Auto CASCO

Light motor vehicles
Lorries
Buses
Tractors
Combines
Agricultural machinery
Trailers and semitrailers
Special trucks

The events included in the following groups shall be regarded as insured risks under terms and conditions on an insurance agreement:

‘DAMAGES’ – mean prejudices caused to a motor vehicle and additional equipment thereof by:

1. Collision, impact, overturn, scratching, fall of the motor vehicle or fall of any objects on the motor vehicle
2. Fires, explosions, smoke spread, staining, carbonisation or various deteriorations resulting from a fire
3. Floods, storms, hurricanes, earthquakes, landslip seam or landslides, torrential rains, hail, lightning, snow or ice burden, snow avalanches, metallic action of flowing waters or objects carried by such waters

‘THEFT’ – means a theft of a motor vehicle or some component parts or details thereof, as well as damages incurred thereon as a result of a theft, robbery or holdup or an attempted theft, robbery or holdup, this also relating to additional equipment installed on such a motor vehicle specified by the Insured in the application for insurance, subject to inclusion of the value thereof in the insured amount of the motor vehicle.

Motor vehicles of an age exceeding 11 years cannot be insured, because of their physical wear and tear, obsolescence or breaking up.

Motor vehicles are insured for a period of 12 consecutive months but can be also insured for a shorter period if it was agreed by the parties.

Remark: The insurance protection (Insurer’s liability) cannot start if the insurance agreement was concluded after occurrence of an insured loss and/or in case of imminent probability of occurrence thereof, as well as before the time period specified in the insurance agreement (policy).

When contracting the Auto CASCO insurance, the Insurer shall submit an application for such insurance. The Insurer shall examine the availability and condition of property proposed to be insured. The Insured shall specify the information from the vehicle technical certificate, year of manufacturing, initial and remaining vehicle value, wear and tear, and requested insured amount, in their application. The Insurer shall examine the availability and technical condition of property proposed to be insured. The Insurer together with the Insured shall negotiate the insurance agreement, taking into account the basic tariff amounts and relying on the profitability level, probability of insured loss occurrence and standards set for management expenses.

The insured amount of motor vehicles proposed to be insured shall be set by the parties, based on the market price and insured amount requested by the Insured.

The total insurance premium shall be calculated depending on the insured amount and negotiated tariffs. After the insurance premium is paid, the Insured is issued a policy specifying the time frames of insurance. Insurer’s liability shall start on the day of insurance premium payment and insurance agreement signing (or payment of a part thereof in case of payment by instalments).

Remark: When concluding the insurance agreement, the Insured shall be bound to inform the Insurer about all the circumstances that may be of importance for assessment of the risk level of the objects proposed to be insured, and to answer the questions that are of interest for the Insurer.