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How to apply for comprehensive insurance for a credit car. How to calculate the amount of comprehensive insurance when applying for a car loan. How to choose an insurer for comprehensive insurance

Nowadays it is most profitable to purchase a car on credit. In addition, banks are ready to provide fairly good conditions for obtaining a loan with small monthly payments. True, the question immediately arises whether it is worth applying for CASCO insurance for a credit car. It is important to decide exactly how to proceed: obtain a CASCO policy yourself or apply for insurance through a bank that issues a loan for the purchase of a car.

What to choose: an insurance company or a bank?

Is it possible to get by without getting car insurance? Will they give you a bank loan to purchase a car without a policy? You also need to figure out which is the most profitable, how can you save as much as possible on insurance costs?. Having learned all the key points and pitfalls of credit car insurance, we will be able to choose the most effective solutions.

Car loan with and without CASCO

As soon as a person takes out a car on credit, he immediately faces an alternative: take out car insurance through the bank issuing the loan, or get it yourself. First of all, it is important to objectively evaluate the work of banks. The thing is that most financial institutions that issue car loans prefer to attract customers with favorable conditions. Unfortunately, often everything turns out to be beneficial for the client only in words.

How events most often develop.

A lending financial institution will offer conditions that at first glance seem the best. Of course, the immediate emphasis is on low interest rates. A person happily goes to the bank, wanting to save as much money as possible.
To obtain a car loan from this bank you must: When the borrower pays for CASCO insurance, it turns out that he noticeably loses financially. Indeed, insurance requires serious investments.
In most cases, bank clients who want to get a car loan find out that they need to get not just CASCO, but a full insurance policy. It includes mandatory reimbursement of costs for all main risks: damage of varying degrees and types, and not just theft. Of course, such a policy costs more.
Some clients of lending banks assume that they will be able to choose some more advantageous offer in order to pay less for insurance. However, in most cases, banks offer strictly limited . And the borrower cannot choose an insurer that is not included in the list of bank partners.
Additional expenses are also associated with the fact that many insurers prefer to determine increased interest rates on cars purchased on credit.

Loan calculator for finding a car loan

When a person weighs all the pros and cons, having learned that he needs to spend a large sum, there is a desire to give up purchasing a car altogether. Moreover, even purely psychologically, people usually subconsciously do not want to invest money in insuring a car that does not even belong to them until the loan for it has not been paid in full.

Avoiding pitfalls

How to be? How to avoid unnecessary expenses and find the most effective solution to the problem? After all, it is necessary not only to get a loan to buy a car with the most favorable interest rates, but also not to spend too much on insurance.

Proceed as follows.

First, find the insurance company that can offer you the best conditions. If the loan car has a price that is acceptable to you, you can safely focus your attention on this particular insurer. The best option is to select 2-3 offers.
When you have already decided who you will insure with, start looking for banks that issue car loans on favorable terms and have partnerships with exactly those insurers that you have already chosen in the previous step. Stop at a few sentences. The optimal number is 3-5 banks.
All you have to do is sum it up! Add up the interest on the loan, all overpayments and the insurance amount. The total budget for your project should include all loan costs and insurance investments. You must, of course, choose the bank-insurer tandem with which your financial losses will be minimal.

The best offers on car loans

By following simple tips, you can make the most of your funds when purchasing a car on credit and. In this case, you will use the services of the bank, receiving the policy through it, which will free you from wasting time and effort on insurance.

How to do without insurance at all, is this possible?

Of course, many borrowers are concerned about whether it is possible to refuse insurance so as not to spend money on obtaining CASCO insurance at all. There is one important point here. If you have just purchased a car, you will have to pay CASCO anyway. Those who do not do this simply do not receive approval for their loan application from the bank. But from the second year of loan repayment and car operation, there are already other options. You have the right

When you did not provide information to the creditor bank and did not purchase, you will save significant money. Be sure to check exactly what penalties your lender will impose if it turns out that you did not take out insurance. Typically, lending banks in such cases increase the interest rate by one percent during the year. Often the final overpayment due to the lack of a policy is 3-6 thousand rubles on average for the entire year. Of course, this amount does not look so large if you compare it with the funds that you have to invest.

In general, creditor banks do not always impose fines on borrowers who have not received insurance, since this information simply does not reach them. Then your savings will be even greater.

CASCO: looking for the most profitable solutions

Now we will look two excellent options to obtain a CASCO policy on the most favorable terms. This is a good decision, since you will have insurance, protect yourself from possible sanctions, but invest a minimum amount in the policy.

Franchise

The best way is to get .? A policy with a franchise will cost significantly less than regular CASCO. For example, you can become the owner of insurance, but spend three times less money on the policy. And the car owner still has insurance against theft, the opportunity to compensate for damage in case of serious damage. Why do you need a franchise, what is it? By receiving, you immediately determine the amount of the deductible - the amount you will pay if an insured event occurs. So, if your deductible is 10 thousand rubles, and the insurance amount is 18 thousand, in the end you will receive 8 thousand rubles. For car owners, such insurance is beneficial because CASCO insurance is cheaper. There are also advantages for the insurer. It is important for them that for minor damage, when the amount of the insurance payment is less than or equal to the deductible, the policy holder will not apply for insurance at all. This allows insurers to save money and labor costs.

