Car insurance is an important necessity for any vehicle owner, providing financial protection in the event of unforeseen incidents. The authorities have extended the price capping for RCA policies until the end of 2024. We will share new information on the topic as it becomes available. In this article, we will explore what is covered by the car insurance policies, how the premium is calculated, available additional options, and the claims management process.
What Does Car Insurance Cover?
Car insurance is divided into two main categories: mandatory civil liability insurance (RCA) and optional insurance policies, such as CASCO.
RCA insurance is mandatory in Romania and provides financial protection in case the driver causes a traffic accident involving other vehicles or people. It covers the material damage and bodily injury suffered by the victims (other vehicles, pedestrians, or passengers). It does not cover the damage to the insured vehicle.
CASCO insurance, on the other hand, is an optional insurance that covers damage to your own vehicle, regardless of who was at fault for the accident. It can include damage caused by traffic accidents, theft, fire, natural disasters, or acts of vandalism.
In addition to the coverage provided by RCA and CASCO, car insurance policies may include additional options that extend protection, such as insurance for goods transported by a vehicle. You can also opt for roadside assistance insurance.
How Is the Insurance Premium Calculated?
The insurance premium is the amount a driver must pay to benefit from the protection offered by car insurance. It varies based on several factors and each insurer evaluates the risk factors on their own.
RCA Insurance Premium
The list of criteria for establishing the RCA insurance premium is complex and varies depending on the insurer. However, there are some common factors for each insurer, and these include (note that the list below is not exhaustive):
- claims history
- vehicle power
- vehicle make and model
- age of the driver
- place of residence
Additionally, each insurer uses its own pricing policies, so it is important to compare several offers to find the best option. A useful tool for this is the RCA calculator, which allows you to quickly obtain an estimate of the insurance premium after completing a form with the necessary policy details. At Destine Broker, you can choose to pay for car insurance in installments.
CASCO Insurance Premium
The price of CASCO insurance is influenced by a series of factors related to the specifications of the car, the owner’s data, demographic information, and the risks covered by the policy. Usually, the insurance premium can be paid in full or in installments.
The price is not a standard; it is calculated based on the characteristics of each vehicle. Here are the main factors that influence the cost of a CASCO policy:
- type and technical specifications of the car
- vehicle mileage
- approximate distance traveled annually
- your history as a driver and vehicle owner (including involvement in accidents or events that led to material damage).
These factors can significantly affect the insurance premium. In the case of CASCO, the premium is also related to the types of CASCO coverage offered by insurers and the coverage provided by each policy.
Additional Options for Car Insurance
In addition to basic insurance policies, many companies offer additional options that can extend your protection. These are particularly useful for those who want comprehensive insurance that covers a wider range of risks.
One of the additional options available is roadside assistance insurance through Pointer Systems. Services offered by Pointer Systems include towing and car recovery, client accommodation, parking, and replacement vehicles. Pointer Systems also provides innovative solutions for vehicle protection.
For more details about the options available through Pointer Systems, we recommend contacting an insurance broker from Destine Broker for a personalized offer and more information about products and services.
Additionally, supplementary options can include insurance for cargo protection, insurance for damages caused by natural disasters (storms, floods, falling trees), and options that cover damage caused by acts of vandalism.
The Claims Process
When an accident occurs, the claims process may vary depending on the type of insurance you have. In case of an accident, it is important to follow the correct steps to ensure that you will receive appropriate compensation.
- Report the accident: First, you must notify the authorities (if there are victims) and complete a report or a mutual accident report, which will be necessary for processing the claim.
- Damage assessment: In certain cases, the insurer will send an expert to assess the vehicle’s damage, and, depending on the type of insurance (RCA or CASCO), they will determine who will be responsible for paying the damages.
- Compensation payment: If the accident is covered by the RCA policy, the insurer of the person who caused the accident will cover the damage to the other vehicle or the victims. In the case of a CASCO policy, the insurer will cover the damage caused to your own vehicle, depending on the specific conditions of the policy.
The mobile application Daune.Expert is a useful resource that can accelerate the claims recovery process. Additionally, you will receive assistance throughout the entire process.
Car insurance is essential for protecting yourself and your vehicle against unforeseen events. RCA insurance is mandatory, but additional options, such as CASCO insurance and roadside assistance insurance, offer extra protection. It is also important to understand how the insurance premium is calculated and which factors influence this calculation.