Car insurance: pros and cons

Today in our country there are several types of motor third party liability insurance. It is carried out in a mandatory and voluntary form. If every motorist must have a compulsory insurance policy, then voluntary insurance policies are purchased by drivers at will. That is why, when considering the positive and negative aspects of car insurance, you should pay attention to the two most common forms of car insurance, namely, CTP and CASCO.

Pros and cons of OSAGO

By law, every car owner must insure his vehicle in case of an accident or other unforeseen situation. The absence of a CTP insurance policy is a violation and entails penalties. Therefore, even if the insurance policy increases in price, motorists will still have to buy it.

The main plus of CTP insurance is that if you are involved in a traffic accident and are not the culprit, the insurance will allow you to receive certain insurance payments. In this case, with a high degree of probability, you will receive this money in a fairly short time.

Casco and OSAGO

Moreover, in case of delay in payments, the insurance company will be obliged to pay you a penalty in the amount of several percent of the amount due to you for each day of delay.

The disadvantages of this type of insurance include the fact that if you own an expensive car, then the limit of insurance payments will not be enough to compensate you in case of serious damage as a result of a traffic accident.

A fairly significant minus can be attributed to the fact that OSAGO has almost doubled in value and there is information that OSAGO will rise in price more. And if drivers with a long experience and a good bonus-malus coefficient can somehow save, then novice drivers pay for compulsory motor liability insurance in full. But there are positive aspects to this increase in value, since the limit of insurance payments has also been increased to 500 thousand rubles.

Pros and cons of hull insurance

Casco and OSAGO

The situation with voluntary car insurance is somewhat simpler. By choosing this insurance option, car owners get a slightly higher level of protection. The fact is that car owners receive CASCO payments in any case, even if they are the culprit of a traffic accident. Many insurance companies providing CASCO insurance services cooperate with car repair shops, which allows quick repair of the damaged car. However, the prices for such insurance are quite high, so each car owner can personally compare all the pros and cons of this type of insurance. Most often, owners of expensive cars resort to this type of insurance.

Often, novice car owners have a negative attitude to the possibility of voluntary insurance, while, according to statistics, it is novice motorists who often get into accidents. However, after the first accident, the attitude of car owners towards CASCO usually changes exactly the opposite. Especially often, such a change of mood occurs in the case of a road with a car, the cost of repair of which, as a rule, exceeds the limit of payments for compulsory motor liability insurance.

Due to the fact that CASCO insurance is a fairly responsible and expensive enterprise, it is necessary to carefully approach the process of choosing an insurance company, since today there are a fairly large number of companies of different sizes and quality. Therefore, it is worth examining the rating of insurance companies and contacting only the most reliable of them.

In order to completely protect yourself from various kinds of troubles, it is recommended to insure not only your car, but also your health. Insurance is a serious and necessary business, so you should not approach this issue too lightly.