Minimum insurance

Minimum insurance is in great demand. This is an economical CASCO option when. The price of such a policy is extremely attractive, since it is many times less than the cost of conventional insurance. For example, a full CASCO insurance can cost 40 thousand rubles, but an anti-theft policy can cost only 6 thousand. By taking out such a policy, you will avoid fines from the creditor bank, ensure a certain level of car insurance, and invest a minimum of money in purchasing the policy.

If any damage is caused to the car, this will no longer be an insured event. You will have to reimburse financial losses due to repairs from your own funds.

Choosing a creditor bank for insurance without obtaining CASCO

You have the opportunity get a loan to buy a car, but at the same time. True, some banks have restrictions.

If you refuse insurance, you will have to significantly overpay for the loan, since the bank needs to somehow compensate for its risks. Most often you have to overpay approximately twice. It is worth considering how much more profitable it would be for you to refuse insurance. You will lose money, but you will not receive compensation for damage either.

If we consider the largest financial organizations, there are no conditions for car loans without issuing a policy. Regional restrictions are relevant at Alfa Bank. The following conditions are offered by popular banks.

At Trust Bank there is practically no difference between the annual interest rates with and without CASCO, but the commission increases. It is charged every month for service, and rises to 0.6% of the total debt.
VTB 24 offers to issue a loan without a policy with an increase in rate from 13% to 22%. Thus, the difference will be as much as 9% per annum.
In Rosbank the rate will even more than double: instead of 11.5% you will have to pay 24% per annum.

Some decide to take a risk and take out a loan in foreign currency. Then there is a chance that the interest rate will decrease as the exchange rate fluctuates. But it can also grow sharply.

Tricks of banks

Unfortunately, it has long become clear to many: credit institutions care about their financial well-being. Their own interests are more important to them than the interests of the client. Externally profitable lending schemes may actually turn out to be unprofitable for borrowers. Various tricks allow you to force clients.

The most common is the scheme used by creditor banks: they force clients to agree to enter into an agreement with the insurer for the entire loan period. Banks are in a partnership with the insurer and receive interest for attracting new clients to the insurance company. This can be extremely disadvantageous for the borrower. It is advisable to renew the insurance contract every year. In addition, in this case, you will have the opportunity not to receive insurance at all in the second year of lending.

Who will get the money?

It is worth paying attention to another important point that many car owners overlook. If a credit car is stolen, not only the owner, but also the bank will receive money. In this case, there is a possibility that the car enthusiast himself will not receive anything at all.

When a car is stolen, the entire insurance amount is sent to the bank. The lender covers from it all funds remaining unpaid by the borrower. is released, but he himself will receive the money only if there is a balance after the loan is fully repaid.

If you carefully read the insurance contract, you will see three key concepts there: beneficiary, owner and policyholder. In the event of an insured event - theft - the insurance payment is received by the beneficiary and the owner or only the beneficiary. And the beneficiary is the creditor bank. We can conclude that, first of all, the bank’s risk is insured, and the car owner pays for the policy.

CASCO insurance: choosing the best term

Please note: cars lose value almost every year. The amount of insurance, if you take out it for several years, will quickly become too high. That is why you do not need to agree with the lending bank if it offers to issue a policy for the entire loan period. This is not profitable for the car owner. The optimal solution is to get a policy for one year. Then you will be able to get better conditions or not take out a policy at all.

CASCO and car loan: car loan with CASCO

Now you know all the basic nuances of credit car insurance and can choose the most profitable options.

Looking at the stream of sparkling new foreign cars, I remember the famous humorist’s saying: “Show me your car, and I’ll tell you how much money you owe the bank!” Russia is experiencing a real boom in car lending, which has given rise to such a phenomenon as “forced” insurance, which is mandatory when issuing a loan. Indeed, most banks stipulate in the loan agreement the need for the borrower to insure the car against damage and theft under CASCO, as well as sometimes other risks.

It would seem that insurance is a great way to protect your property and yourself from unpleasant accidents. However, if you buy an insurance policy when applying for a loan, this does not always mean that you are providing insurance protection for yourself. Let's consider all the nuances and pitfalls of insurance when applying for a car loan.

What risks do “bank insurance policies” protect against?

What are the main reasons that force a bank to require its client to take out insurance? This is by no means a concern for the well-being and protection of the borrower. The bank takes care of itself first and foremost. Every credit institution is faced with the phenomenon of non-repayment of loans and late payments. To protect itself as much as possible, the bank makes full use of insurance opportunities. Several years ago, during the emergence of consumer lending in Russia, insurance of banks against loan default was in great demand. However, very soon this type of insurance established itself as highly unprofitable and impractical for insurance companies, forcing them to abandon its use. Having lost such convenient support, banks came up with several more good options for protecting against obligations not fulfilled by borrowers. Loan agreements today may provide for compulsory insurance of several types:

Insurance of a car purchased with credit funds under CASCO against the risks of “Theft” and “Damage”

One of the conditions for obtaining a car loan is the transfer of a vehicle purchased with the bank’s money to the bank as collateral until the funds are fully returned. In case of non-payment of loan installments, the bank has the right to take the car for sale to pay off the debt. However, an expensive car is not a very reliable collateral, since it can be stolen or damaged in an accident. If such a sad event occurs, the bank will have nothing to compensate for the amount of the loan issued. The borrower, having lost his car or received a car requiring major repairs after a serious accident, will be very reluctant to repay the loan. That is why the bank insists on mandatory insurance of the collateral subject to full CASCO insurance against the risks of “Damage” and “Theft”.

