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CASCO

MOTOR TRANSPORT INSURANCE

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Vehicles are damaged for a number of reasons, especially:

- Road traffic accidents / collision (including with another vehicle),
- Rollover accidents,
- Crashing into a tree/wall,
- Car fire or explosion,
- Collision with other objects (for example, falling tree branches),
- Falling of various objects from the roof or windows of the building,
- Intentional damage to the car by criminals,
- Natural disasters (e.g. hail, strong winds, snow, or heavy rains/mudslides),
- Actions of animal (for example, the destruction of car parts by groups of dogs).


Most of the listed damages are not compensated by the CMTPL insurance policy. As you know, CMTPL only compensates for damage caused to third parties as a result of the use of motor vehicles, but the injuries to the guilty party's car are not subject to compensation. Damages other than traffic accidents in any circumstances are not covered in CMTPL contracts.

MAIN DIFFERENCES OF CMTPL AND CASCO

The table shows that CASCO compensates most of the possible damages to the car.

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The CASCO insurance contract is estimated for those vehicles, which:

  • are owned by individuals (or registered under the name of a legal entity, but used for personal purposes),

  • are manufactured up to 20 years ago,

  • are passenger cars,

  • are not pledged in any bank,

  • are for personal use only, i.e. they are not used for the delivery of goods, passenger or cargo transportation, training, or racing purposes, are not provided for rent, their use does not imply making a profit,

  • are mass-produced and are not included in the list of vehicles prohibited by the CASCO insurance calculator,

  • have no significant injuries or corroded parts.
     

Damages to the insured vehicle are subject to compensation if occurred as a result of one or more of the following accidents:

  • traffic accidents (rollover, collisions, etc.),

  • fire, explosion,

  • falling trees, poles, and other objects (also from stones thrown from under the wheels),

  • hail, flood, and other natural disasters,

  • illegal actions of third parties, including theft of parts,

  • actions of animals,

  • theft, robbery, and carjacking.
     

The insurance is valid for the entire duration of the contract in the territory of the Republic of Armenia, as well as 30 days a year around the world.
The insurance policy must be signed by the owner of the vehicle, who must be a natural person. The contract is signed for a period of 1 year.

 

The determination of the insurance premium takes into account a variety of factors, such as:

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  • market value of the vehicle,

  • drivers' driving history, age, and experience,

  • make and model of the car, etc.
     

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EXAMPLE OF INSURANCE PREMIUM CALCULATION

  • Insured Car — Toyota Corolla, production: 2019

  • Market Value —  13,000,000 AMD

  • Drivers — only the owner, 45 years old

  • Bonus-Malus class — 6

  • Insurance rate comes to about ~ 2.7%

  • Annual insurance premium = 13,000,000 x 2.7% = 351,000 AMD

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ADDITIONAL COVERAGES APPLICABLE

  • Voluntary Motor Liability Insurance (VMPTL)

  • Personal accident insurance for drivers and passengers

  • Car rental

  • Motor assistance

    • Mobile vulcanization

    • Fuel delivery

    • Sober driver service

    • Power supply regulation (battery charging),

    • Organizing technical inspection

    • Towing services

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In case of an accident, contact EFES immediately by calling 010 700 800, leave the car without moving it and wait for the instructions of our specialists. According to the instructions, there may be a need to involve the fire department or MES ( Ministry of Emergency Situations) employees.

 

OPTIONS FOR RECEIVING COMPENSATION

  • Renovation at best car service centers

  • Monetary compensation
     

REQUIRED DOCUMENTS FOR THE CONCLUSION OF THE CONTRACT

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  • Technical passport of the vehicle,

  • Driving licenses of the drivers,

  • Personal identitfication documents of the owner and authorized drivers.

THE CONTRACT CAN BE SIGNED:

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  • In-Person: Visit our office.

  • Appointment: Call 010 700 800 to schedule a meeting at a location convenient for you.

  • Online: Place an order through our social media platforms.

  • Live Chat: Reach out through our website's chat feature.

  • Email: Send a message to info@efes.am.


 

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