in case of an accident,he will have to pay a certain amount ,according to the excess payment agreed by contract with the Insurer.
Closing the CASCO insurance policy
The insurance policy will be closed according to the Insured`s signed declaration from the application form,only after conducting the inspection risk by the Insurer`s representative(only after determining the vehicle`s condition in the moment of closing the insurance).
The application form,vehicle inspection risk,along with the policy`s additional documents,clauses and other written declarations of the Insured ,are integrated parts of the policy.
At the insurance policy closing,the applicant must present the vehicle`s original documents:the registration certificate and the identity card,in the case of new vehicles ,purchased directly from manufacturers or dealers from Romania,the policy can be closed even based on the purchase bill and temporary circulation authorisation.
The insurance is considered closed by issuing the insurance policy by the Insurer and the insurance premium payment ,respectively the first instalment payment by the Insured ,and is available only for the vehicles included and risks specified in the insurance policy.