OSAGO insurance

Despite the fact that compulsory motor liability insurance is mandatory for all car owners and is regulated by the state, the creditor bank dictates its terms here too. Most often we are talking about specific policy validity periods, which usually must coincide with the date of the CASCO policy and the date the loan was issued. In addition, the bank prohibits insuring under compulsory motor liability insurance in installments, and making the policy open, providing for an unlimited number of persons allowed to manage it. Often, the lists of drivers in CASCO and MTPL policies must be completely identical.

DOSAGO insurance

Often, the bank obliges the borrower to purchase a Voluntary Motor Liability Insurance policy. It will protect in the event that the insured amount provided for in the MTPL agreement is not enough to cover expenses after an accident due to the fault of the borrower. As a rule, the bank independently sets the amount for which DOSAGO should be insured.

Accident insurance

Some banks go even further in their prudence. If the loan amount is large enough and the borrower’s age exceeds 45-50 years, the bank may require him to insure against accidents against the risks of “death”, “disability”, as well as “permanent” and sometimes “temporary disability” "

A number of commercial banks make accident insurance a mandatory condition for issuing a car loan. Insurance should help pay off the loan if an accident occurs to the borrower, which jeopardizes his ability to do it himself. Requirements for an accident insurance contract may vary. Some banks ask the borrower to insure his life and health for the time when the borrower drives a car purchased on credit. Such insurance is inexpensive and is most often included in a combined voluntary auto insurance contract. However, cases of compulsory accident insurance with insurance coverage “24 hours a day” are not uncommon. The cost of such a policy can reach several tens of thousands of rubles.

Requirements for an accident insurance contract may vary. Some banks ask the borrower to insure his life and health for the time when the borrower drives a car purchased on credit. Such insurance is inexpensive and is most often included in a combined voluntary auto insurance contract. However, cases of compulsory accident insurance with insurance coverage “24 hours a day” are not uncommon. The cost of such a policy can reach several tens of thousands of rubles.

The fact is that personal insurance rates depend on the age, gender and health status of the insured person. So, for example, a 50-year-old man with a chronic disease can receive a tariff of 6-7% of the sum insured for NS insurance. Which is, in principle, equivalent to the cost of CASCO insurance. But it is important to remember that the requirement to insure under the National Tax Service is illegal if the bank refuses to issue a loan without such a service. The bank has the right to increase the loan rate for clients who are not insured under the National Insurance (and this increase should not be discriminatory), but does not have the right to refuse to issue a loan due to the lack of insurance against the National Insurance.

Who does collateral insurance protect?

Having insured the full program and fulfilled all the bank’s conditions, there is no time for the borrower to relax. To understand how useful the insurance terms are for you, carefully study the insurance documents.

The main point that should interest you is the information about the beneficiary specified in the insurance policy and other documents received from the insurer.

Most often, the full legal name of the creditor bank will be indicated here, without any notes. In this case, the insurer must transfer all payments for insured events to the bank. That is, in essence, this insurance option assumes that, at your own expense, you insure, first of all, the bank’s risks. And the amount of compensation for an insured event will depend only on the honesty and integrity of the bank. In this case, the policyholder has no confidence that the payment will be credited to repay the loan or will be given to him for car repairs. The bank has the right to use the received payment at its discretion. Of course, in the vast majority of cases, credit institutions do not use this “loophole,” but if the bank that issued you the loan does not inspire confidence, such a “loophole” may subsequently become a problem.

A more reliable option for the borrower is when the insurance contract states that for the risks “Theft”, “Theft” and “Total constructive loss of a vehicle” the beneficiary is the bank, and in other cases – the insured. This wording means that all insured events under the “Damage” risk with damage up to 60-85% of the actual cost of the car will be used to restore the collateral to the bus station, or to the insured to restore the collateral.

As was written above, normal creditor banks, even if the bank agreement indicates the bank as the sole beneficiary, do not take the money for themselves, but give it to car repairs. In practice, this process looks like this: the client contacts the insurer with a claim about an insured event. The insurer reviews the documents, draws attention to the fact that the beneficiary - the bank, receives a report on the assessment of the cost of restoration repairs. Next, the insurer prepares a letter to the bank with a request to explain in writing to the insurer what to do with the compensation and where to transfer it, since he is the beneficiary under the contract. There are several possible answers from the bank:

The bank asks the insurance company to transfer the payment to the client’s account to repay his debt on the loan.
The bank asks the insurance company to dispose of the compensation at the discretion of the policyholder. This type of response most often comes from the bank if the borrower regularly makes payments on the loan. This option for disposing of the insurance payment is more profitable for the bank, since it will receive a restored collateral and a loyal client who is ready for further payment of the loan and interest.

It is also important to pay attention to one more nuance. In insurance policies concluded at the request of the bank, in the section on the beneficiary or in special conditions, an entry must be made that payments are transferred to the bank in relation to the outstanding credit debt of the policyholder. The difference between the payment amount and the borrower's debt on the loan in this case is paid to the policyholder. The absence of a record leaves hope only for the integrity and honesty of the bank, which will consider it necessary to give the difference to the borrower. Unfortunately, this does not always happen.

