Every car owner should know that buying a car requires different documents. At the same time, it is mandatory to issue insurance policies, the most popular of which are CASCO and OSAGO.
What is CASCO and OSAGO
CASCO is the insurance of motor vehicles against any form of damage, even from theft. At the same time, in the event of a road traffic accident (accident), even if the driver who issued the CASCO policy is found to be the culprit, he will be able to cover all the costs of restoring and repairing his own car with the help of this insurance service.
CASCO is a voluntary type of insurance.
In turn, OSAGO is a compulsory car insurance for drivers. In this case, for example, in the event of an accident on the road, the guilty driver is not entitled to any payment under the MTPL, but on the other hand, the MTPL will reimburse all the costs of car repairs to the injured car enthusiast. At the same time, the culprit will have to pay for the repair of his own car himself.
OSAGO covers damage to third parties.
Differences between OSAGO and CASCO
The peculiarities of insurance between CASCO and OSAGO is a list of different insured events. The CASCO policy insures its owner against the following cases: fire, theft, damage to the car by third parties, from any accident, from the effects of various natural phenomena, for example, from falling icicles, floods, hail. In any of the above insured events, the payment will be reimbursed in full amount specified in the insurance contract. At the same time, it is possible to include some other services in the CASCO insurance contract, for example: evacuation of a car from the scene of an accident, assistance in the correct preparation of documents in the event of an accident on the road, departure of an emergency inspector and much more.
In turn, OSAGO insurance protects the property interests of only third parties. This is necessary in cases of damage caused by the fault of the car owner in a traffic situation of one side, to compensate for the damage to the other side. At the same time, there are restrictions on a certain limit of payments, in accordance with the amount - how much is indicated in the policy.
In connection with the above characteristics of car insurance, we can safely say that CASCO is more effective, but compulsory OSAGO.
