CASCO Insurance CASCO (from the Italian word casco - helmet) is the insurance of a vehicle against risks that may arise during the operation of the vehicle. "Full CASCO" means insurance against all possible risks, while "partial CASCO" covers only some risks. CASCO insurance means only insurance of the vehicle itself and does not include insurance of liability to third parties, insurance of the driver and passengers, property (cargo insurance) transported in the vehicle. Objects of insurance The subject of the motor hull insurance are means of land transport - trucks, cars, special cars, motorcycles, trailers and some other vehicles owned by legal entities or natural persons, including additional equipment and facilities, which are in the possession of the Insured on the basis of ownership, use or disposal. The insurance is provided at rates that depend on the type of vehicle, its age, value, type of use and storage conditions. This type of insurance also tak...
Showing posts from April, 2023
Insurance of civil liability of a bankruptcy trustee
Insurance of civil liability of the liquidator Insurance of civil liability of a bankruptcy trustee (receiver, manager, liquidator) for damage that may be caused in connection with the performance of his duties is a type of insurance, the subject of which are property interests, not in conflict with the law, related to compensation of damage caused by the insured or another person, whose civil liability to third parties is insured, as a result of the professional activity of the bankruptcy trustee (receiver, manager, liquidator). This type of insurance provides for the insurer's obligation to pay indemnification to a third party for a fee (premium, insurance payment, insurance premium) established by the insurance contract in accordance with the terms of the insurance contract for damage caused by unintentional actions or errors in the exercise of the powers of the insolvency manager (receiver, liquidator, liquidator). Agricultural insurance Agricultural insurance (Insurance...
Agricultural insurance Agricultural insurance (Insurance of agricultural products) is a type of insurance where the subject of the insurance contract are property rights, not contradicting the law, related to compensation of losses incurred by the Insured or another person designated by the Insured in the insurance contract while growing, harvesting agricultural crops and perennial plantations, growing (breeding), fattening (keeping) farm animals, poultry, rabbits, bee colonies and fur-bearing animals, growing, breeding, catching (harvesting) fish and other aquatic living resources, and other livestock products. This type of insurance provides for the Insurer's obligation to pay indemnity in accordance with the terms and conditions of the Insurance Contract by reimbursing the Insured or another person designated by the Insured in the Insurance Contract (the Beneficiary) for the loss incurred by the Insured in connection with the damage - death (loss) of crops (plantations), dea...
Medical expenses insurance Medical expenses insurance is a type of insurance under which the subject of the insurance contract are property interests, not in conflict with the law, related to the life, health of the Insured or a third party (the Insured) designated by the Insured in the insurance contract with his consent, as well as medical and additional expenses directly related to the occurrence of the insured event during the Insured's or the Insured's trip(s). This type of insurance provides for the Insurer's obligation to pay indemnification in the amount of the insured sum or a part thereof in accordance with the terms and conditions of the Insurance Contract by reimbursing documented expenses incurred by the Insured or the insured person for medical and other assistance in connection with the insured event during the Insured's or the insured person's trip (journey) for the fee (insurance premium, insurance payment, insurance premium) established in the ...
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4 cases when the insurance payment is not enough for repairs
4 cases when the insurance payment is not enough for repairs Situations when the insurance payment is not enough for repairs are not uncommon. Why does this happen? Is it fair for an insurer to pay less than the cost of repairs? Volodymyr Shevchenko, Director General of MTIBU, spoke about how to avoid such situations and receive the missing funds. Starting from September 21, 2019, the maximum amounts of payments under the contracts of compulsory insurance of civil liability of vehicle owners (CTPCI) have increased by one third and now amount to UAH 130,000 - for damage to "hardware" (car and other property) UAH 260,000 - for damage to life and health. According to MTIBU estimates, only in 1-2% of accidents did property damage exceed the previous limits (UAH 100,000). But in the total amount of payments, such insured events accounted for about 6-7% of the money paid by insurers under the "motor citizen". In other words, we had few victims who were involved ...
Car insurance: the main points
Car insurance: the main points "You call on God, but you have to do it yourself". This proverb is very applicable to the topic of risk insurance. When you buy a car, you want to think only about the positive aspects of its use. And this is correct. However, you should not forget that a car is a means of increased danger and, therefore, increased responsibility. After all, its operation involves risks of harm to the vehicle itself, its owner, and third parties. Therefore, we hope for the best, but do not forget about the need to insure our liability (possible risks and losses). The legislator also thought about this, providing for mandatory forms of insurance for vehicle owners. In addition to compulsory insurance, no one deprives car owners of the right to additionally use voluntary insurance. In this section, we will consider in detail all the most important issues that may be related to vehicle insurance. Insurance is a rather specific type of activity. Therefore, bef...
Accident perpetrator without insurance - what should the victim do?
Accident without insurance - what to do with the victim Sad statistic: About half of the car owners do not consider it necessary to take out an insurance policy. This is despite the fact that the law makes it illegal to drive a vehicle without MTPL insurance. Violating the law seems to be advantageous for drivers: the fine is often less than the cost of insurance. But what should the victim do if the person who caused the accident has no insurance and refuses to pay? Who will pay for the damage? How an insurance policy works If the owner of a car with a formalized MTPL becomes the culprit of the accident, the policy covers payments to the injured party. If the person who caused the accident has no insurance, there will be no one to compensate for the damage. What can you do? However, according to the law, the perpetrator of the accident is still obliged to take responsibility. It is necessary to pay for the repair of the victim's car, a fine for lack of insurance, to compensa...
Guide to multi-car insurance policies
Guide to multi-car insurance policies One of the easiest ways to save on car insurance is to insure more than one car on the same policy. When you get married, for example, you’ll save because married drivers tend to file fewer claims and thus get lower rates. A good driver discount requires a clean record. But a multi-car discount doesn’t require a lifelong commitment or scrupulous attention to speed-limit signs. Instead, it’s a reward for bringing your insurance company additional business. What are the requirements for a multi-car policy? Does the coverage need to be the same on each vehicle? Can I insure a car and a motorcycle on the same policy? What are the benefits of a multi-car policy? How big is a multi-car discount? Can I add other family members’ cars to my policy? What are the requirements for a multi-car policy? To obtain a multiple-car policy, you need to insure two or more passenger vehicles on the same auto insurance policy. It’s that simple. ...
Insurance of issued guarantees (sureties) and accepted guarantees
Insurance of issued guarantees (sureties) and accepted guarantees Insurance of issued and accepted guarantees (sureties) is a type of insurance where the subject of the insurance contract are property interests that are not contrary to the law and are related to losses Losses incurred by the creditor as a result of non-fulfillment (improper fulfillment) of obligations by the guarantor (surety) in the amount and within the terms specified in the guarantee (surety agreement); Losses incurred by the guarantor (surety) as a result of non-performance (improper performance) by the debtor of its obligations to the creditor to the extent and within the terms specified in the agreement. This type of insurance provides for the insurer's obligation to pay the insurance indemnity in accordance with the terms of the insurance contract for the fee (insurance premium, insurance payment, insurance premium) established by the insurance contract by indemnifying the Insured, if the Insured ...