Risks of insurance at the request of the lending bank

In addition to all of the above, a car loan borrower should remember the following:

In most cases, insurance is mandatory.
The borrower usually has no choice here whether to insure or not, and there is no opportunity to save on unnecessary insurance when he is confident in his driving skills. Although, to be more precise, there is always a choice, but those car loan programs that allow the borrower not to insure usually cost an order of magnitude more than the policy, which automatically makes them unprofitable.
The insured amount is determined by the bank.
Most often, the borrower does not have the right to set the insured amount under insurance contracts on his own and save on this by choosing incomplete property insurance (i.e., for example, indicating the cost of a car is 800,000 rubles, instead of 1,000,000, as the bank wants, it will not work). This point is ambiguous, since savings from understating the insured amount will also affect subsequent payments, which will be calculated as the ratio of the insured amount to the insured value. For car loans, the bank usually requires the car to be insured for its actual value, and for accident insurance, insurance coverage will be equal to the amount of the loan debt and the annual interest rate added to it.
A CASCO insurance policy for credit cars may cost more.
As a rule, tariff rates for insuring credit cars are higher than for vehicles purchased by the policyholder independently. The fact is that insurance companies include in the cost of insurance for a “bank client” the amount of commission to the bank, brokers and agents, which the borrower will have to pay. Typically, an agency agreement is signed between the bank and the insurance company, in which the bank acts as an agent for attracting clients to the insurance company. Often the lender's agency fee is 35-40% of the amount you will pay for insurance. In addition to official contracts, the commission goes to unofficial payment for the services of credit agents, who unobtrusively recommend a certain company to the borrower. It is worth noting that inflating tariff rates for insuring “credit” cars is absolutely illegal and violates the “Law on the Protection of Consumer Rights.” The Federal Antimonopoly Service closely monitors the activities of banks and insurance companies in this area. Each case of borrowers filing complaints with the FAS is considered and serves as the basis for gradually changing the current situation for the better. Thus, several years ago, the Rostov Department of the FAS revealed cases of differences in tariff rates for the same types of insurance by 30%, which was the result of illegal agreements between banks and insurers. FAS was involved in the activities of insurance companies and banks and forced them to eliminate the violation that had taken place. Unfortunately, the Russian mentality does not allow the majority of citizens to protest against the sometimes predatory conditions of credit institutions. However, remember that in this case the law is on your side, but you will need to prove your case with documents.
Prohibition on installment insurance.
The bank may prohibit borrowers from splitting the annual insurance premium into payments. The credit department will ask you to show the original receipt of payment of the full cost of the policies for the year. This approach is not always convenient for the policyholder.
Extension of insurance contracts is necessary until loan obligations are fully fulfilled.
Every year, until you fully pay off the car loan with the bank, it will oblige you to take out insurance.
The list of insurance companies that are bank partners may be very limited.
Having issued a loan, the bank may deprive you of your freedom of choice when searching for the best insurance company. The bank will provide you with a list of insurers accredited by this institution. This list, sometimes consisting of two or three companies, will reflect not your opinion, but the bank’s opinion regarding the best and most convenient insurance conditions. They will not accept an insurance policy from a “foreign” company, forcing you to take reinsurance or denying you a loan. Imposing certain insurance companies on borrowers is contrary to antitrust laws. FAS monitors the terms of cooperation agreements between banks and insurers, and also responds to complaints from borrowers and policyholders. The FAS often initiates cases against banks for imposing insurance companies. You can protect your rights if you contact the FAS, but you still have to prove your case.

Read the insurance contract carefully.
Only a detailed and detailed study of insurance documentation will allow you to avoid extortionate insurance conditions. Ask the insurance company for a complete package of documents - insurance rules, policy, special conditions, if any. Request clarification of unclear points from competent employees. Don't sign the contract in a hurry.
If you are going to buy a policy at a bank or salon, first find out the cost of insurance yourself.
Often, at the car dealership where you purchase a car, and at the bank where you sign a loan agreement, friendly agents from insurance companies from the bank’s list are on duty. When offering you insurance here and now, they will talk about convenience, saving time and the need to be insured before leaving the salon. However, their words are not always true. Usually the price of a policy from an insurer's agent is very high, since it includes his earnings, which he does not want to lose even partially. True, there are also completely opposite cases when insurance at car dealerships becomes the most optimal option. This situation is possible if the salon has its own insurance department, in which policies are issued by the salon’s full-time employees. In this case, insurance is a related service when purchasing a car, organized with the aim of increasing sales of the cars themselves. In this case, “salesmen” of insurance services are not motivated by agency fees. The salon, in turn, making excellent money from selling cars, can afford to completely waive the insurer's commission in order to attract a buyer. In addition, one of the conditions of a cheap policy purchased at a salon may be to receive insurance payments only through repairs at the service station of the salon itself (official dealer). For a client who bought a brand new car, this point may not be significant, since vehicles under warranty are most often repaired in this way. At the same time, the salon gets the opportunity to earn money in the future through payments from the insurance company for repairs and that is why it is so willing to give discounts on insurance. Be that as it may, carefully study all possible options for purchasing a policy. Remember that it is possible to issue a policy in advance under the title and loan agreement, showing the car for inspection a little later. In addition, you can calculate the cost of insurance on the Internet, for example using the CASCO calculator.
Study in detail all offers of the lending and insurance market.
Typically, each bank has a very small list of accredited insurers with very high rates. However, large insurance companies cooperate with many banks. Inquire in advance not only about the terms of the loan, but also about the insurance options. Try to read

Do you want to take a test based on the article after reading it?

YesNo

When applying for a car loan, one of the main requirements of most banks is to obtain voluntary insurance for the car purchased on credit. Since when receiving a loan, the vehicle becomes collateral, credit institutions try to secure the transaction as much as possible, forcing them to purchase insurance that would provide financial protection in case of damage or loss of the collateral.

Is this insurance required for a car loan?

