How to Choose the Right and Cheap CASCO?
To select the option of insurance on the market may be not as easy as ABC due to the fact that there is a variety of different car insurance programs. Have a look at useful tips for a more detailed approach to this task.
Choosing an Insurance Company and Options
To choose an insurance company and a better rate, you can use an online CASCO calculator. Calculation will give you an idea where CASCO will be cheaper. Then, you need to apply the appropriate options: franchise, installments, insurance amount, share your age and driving experience, marital status, mention whether it is the credit car or not, and put some other ticks, which are in the submenu "Advanced options".
Then, select several companies with the cheapest price and analyze the conditions of insurance. If you understand the details, then you can find a lot of advantages in a company, but it may take a lot of time. Therefore, here it will be easier to contact a specialist asking questions you are interested in.
- Installment plan. If you choose the appropriate option, but the amount is still too large, you can arrange insurance in installments. It will be a little more expensive than a one-time payment, but then you have time until the next payment. Installments are: monthly; quarterly 1 time in three months; 2 payments: the second payment in 3 months or in 6 months.
- Special programs. Not all of the special programs correspond to the concept of a full insurance, of course, they are limited in coverage, otherwise they would not be called a special program, but due to the cheap cost of the policy, they may meet the needs of many car owners.
Cheap CASCO Policy for the Bank
When you make a car loan, many banks require you to issue a CASCO policy and provide a copy of the policy and a receipt to the bank. This is especially true for borrowers in the second year of the loan and all subsequent ones. This is understandable: any financial institution needs to be confident that the bank’s collateral property will be safe and sound, ensuring the return of cash and interest, of which the bank’s profits consist. Insurance is a necessary measure for all types of collateral. This also applies to houses, apartments, warehouses, farms, factories, all property that is acquired with credit funds. A car belongs to a more risky type of lending.
Every day, there are thousands of accidents around the world, cars crash to complete destruction. Hundreds of cars are also being stolen every day. Many banks make concessions and allow insurance with many benefits: CASCO with franchise; CASCO in installments; for two risks: theft and total death, or CASCO with a large franchise.
All of the above allows you to buy cheap insurance for the bank, and you remain confident in the future.