MOTOR OWN DAMAGE CAR INSURANCE- CASCO

MOTOR OWN DAMAGE (CASCO) INSURANCE

WHO IS THE INSURANCE INTENDED FOR?

Motor Casco is intended for individuals and/or legal entities owners of motor vehicles, including construction and road construction machinery (motor machinery) with their own engine, trailers and semi-trailers, agricultural and forest machinery, all of them being with Bulgarian plate numbers and usual domicile in the Republic of Bulgaria.

Usually covered risks

It covers the following risks:

Fire and explosion

Natural disasters – damages caused by earthquake, storm, hurricane, hit to motor vehicles by objects blown off by storm or hurricane, thunder, lightning,  hails, flood, heavy rain, volcanic activity, accumulation and sliding of snow or ice, impact of sea waves, sliding or collapse of earth masses, object falling on motor vehicles as a result of the above natural disasters

Failure of installations – damages caused by failure of water pipe, sewage, gas pipe and steam pipe installations (that are not part of motor vehicles) – significant failure (bursting, smashing, cracking or breaking) of the respective installation thus disturbing its normal operation;

Damages due to a car accident

Damages caused to the motor vehicle during a stop

Damages caused to the motor vehicle while being parked

Damages as a result of sudden opening of a motor vehicle bonnet or door

Willful actions of third persons – damages caused to the motor vehicle by third persons through mechanic impact (hit with an object, scratching, deliberate turnover of motor vehicle, etc.), pouring chemically active substances (acids, bases, etc.), arson and explosion.

Theft of the whole motor vehicle;

Robbery of the whole motor vehicle;

Damages of a motor vehicle found after a theft or robbery;

Burglary of audio equipment, GPS and other devices permanently installed in the mother vehicle – audio, radio, GPS and other similar equipment with a unit price of up to usually 5% -10% of the insurance amount of the motor vehicle;

HOW IS THE INSURANCE COMPENSATION DEFINED?

Upon occurrence of insurance events, the Insurer applies varied compensation methods, and namely:

In case of partial damage of a motor vehicle for which up to 3 /three/ years have passed from the date of first registration to the beginning of the insurance, the insurance compensation is defined in one of the following ways chosen by the insured person:

on the basis of submitted original invoices of a car repairs station in the Republic of Bulgaria authorized by the manufacturer of the respective brand issued on the grounds of an authorization letter by the Insurer, and the insurance compensation is paid to the authorized car repairs station;

on the basis of submitted invoices of another car repairs station at prices not higher than those of the official importer/ authorized car repair station agreed with the Insurer;

repairs of the damages in a “trusted” car repairs station designated by the Insurer, and the insurance compensation is paid to the respective car repairs station;

on the basis of expert evaluation.

In case of partial damage of a motor vehicle for which 3 to 5 years have passed from the date of first registration to the beginning of the insurance, the insurance compensation is defined in one of the following ways chosen by the insured person:

on the basis of submitted original invoices of a car repairs station in the Republic of Bulgaria authorized by the manufacturer of the respective brand issued on the grounds of an authorization letter by the Insurer, provided the minimum premium fixed by the Insurer has been paid upon making the insurance.

on the basis of submitted invoices of another car repairs station upon explicit written consent of the Insurer and upon observance of its limit values of service hour and quantity and price of painting materials;

repairs of the damages in a “trusted” car repairs station designated by the Insurer, and the insurance compensation is paid to the respective car repairs station. During the repairs of the motor vehicle, any damaged parts are replaced with parts of alternative manufacturer or with second hand parts, and if supply is not possible – with parts of the official importer, or compensated on the basis of expert evaluation;

on the basis of expert evaluation;

In case of partial damage of a motor vehicle for which 5 to 10 years have passed from the date of first registration to the beginning of the insurance, the insurance compensation is defined in one of the following ways chosen by the insured person:

repairs of the damages in a “trusted” car repairs station designated by the insurer, and the insurance compensation is paid to the respective car repairs station, provided the minimum premium fixed by the Insurer has been paid upon making the insurance. During the repairs of the motor vehicle, any damaged parts are replaced with parts of alternative manufacturer or with second hand parts, and if supply is not possible – with parts of the official importer, or compensated on the basis of expert evaluation;

on the basis of submitted invoices of another car repairs station upon explicit written consent of the Insurer, provided the minimum premium fixed by the Insurer has been paid upon making the insurance, and upon observance of its limit values of service hour and quantity and price of painting materials;

on the basis of expert evaluation;

In case of partial damage of a motor vehicle for which more than 10 years have passed from the date of first registration to the beginning of the insurance, the insurance compensation is defined in one of the following ways chosen by the insured person:

repairs of the damages in a “trusted” car repairs station designated by the Insurer, provided the minimum premium fixed by the Insurer has been paid upon making the insurance. The insurance compensation is paid to the respective car repairs station. During the repairs of the motor vehicle, any damaged parts are replaced with parts of alternative manufacturer or with second hand parts;

on the basis of expert evaluation.

WHAT KIND OF ACTIONS SHOULD I UNDERTAKE UPON OCCURRENCE OF INSURANCE EVENT?

Upon occurrence of insurance event you are obliged:

to immediately inform all competent authorities, depending on the type of the insurance event (Ministry of Interior, fire safety and civil protection authorities and/or other).

to inform the Insurer by calling the 24 hours assistance phone or in writing by fax or e-mail as set out in the policy, and to explain the circumstances in relation to the occurrence of the event.

if possible, to inform the Insurer A.S.P. of becoming aware of occurred theft or robbery of the motor vehicle – personally or through your representative, by calling the 24 hours hot line of the Insurer (including on holidays) as set out in the insurance policy. The insured person is obliged to inform the Insurer in writing usually within 24 hours of becoming aware of the theft or robbery of the motor vehicle, by submitting a written notice to the closest office of the Insurer.

to inform the Insurer within three business days of becoming aware of other insurance events – personally or through your representative, by submitting a written notice.

to provide the insured motor vehicle and the required assistance to the Insurer for the inspection and description of the damages as well as for any additional or follow-up inspection.

to submit the documents requested by the Insurer for proving the event and identifying the amount of damages.