The law, establishing the obligation to purchase an auto liability policy (MTPL), does not provide for any other requirements. Since such an insurance agreement is concluded on a voluntary basis, the question arises whether it is possible to refuse CASCO if the car is on credit.

This system works on the principles of voluntariness, i.e. the motorist independently decides whether he needs it or not. On the one hand, the owner of the vehicle is insured in case of a road accident, theft, or other damage to the car, regardless of the fact who is responsible for the event. On the other hand, the costs of voluntary insurance are quite significant.

However, the principle of voluntariness fades into the background when a car buyer turns to a financial institution to get a car loan with CASCO. The fact is that successful consideration of the application and low interest rates, in most situations, are possible only if the owner is willing to bear the costs of CASCO insurance.

When agreeing on the terms of a loan, banks back up their requirements with references to current legislation:

According to Part 10 of Art. 7 of Law No. 353-FZ, the loan object transferred to the borrower is subject to insurance.
In paragraphs Clause 1, Article 343 of the Civil Code of the Russian Federation establishes the right of credit institutions to demand a policy as mandatory collateral for a pledged object, since car lending is most often associated with the need to transfer a vehicle as collateral.

Based on these standards, the financial organization reserves the full right to use the CASCO waiver when justifying a negative response to the application.

Summarizing the above, we can draw the following conclusions: since the law does not require car owners to enter into a voluntary agreement, this service is purchased at the request of the borrower, but its purchase will give a high chance of issuing a loan on favorable terms.

If this is not a major cost item for the client, it is recommended to simply take measures to reduce the cost (deductible, installments, etc.) Otherwise, you need to study the topic of how to refuse and how not to pay for additional insurance .

Why do banks impose CASCO insurance?

According to reviews from car owners who took advantage of the bank’s standard offer, the final overpayment on the loan is often comparable to the price of a second car. Of course, much will depend on the interest rate and the length of the repayment period, but the cost of an expensive policy becomes a serious expense for the borrower when buying a car.

When faced with persistent advice to draw up an agreement with an insurer, you need to understand why credit institutions require you to draw up a policy. There are several real reasons:

The buyer has little driving experience, which increases the risk of an accident and damage to the credit car.
The income of the potential borrower raises doubts about the future solvency and timely and full repayment of the loan.
The car chosen for purchase has a high mileage and there is a risk of frequent breakdowns and repair costs.
The pledgee must have additional guarantees of the safety of the property that serves as collateral.
Since the pledged car will be the property of the financial institution until the debt is completely settled, additional guarantees of the safety of the property are needed.
If the car is damaged in an accident, the citizen continues to make monthly payments without worrying about the need for additional expenses for vehicle repairs.

With CASCO, the following options for receiving compensation are required:

In any case, the lender who provided funds to the motorist has maximum guarantees that the entire amount borrowed will be returned with interest, regardless of changes in the financial situation or condition of the vehicle.

How to avoid car loan insurance

Many motorists, instead of purchasing CASCO for a credit car, prefer to use non-targeted lending (consumer loans). In this situation, it is not necessary to draw up a voluntary auto insurance contract for the purchased property. Even if you borrow money at high interest rates, the overpayment on a loan with auto insurance for the entire term may exceed the overpayment on a consumer loan. In addition, the car remains in full ownership of the driver, without becoming an object of collateral for the lender. However, this option is preferable only when a person is confident in the quick repayment of the loan, and his driving style is calm and careful, which significantly reduces the risk of getting into an accident. Any citizen retains the right to choose a banking program.

If a motorist has decided to refuse CASCO for a car loan, and the conditions of the financial structure allow him to do without it, the buyer should be ready to reconsider the offer. The following situations are possible:

Increase in interest rate.
Providing additional cash security, registering other property as collateral.
Reduced repayment period.
Reducing the maximum loan amount.
Increasing the share of the down payment to half the cost of the car according to the conclusion of the appraisers.
Providing additional documents confirming solvency, as well as preparing certificates of a sufficiently high level of income.
Considering the possibility of purchasing a car from the list of those offered by the bank itself.

There is another alternative way - to insist on your right not to issue a policy for your vehicle, since the law does not oblige the owner to do this. During the discussion, the future motorist can remind the department staff about the rights of the consumer, which allows him not to insure the car at his own discretion.

The result of negotiations with a bank is difficult to predict, but such behavior by a client increases the risk of a refusal to issue borrowed funds, because a credit institution is not at all obligated to issue a loan to everyone who applies for a loan. The refusal will not affect the lender's decision if the funds are received as part of a consumer loan, where the interest rate is higher and the loan amount is smaller.

Is it possible not to pay CASCO insurance for the second year?

If, at the time of issuing a loan, each bank tries to secure the transaction as much as possible, then in the second year of repayment, the person’s financial situation may worsen, which will give rise to new doubts about the validity of the expenses. When the car is on credit, what will happen if you do not pay CASCO for the second (third) year can be found out from the terms of the loan agreement.

If in the first year the motorist has established himself as a conscientious payer, paying amounts exceeding the monthly contribution, or the borrower has used other banking programs (opened a deposit, paid for another bank service), the lender can reduce the requirements. This will allow you not to pay CASCO for a car loan in the second year.

In some situations, the line of credit is opened for just a couple of years, which means a significant reduction in the outstanding balance by the second year of payment. It is unlikely that an institution that is confident in its client and his reputation will demand early repayment of the loan due to refusal to pay for insurance for the second year.

