CASCO insurance policy for a motorcycle

Motorcyclists, in accordance with current legislation, are considered road users and are subject to the rules of compulsory civil liability insurance. However, as statistics show, drivers of this type of transport are much more likely to become victims of accidents than to cause them. In addition, choppers are easy prey for criminals, since the equipment can be easily carried away by two strong men, then disassembled and sold for spare parts. Based on this, purchasing CASCO for a motorcycle is a necessary necessity, allowing you to compensate for possible damage.

Requirements and conditions for motor insurance

Initially, it should be noted that most companies categorically do not want to get involved with motorcycle insurance under CASCO. The reason lies in the vulnerability of bikers on the road, the high rate of theft and expensive repairs of exclusive models. In the domestic market, only a few companies are willing to take on the risk of insuring a motorcycle against theft and accident.

Most insurers establish the following rules for selling a policy:

• tariff - 20-25% of the vehicle price;
• unconditional franchise - at least 20-50 thousand rubles;
• engine volume - no more than 0.3 l (mopeds have a maximum of 0.05 l);
• year of release - 2017-2020;
• driver's age - at least 25 years;
• driving experience - 5 years or more;
• parking - garage with alarm or guarded area;
• The policy period is April-October.

Note! You can get more favorable conditions when concluding a CASCO agreement. To do this, you need to purchase additional packages of services, such as life, health, real estate insurance and other products, with the implementation of which the insurance company has problems.

What are the conditions for CASCO insurance in different companies?

Despite the fact that the basic tariff rates are set by the Central Bank, each insurance company can operate within a certain range. In addition, the peculiarity of CASCO insurance is that insurance companies can put forward different restrictions and requirements. And then a comparison of insurance conditions from different insurance companies of the Russian Federation.

What risks and insured events are covered by CASCO for a motorcycle?

Typically, bikers insure their motorcycle against the following risks:

• hijacking;
• theft;
• damage in an accident;
• collision with animals;
• hooligan actions of third parties;
• damage from falling solid objects (trees, hail, building materials);
• damage from natural disasters (floods, earthquakes, hurricanes, tornadoes) and man-made disasters;
• total loss of the vehicle;
• harm to the driver's health.

Related article: How CASCO works for Yandex.Drive

Note! Insured events do not cover atomic explosions, wars, civil unrest and radioactive contamination of the facility.

How to calculate the cost of a CASCO policy

To calculate CASCO insurance for a motorcycle for 2020 using an electronic calculator, you need to go to the website of the company or broker, find the appropriate section and register in the program.

Then you should enter the following data:

• vehicle make;
• model;
• year of issue;
• engine power;
• purchase price;
• Transmission;
• number of drivers indicating their passport details and length of service;
• region of operation of the motorcycle;
• duration of the policy;
• franchise size.

After this, you need to click the “send” button and wait for the result. It should be taken into account that programs are constantly updated, additional conditions and modifications are introduced into them. You need to be prepared for the fact that the insurer may require additional information.

Please note that if CASCO insurance for a motorcycle in 2021 is calculated using a calculator on the website of an independent broker, then clients will have access to a database of insurance companies carrying out this activity. This will make it possible to find out how much CASCO for a motorcycle costs in different regions of the Russian Federation and find more profitable and affordable options for purchasing a policy.

How to properly apply for CASCO insurance for a motorcycle

The CASCO insurance policy calculator for a motorcycle for 2019-2020 allows you to calculate the estimated cost only technically. There are also subjective factors based on the reluctance of companies to get involved with this category of vehicles. Therefore, you need to come to the office in person and be prepared for complex and lengthy negotiations, concessions and compromises.

If everything goes well, then an agreement is drawn up with the following content:

1. Parties to the agreement.
2. Object of protection (make, model, license plate number).
3. List of risks.
4. Insurance premium amount.
5. Payment amount.
6. Franchise size.
7. Contract time. The period for which the payment guarantee applies.
8. Rights and obligations of the parties.
9. Other conditions.

Article on the topic: How to receive payment in the event of an insured event under CASCO

Note! The insurer may impose a condition to install a modern alarm system on the bike, a tracking satellite navigator, and buy a VHI policy. You should agree, because otherwise achieving your goal will be problematic or impossible. You just need to compare how much CASCO costs for a motorcycle, the cost of additional options and the price of the vehicle.

What documents are needed

To conclude an agreement and obtain a CASCO policy, the motorcyclist must provide the agent with the following package of documents:

• identification;
• technical certificate;
• registration certificate;
• certificate of ownership;
• purchase agreement, gift agreement, will;
• previously purchased policy (if any);
• MTPL agreement (current);
• documents for alarm, anti-theft system and other certificates;
• driver's licenses of persons who will be allowed to drive;
• statement.

After checking the provided papers, a company representative inspects the vehicle and draws up a report indicating the estimated cost of the equipment.

