How to choose a policy
Posted: Wed Feb 19, 2025 3:45 am
This type of insurance is not regulated by the Central Bank of the Russian Federation, and therefore insurance companies themselves determine the cost for different cars. Therefore, it is important to look for an insurer with a good reputation and not very high insurance costs.
The main thing you shouldn't do is let the bank choose an insurance company for you. Banks have partnership agreements with insurers, so they will primarily offer you their partners. They may have really good conditions, but it's still worth checking it out yourself.
Approximate instructions for choosing an insurance company:
Find out what insurance requirements the bank has. Most often, they ask to insure the car against theft and damage. You can contact different banks, clarify their requirements and interest rates. Choose an guangdong mobile number database organization that offers the most favorable conditions. If you want to include the cost of insurance in the loan amount, clarify this point. It is possible that some banks have this option only when insuring with partners.
If you need extended insurance, make your own list of insured events.
Choose trusted insurers - check their reputation, read customer reviews.
Contact your insurers to find out their prices for your list of insurance claims.
Submit an application to the bank and wait for approval.
Invite the insurer to sign the contract.
Is it possible to refuse CASCO when taking out a car loan?
It all depends on the specific bank. Some programs allow you to get a loan without insurance, while others require comprehensive insurance.
If you refuse insurance, you may face two unpleasant consequences:
first - refusal of the application. Only borrowers with a good credit history and a high income level can count on large loans without full collateral. If you have little experience in lending, high indebtedness, frequent delays in the past, it will be difficult to get approval;
the second is a high interest rate. You can get a percentage that is no different from non-targeted consumer credit programs. But your car will remain the property of the bank until the debt is fully repaid.
If you plan to insure your car, a car loan is a great option because it allows you to get a favorable interest rate. But if you think you can do without insurance, you should consider alternatives.
Alternative to a car loan
A targeted loan for the purchase of a car has three key advantages:
lower interest rate than for non-earmarked loans;
longer loan term - up to 10 years;
higher likelihood of approval than unsecured programs.
However, car loans have a number of significant disadvantages.
The main thing you shouldn't do is let the bank choose an insurance company for you. Banks have partnership agreements with insurers, so they will primarily offer you their partners. They may have really good conditions, but it's still worth checking it out yourself.
Approximate instructions for choosing an insurance company:
Find out what insurance requirements the bank has. Most often, they ask to insure the car against theft and damage. You can contact different banks, clarify their requirements and interest rates. Choose an guangdong mobile number database organization that offers the most favorable conditions. If you want to include the cost of insurance in the loan amount, clarify this point. It is possible that some banks have this option only when insuring with partners.
If you need extended insurance, make your own list of insured events.
Choose trusted insurers - check their reputation, read customer reviews.
Contact your insurers to find out their prices for your list of insurance claims.
Submit an application to the bank and wait for approval.
Invite the insurer to sign the contract.
Is it possible to refuse CASCO when taking out a car loan?
It all depends on the specific bank. Some programs allow you to get a loan without insurance, while others require comprehensive insurance.
If you refuse insurance, you may face two unpleasant consequences:
first - refusal of the application. Only borrowers with a good credit history and a high income level can count on large loans without full collateral. If you have little experience in lending, high indebtedness, frequent delays in the past, it will be difficult to get approval;
the second is a high interest rate. You can get a percentage that is no different from non-targeted consumer credit programs. But your car will remain the property of the bank until the debt is fully repaid.
If you plan to insure your car, a car loan is a great option because it allows you to get a favorable interest rate. But if you think you can do without insurance, you should consider alternatives.
Alternative to a car loan
A targeted loan for the purchase of a car has three key advantages:
lower interest rate than for non-earmarked loans;
longer loan term - up to 10 years;
higher likelihood of approval than unsecured programs.
However, car loans have a number of significant disadvantages.