Doubts about whether it is necessary to apply for CASCO insurance for the second year of lending intensify as costs rise. People often face increased prices, while the vehicle itself has become significantly cheaper. Even if there are no claims for which payments were made during the year, costs may be higher in the second year due to increased rates within the company. In such a situation, it is recommended to change the insurer, considering more favorable offers for the car under CASCO.

When deciding on the issue of insurance, you must first study the clauses of the car loan agreement. This will allow you to understand what consequences are established for refusing to purchase in the second year of payments:

An indication of the borrower's obligation to insure the car under a voluntary system every year requires strict compliance with the clause. Only by agreement with the bank can a loan be refused for the 2nd year of lending.
The situation is different when the clauses of the contract do not indicate the obligations to draw up a contract on voluntary auto insurance. No demands of the bank will be valid if the agreement does not indicate this need.
The clauses of the contract may contain information that the borrower must enter into an insurance agreement by the time of the transaction, which automatically releases from further obligations for subsequent insurance periods.

Before you stop paying insurance, you need to study the clauses of the contract, which indicate whether CASCO is obligatory for the entire period and what are the material and legal consequences of violating the terms of the agreement (fines, penalties, delays). If there is information about penalties, the bank will be able to legally demand payment not only of the loan debt, but also payment of all penalties accrued in accordance with the agreement.

If you refuse to pay, you may face an increase in interest rates. In this situation, it is recommended to calculate how much the overpayment on the debt balance will be higher than the cost of the annual policy. If there is no overpayment, but, on the contrary, there is a final saving, the refusal will be justified.

As an example, consider the lending programs at VTB24 in 2017:

With insurance, the loan is issued at an interest rate of 12.9% per annum. When applying for a credit line of 500 thousand rubles for 3 years, the overpayment of interest will be more than 105 thousand rubles.
Without insurance, the rate rises to 15.9% per year. Under similar other conditions, the overpayment of interest for a 3-year period will be about 130 thousand rubles.

Obviously, in the absence of voluntary insurance, the cost of overpayment for 3 years will be only 25 thousand rubles or just over 8 thousand rubles for 1 year. If saving money is of primary importance to a citizen, you should compare the costs of 3-year insurance for a specific car, and doubts will disappear by themselves.

The situation is different with a careless, inexperienced driver. For such persons, non-renewal of the policy entails the risk of large monetary costs if they are involved in an accident. It may be unwise for them to refuse voluntary car insurance.

Is it possible not to pay insurance for the third year?

Approaching the third year of debt servicing, the borrower again wonders whether it is possible not to pay CASCO for a car loan. If the driver is experienced and has many years of accident-free driving experience, the bank may be willing to accommodate. In such a situation, it is possible to reduce the requirements for material security on the collateral, especially if the balance of the debt is small. However, this issue still remains at the discretion of the bank for the third and subsequent years.

In the third year, costs can be reduced if the driver has confirmed his accuracy in payments and responsibility. The insurer itself can offer a preferential rate or provide a discount to its regular customers who are highly disciplined behind the wheel. In this case, both the owner of the vehicle and the bank benefit - financial guarantees are preserved, and costs for them are reduced.

It is recommended to study the clauses of the banking agreement that talk about the consequences if you do not renew CASCO insurance. In addition, even at the stage of agreeing on the terms, it is recommended to offer the bank other material security that would guarantee full payment of the debt with interest. In the end, the organization is interested solely in the financial security of the transaction.

The pleasure of owning a new car is almost always overshadowed when the time comes to purchase/renew a comprehensive insurance policy. This is what happened to me too. In August 2013, I bought a new Skoda Octavia A5, and then paid 42 thousand rubles for full comprehensive insurance. at insurance VSK. A week ago, the insurance manager from the salon called me and offered to renew my comprehensive insurance policy. She calculated everything in advance, but my jaw involuntarily dropped when I heard the numbers! VSK offers me to extend my insurance for 87,000 rubles! This is more than double compared to last year, taking into account that during the calculation the cost of the car was reduced by 10%. The manager also offered several options, where the cheapest comprehensive insurance policy was around 65 thousand rubles. At that moment I could squeeze out only one phrase from myself: “Thank you, I’ll think about it.”

The mood was already ruined, and I wanted to quickly clarify this question: “Why has it become so much more expensive?” It is possible that the managers from the salon want to cheat this and sell the policy at inflated rates, then there is a possibility that you can buy comprehensive insurance directly from the insurance company for adequate money.

This year I had one claim for comprehensive insurance, the bumper was painted and the fender was replaced, a total of 25 thousand rubles worth of work. I was not to blame for the accident, but there was no one at fault either; someone hit me near the hypermarket while I was in the store. But can’t the cost of insurance double because of this? I think not.

Unfortunately, only a few insurance companies have an online calculator on their website where you can calculate the cost of insurance yourself. Many have only a semblance of it, it seems that you fill out all the fields, and at the end leave your full name, phone number and the manager will call you back. How these forms irritate me! Well, I don’t want to leave you my data! I had to call such offices by phone and ask them to calculate the insurance; they didn’t require me to leave my phone number there.

The result of calling and calculating on the sites confirmed my fears, comprehensive insurance has really gone up in price. But I don’t know whether all cars have gone up in price or just popular ones, like mine. The record so far is held by the insurance company Ingosstrakh - 97 thousand rubles, and the lowest price was held by SK Strazh - 47 thousand rubles. I read the reviews about Guardian and immediately excluded it from my list. After this little research, it became clear that buying comprehensive insurance from a normal insurance company for Octavia is cheaper than 60 thousand rubles. it won’t work (Skoda Octavia A5, 2013, 1.8 TSI, 152 hp, automatic transmission, Elegance, 10 years of experience).