Important! The policyholder must provide only reliable information. Forgery of documents and deception of the insurer are grounds for cancellation of the contract and refusal to pay.

How to write an application

There is no universal and legalized application form. To obtain CASCO insurance for a motorcycle, such large companies as Ingosstrakh, Rosgosstrakh, Soglasie, RESO have developed their own forms, which are filled out directly in the office.

There are mandatory items that are prescribed in the application

• to whom (if the form does not indicate the name of the insurance company and its head);
• from whom (full name, postal address, telephone numbers);
• information about the vehicle (make, model, production date, license plate number);
• cost of the motorcycle upon purchase;
• the presence of an alarm and anti-theft system;
• insurance period;
• date of entry into force of the agreement;
• insurance risks;
• regions of use of the bike;
• method of receiving compensation;
• list of persons admitted to management;
• franchise size;
• Additional Information;
• list of applications;
• date, signature, surname.

In most cases, consideration of an application is a purely formality if the details of cooperation have been previously agreed upon with the agent.

Related article: Using a CASCO policy if your car is scratched

What documents are needed to obtain insurance?

The insurance company requires the vehicle owner to provide documents, namely:

• passports;
• tax identification number;
• technical passport of the vehicle;
• driver's licenses of persons who are allowed to drive a motorcycle.

It will also be necessary to show the insurers the vehicle, which will be inspected for damage and breakdowns, which will enable insurance specialists, when the vehicle owner applies for payment, not to include previously discovered breakdowns in the overall percentage of compensation.

What is needed to receive payment

A motorcyclist can calculate the approximate amount of compensation under CASCO for a damaged, stolen or destroyed chopper using an online calculator on the website of a broker or company.

To receive compensation in the event of an insured event, the vehicle owner must perform the following actions:

1. In the event of an accident, take measures to provide assistance to the victims, record the accident without creating interference for other road users.
2. Correctly document the events at the scene. If there is evidence of a crime, call law enforcement officials.
3. Inform the insurer about the circumstances that occurred and their consequences.
4. Collect a package of documents necessary to obtain a complete picture of the insured event.
5. No later than 5 days from the date of the incident, submit an application to the Investigative Committee and present the vehicle or its remains for inspection.
6. Wait for the results of the examination. Receive payment or referral for repairs.

The following documents are submitted to the insurance company:

• application (sample);
• CASCO policy;
• contract;
• receipt of payment under the agreement;
• identification;
• vehicle registration certificate;
• documents from the scene of the event (protocols, acts, surveys);
• a statement of theft and a resolution to initiate a case.

If there are no complications with the documents and circumstances of the incident, then compensation for damage is carried out within 20 days from the date of application. This can be done in cash or by carrying out repairs at a service station.

Important! The contract on the part of the insurance company is considered completed if the vehicle owner has received payments confirmed by paper or electronic receipts, the motorcycle has been repaired, and the owner has no claims, as evidenced by his signature on the work completion certificate.

What to do if a company denies CASCO insurance?

Refusal to sell a CASCO policy to motorcyclists is quite common, as companies do not want to get involved in such a risky business. The reason may be the age of the equipment, the high percentage of thefts in the region, careless and risky driving associated with fines and the driver getting into an accident.

Options for solving the problem with refusal may be as follows:

• provision of an agreement for storing vehicles in a guarded parking lot;
• high bonus-malus ratio;
• increasing the franchise amount;
• purchase of additional policies.

If this does not help, then you should contact the consumer protection authority, and then the court.

Thus, buying CASCO for a motorcycle is not an easy matter, but it is promising. Even large expenses on unfavorable terms cannot be compared with the cost of the vehicle.

Features of the MOTOCASCO policy

And although the insurance market has a number of restrictions for motorcyclists, in practice, drivers find acceptable offers and purchase an insurance policy. Do not forget that the insurance company does not have the right not to sell the service. In this case, you can always file a complaint with the RSA or the Bank of Russia.

Let’s say there is a policy in the list of services, below is a list of insurance events against which it is possible to insure a motorcycle:

• traffic accident;
• motorcycle theft;
• vehicle theft;
• illegal illegal actions of subjects in relation to a motorcycle;
• the impact of natural forces, natural disasters;
• other emergency events. This could be a fire, a blow, etc.

There are insurance policies that include all of these risks at once. There is CASCO with a limited list of insurance events. This needs to be read carefully. The more risks provided for in the contract, the higher its price. In total, a CASCO motorcycle insurance policy is 60-80% more expensive than regular insurance. Comprehensive vehicle insurance can reach 20-25% of the estimated value of the motorcycle. And this is the main reason why most owners refuse CASCO insurance. Of course, it's not cheap, but you need to assess the risks.

If the refusal is received and contacting another insurance company does not help, then only going to court can help. But there are many subtleties here. If the insurance company, according to its internal regulations, sets fixed requirements for the motorcycle, then you can lose the case.