In 2000, car insurance became compulsory in Russia. Many car enthusiasts are still wondering: do you need car insurance when buying a car? While there are disputes on this issue, the law is still in force.
Types of insurance
By purchasing a car as your personal property, you draw up a number of necessary documents that allow you to legally use the vehicle. Among the technical documents that ensure ownership and control of a vehicle, it is necessary to have an insurance policy for the car. There are several types of official insurance:
- car insurance of compulsory motor third party liability insurance;
- CASCO car insurance;
- auto insurance DSAGO;
- car insurance "Green Card".
Types of insurance
In turn, they are divided into compulsory and voluntary types of insurance. Therefore, when buying a car, one way or another, you still have to insure it. Here are just what types of insurance for your car you will use depends on your decision.
Compulsory vehicle insurance is provided by law, so it cannot be avoided in any way. This type of car insurance includes OSAGO - this is property insurance of a car, which insures the possible risk of civil liability of the driver, the culprit of an accident, causing material damage to another participant in a car accident. More precisely, if the driver gets into an accident through his own fault, the damage caused for him is reimbursed by the insurance company, exactly with the amount of compensation prescribed in the document.
Of course, you can go on a trip without OSAGO insurance, but at the very first traffic police post you will be fined for this, since driving a vehicle without an OSAGO insurance policy is illegal.
Other types of insurance, such as CASCO, DSAGO and Green Card, are carried out at the voluntary request of the car owner, but it is worth noting that when buying a car, CASCO credit becomes mandatory, otherwise the bank will not approve a car loan. CASCO is a car insurance, which assumes that in the cases prescribed in the insurance of possible damage, this vehicle will be repaired at the expense of the insurance company. DSAGO, as an additional type of OSAGO insurance, works if there are not enough funds on the OSAGO policy to compensate for damage. Auto insurance "Green Card" is necessary if you plan to drive your car abroad.
Reasons for purchasing auto insurance
People in the street are of the opinion that auto insurance is a waste of money. You can agree with this if you are a professional driver, obey traffic rules or do not have a car at all. Buying auto insurance, you first of all insure your budget against unforeseen circumstances, get economic and psychological protection. Of course, modern Russian auto insurance requires certain improvements and legislative innovations, but still it is some kind of guarantee of your economic security. Moreover, the law on compulsory insurance has not yet been canceled, so you will still have to purchase car insurance in order to be able to legally move in your vehicle. The only thing you can do at your discretion is to choose an insurance company.