Friends and acquaintances recommended their insurance brokers to me, from whom they buy insurance. I called 3 different brokers, they did the calculation within 2 days. This calculation showed the same order of numbers as I already knew, but they could be negotiated. You say that you have just been offered 1,500 rubles less, when they immediately offer you a discount of 2,000 rubles. Just like in the market, exactly.

There is good news. When talking with the manager of one insurance company, the conversation came up about the deductible, he suggested calculating the comprehensive insurance with the deductible. But I have a credit car, and Sberbank does not allow insurance with a deductible. Which is complete stupidity in my opinion. But then the manager declares that, according to his information, Sberbank allows you to create a franchise. And then my eyes lit up. It couldn't have been? This insurance company turned out to be expensive even with a deductible, so I quickly ended the conversation and was already dialing Sberbank’s number. The call center operator, after a 10-minute meeting with someone, confirmed that the franchise can be used. But you can’t fool me, I asked for a link to some document where this is confirmed in writing. Another 10 minutes of waiting and now she dictates to me where I can find this phrase on the bank’s website.

This document is called - Mandatory requirements for insurance companies, clause 10.11. http://www.sberbank.ru/common/img/uploaded/files/pdf/credit_org/strah_treb.pdf

Many people underestimate the benefits of a franchise, so I will try to explain. The franchise allows you to reduce the cost of comprehensive insurance by up to 50%, but at the same time there is a deductible amount that we pay in case of any insured event. If we consider this using my example: the full cost of comprehensive insurance in Reso is 61,640 rubles, and with a franchise it is 15 thousand rubles. - 36939 rubles. Saving 24,701 rubles. According to statistics, my insured event occurs no more than once a year. Usually someone somewhere scratched me and disappeared. That is, if I get scratched again, like last time: painting two elements and one for replacement, then I will apply for comprehensive insurance. In this case, out of the repair cost of 25 tr. I will pay 15 thousand rubles, and the insurance company will pay 10 thousand rubles. If I only have one element scratched, where only painting is needed (repair is less than 15 thousand rubles), then I will not call the insurance company at all, but will repair the car myself. If the second participant in the accident does not escape, then we will be able to issue a Euro-protocol and I will be able to compensate part of my damage at the expense of his compulsory motor liability insurance. The MTPL policy usually covers only part of the costs, such as depreciation and other unexplained circumstances. There is a very big advantage here, because by agreement you can leave and not wait for the traffic police, saving a lot of time. You can also choose a repair service at your own discretion, and not in the direction of the insurance company. But you should understand that if several accidents occur in a year, you will have to pay 15 thousand rubles several times, and this will be more expensive than full comprehensive insurance without a franchise. So the franchise is for those who rarely get into an accident and want to save time and nerves. I'm just one of those people.

To buy insurance I went to the Reso office on Nepokorennykh Avenue in St. Petersburg, there are two sales managers there. I did not contact brokers, although they were a little cheaper, due to the fact that you can only buy a policy from them, but you still need to go to the office of the insurance company to inspect the vehicle. Also, brokers, if they offer a discount, only accept cash for payment, but I save money, so it’s advisable for me to pay for everything with a bank card.

40 minutes and the insurance is in my pocket, or rather in my bag. I took out comprehensive insurance with a franchise of 15 tr., OSAGO and DOSAGO up to 600 tr. - all together it came out to a little more than 40 thousand rubles, I paid with a bank card. I found out that I have a maximum discount on compulsory motor liability insurance - 50%. Let me remind you that to obtain insurance you need the original PTS, registration information, VU of everyone we include in the insurance, all the keys to the car.

All that remains is to notify the bank about the new comprehensive insurance policy; to do this, you need to come to the Sberbank office, where there is an insurance manager (not all branches have one) with the policy and a receipt for insurance payment. They will scan everything there and give it back.

By the way, there was a funny incident in Reso’s office. The second manager had clients who wanted to insure a car and persistently asked to indicate in the contract that it was 4C, and not a regular one. They had a distinct Southern accent. I became curious about this strange car. It turned out that it was a Porsche Panamera 4s for 4.5 million rubles. The cost of insurance is 325 tr, they give a discount, resulting in 299 tr. What a twist. At the end, they asked the manager for a gift pen for 10 rubles as a bonus, the manager and I even smiled at that moment. Okay, I won’t tell you more about them, otherwise I don’t want to spoil the impression of my story.

Has your insurance increased in price and by how much? So far the statistics for my friends are different - for some the price has increased, for others it has not.

Purchasing a car, especially a new one, is always a joyful event. And using credit funds, you can make such a purchase immediately, even without having the entire amount. Today banks offer quite interesting conditions and quite reasonable interest rates. In addition to interest, many lenders provide CASCO insurance for all types of vehicles pledged as collateral. Let's consider the conditions under which CASCO is offered for a credit car.

Providing such insurance is primarily beneficial for banks. The policy is mainly designed to avoid possible troubles associated with damage, destruction or theft of the pledged car.

Credit institutions try not to expose their funds to special risks, so refusal of insurance sometimes leads to refusal to issue a loan, although the law does not provide for the obligatory nature of this procedure. The main interest of the mortgagor is to preserve the pledged property in such a condition that will allow it to be sold if a certain situation arises. Thus, the bank will compensate for material damage if the payer of the loan is unable to return the funds.

