Car insurance includes several areas, each of which has its own characteristics:
- OSGO. Its peculiarity is to protect the victim in an accident through the fault of the policyholder. It means that if you cause any damage to the health or property of another traffic participant, as well as other objects (fence, stop, road sign, etc.) will be compensated by the insurance company. In this case, the expenses for repairs, restoration of your car, or your treatment are not covered by MTPL insurance.
- Complex insurance. This type of insurance can be insured instead of the MTPL. It is a kind of synthesis of MTPL and Casco – the policy provides compensation for damage caused by you on the same terms as the standard MTPL policy, as well as compensation for the damage caused to your car as a result of an accident.
Also, see the topic: https://junkcarsus.com/article/what-to-do-with-a-totaled-car-with-no-insurance
- “Green Card’. This type of insurance is a must for those who are planning to drive their own car abroad. This contract ensures your liability for damages in an accident (to a traffic participant, vehicle, object of urban infrastructure, etc.) during your stay abroad. That is, the insurance company undertakes to compensate for the damage caused by you to the injured party.
- CASCO. In turn, JunkCarsUs notes that this is one of the most popular types of insurance for the car, as the policy provides a variety of options to protect the car. You can select the most convenient conditions for the car owner under a Casco contract: the duration of the insurance, the number of cars accepted for insurance in one contract, the territory of the policy, the periodicity of payment, and so on. Moreover, insurance coverage may cover traffic accidents (and, unlike MTPL, the company covers car repair expenses irrespective of the fact whether the accident was caused by a car theft or by a third party), and other unpredictable situations: theft, damage caused by natural disasters, illegal acts of third parties, or engineering accidents (water main breakdown, bridge collapse, and other).
- When choosing a particular type of insurance, it is important to carefully read all the provisions of the contract and learn what events are considered insurable and what is not, what actions should be taken in case of an accident, and other relevant conditions.
How to arrange car insurance
To obtain an insurance policy, you will need the following documents:
- Certificate of state registration of the vehicle;
- Document certifying the right to own the vehicle (own, rented, official, etc.);
- Personal identity document (when executing the contract by an individual);
- If necessary – documents certifying the right to carry on business activities with the participation of the vehicle for which insurance is arranged.
Less bureaucratic delays
- In some cases, you can apply for an insurance payout without the necessity to provide documents of competent authorities (traffic police):
- In case of a one-sided accident or accident with damage to the vehicle, provided no more than two applications during the term of the insurance contract, and with restrictions on the amount (no more than 5% of the insurance amount, and no more than $3000).
- Unlimited coverage limits in case of damage to the vehicle glazing by stones or other objects flying out from under the wheels of the vehicle in front.