Motor Own Damage Insurance (Casco)
Who is it designed for
The owners of motor vehicles, within the meaning of the Law on road traffic, with plate registration numbers, issued in the Republic of Bulgaria.
Insurance cover
The insurer’s liability shall covers caused total loss or partial damage to a motor vehicles and/or additional equipment to them, as a result of occurred insurance events of the covered risks, according to the clause present in the insurance contract as follows:
Clause “A”: “Fire and natural disasters”
Mini Casco
Clause “B”: “Partial Casco”
Apart from the covered risks pursuant to clause “А”, the insurer shall pay for losses occurred as a result of collision of motor vehicles with one another or with other movable or immovable subjects.
Clause “C”: “Theft or robbery of the entire motor vehicle”
Apart from the covered risks pursuant to clause “А”, the insurer shall pay for losses arising as a result of: theft of the entire motor vehicle – unlawful seizure of the insured motor vehicle within the meaning of art. 194 and art. 195 of the Penal Code; robbery of the entire motor vehicle - unlawful seizure of the insured motor vehicle, through the use of force or threat within the meaning of art. 198 of Penal Code.
Clause “D”: “Full Casco"
Except for the covered risks pursuant to clauses “А”, “В” and “С”, the insurer shall pay for losses arising as a result of: malicious activities by third persons; damages on stolen and found motor vehicle; theft of windscreens through breaking; theft of additional stationary installed equipment in the coupe, provided there is additionally paid insurance premium; damages caused by intentional arson of motor vehicle; damages caused at a parking lot by other motor vehicle.
Territorial scope
This insurance shall cover damages, occurred on the territory of the Republic of Bulgaria and/or abroad.
Sum insured
The sum insured shall be set on the basis of the presented documents and the inspection of the vehicle. For newly acquired motor vehicles (up to 1 year from the date of manufacturing) the actual value shall be the price of the invoice, issued by the manufacturer or the official importer. For the rest motor vehicles, when an invoice is not available, the actual value shall be set as according to methods approved by the insurer on the basis of the catalogue “SUPER SCHWACKE”.
Insurance premium
The insurance premium shall be calculated by the insurer according to the current tariff rate. The premium could be paid in installments.
Conclusion and term of the insurance
The insurance contract shall be concluded on the grounds of a written question form approved by the insurer. An inspection of the vehicle should be done before the conclusion. The term of the insurance contract is up to 1 (one) year.
When is the insurance indemnity paid
Upon occurrence of an insurance event, covered according to the General Insurance Conditions, the insurer shall pay the indemnity to the insured person within 15 days after presenting all the documents necessary for the claim settlement.