To resolve such situations, it is obligatory for the borrower to register for CASCO insurance. Lenders only offer insurance from insurance companies that they are accredited with and that they fully trust.

The CASCO insurance period is 1 year. If the client does not have funds, the bank may offer to include the cost of CASCO in the amount of the loan issued, for a year or the full loan term. For this, banks usually increase the amount of the down payment.

How to apply for CASCO for a credit car

The CASCO registration procedure is very simple and includes several main steps. For your convenience, we suggest that you familiarize yourself with the insurance procedure.

Use the calculator	The first thing you have to do is use the convenient calculator on our insurance portal. To receive a calculation, be prepared to indicate: vehicle make and model year of issue mileage market value driver data: age and experience presence of an anti-theft system insurance period the region in which you want to receive a CASCO insurance form. Once all the necessary data has been entered correctly, you will need to click get a quote. The resulting calculation will indicate the program and amount of the insurance premium for each insurance company. All you need to do is carefully study the terms and conditions and submit an application for registration.
Send a request	It is worth noting right away that it will not be possible to apply for CASCO insurance in real time. All insurance companies issue the product exclusively in the office, after checking the full package of documents and inspecting the vehicle.
Make an appointment	As soon as an authorized employee of the insurance company receives your application, he will immediately call you and specify a convenient time and date for a visit to the office. Also during the conversation, the company specialist: will once again discuss the contract amount and insurance program will tell you the conditions will tell you what documents are needed
Prepare documents	When contacting the office of the insurance company, you must have a complete package of documents with you. As conducted, the list of documents in all companies is the same and includes: personal passport of the vehicle owner document for the car confirming ownership (PTS) driver's license for each participant collateral agreement, since the vehicle is purchased on credit contract for the purchase and installation of additional equipment If more than 3 years have passed since the vehicle was manufactured, the insurer may additionally request a diagnostic card form to ensure that the vehicle is in good condition.
Provide a car	The owner of a vehicle will be able to receive a form of a voluntary insurance contract only after an authorized employee has carried out an inspection. Please note that you must provide a clean car with a full set of keys for inspection.
Get a set of documents	The last thing left to do is to sign all the necessary forms and receipts, make payment and receive a set of documents in your hands. At the end of the visit, the car enthusiast should have: original CASCO policy check confirming payment of insurance premium vehicle inspection report, which records all existing damage insurance rules a memo that clearly states what needs to be done in the event of an insured event

As you can see, the voluntary insurance procedure is very simple and will take no more than 30 minutes. Thanks to the Internet, you can choose the insurance program you need and avoid additional services, as a result of which the cost of the product will be significantly increased.

Also, thanks to the electronic application, you will be able to remotely discuss all the conditions under the CASCO agreement and make an appointment at any time convenient for you.

How do the terms of a loan agreement change when taking out insurance?

The presence of such insurance makes it possible to obtain a loan on more favorable terms with a minimum package of documents and at a lower interest rate than without it.

Lenders with more lenient requirements may increase the down payment, interest rate, and the borrower's requirement to provide other additional costs. The package of documents confirming the client’s financial condition and his official employment is also being expanded.

The requirements of banks for car sellers are also very different. Some banks cooperate only with car dealers, others work with any car shops, subject to confirmation of complete diagnostics. The presence of such requirements involves additional financial costs, and it will take a lot of time to carry out such events.

Is it possible to reduce the insurance amount?

To save money, when applying for CASCO insurance, some car owners enter into an insurance contract with the condition of including a deductible.

The type of franchise can be expressed as a percentage of the contract amount, or as a fixed rate. This service allows you to reduce the cost of insurance, but if an insured event occurs, the deductible amount is deducted from the amount of each insurance claim.

Therefore, if there is a franchise, minor damage received as a result of an accident will have to be repaired by the driver at his own expense. This type of insurance is not accepted by all banks, so before concluding an agreement, you must check with the lender about the possibility of such insurance.

The insurance amount under the contract can be:

Many insurance companies allow payment of the insurance premium in installments, although for such a service there is the possibility of increasing it. Before purchasing insurance under these conditions, it is necessary to clarify whether such a financial institution is accepted.

Do I need to renew my insurance?

The answer to this question must be found in the loan agreement. As a rule, in the absence of a collateral insurance agreement, banks provide penalties in the form of increased interest rates or provide for the confiscation of the vehicle. There is also a risk of theft or the possibility of getting into an accident.

If it is not possible to restore the car, all responsibility for repaying the loan falls on the car owner. Insurance of collateral is carried out for the amount of debt on the loan, therefore the amount of insurance will decrease.

Often, an insurance contract is concluded with the possibility of its extension. In this case, it turns out to be quite economical. If you are no longer satisfied with the rates of your insurance company, and another one offers more favorable conditions, you can change it, if desired. Therefore, everyone makes the decision to renew their insurance themselves.

Why is CASCO for a credit car more expensive?

It is no secret that when calculating the cost, you can replace the fact that the cost of credit insurance is several times higher. What is the reason for this difference? Everything is very simple! It is no secret that insurance companies actively cooperate with insurers. As a result, they offer to issue the product directly in their office.

For their services, lenders receive an agency fee in the amount of 10-20% of the cost of the product. It turns out that the higher the cost of the insurance contract, the higher the income. That is why lenders are trying to add as many options as possible, which lead to an increase in the price of the product.