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CASCO



1. 
What is CASCO insurance?

CASCO optional insurance of transport means is a comprehensive insurance of vehicles against damage, theft and natural disasters. 

2. What vehicles can be insured?

Only cars of maximum 9 years old registered in Moldova on a temporary or permanent basis, as well as other transport means of maximum 12 years old. 

3. What are the main insured risks?

  • Traffic accidents, including when vehicles overturn, collide with movable or immovable objects (buildings, obstacles, animals); 
  • Fire, fire extinguishment, explosion of insured vehicles;
  • Natural disasters (thunder stroke, heavy rain, hail, floods, storm, earthquake, landslide, heavy snow, snow avalanche); 
  • Objects falling on or crashing into the insured vehicle;
  • Illicit deeds by third parties (except theft of vehicles and spare parts of the insured vehicle)
4.  In what circumstances does MOLDASIG SA have the right to deny the indemnity?
  • The accident took place as the driver was driving under the influence of alcohol or drugs;

  • The person who caused the accident had no driver’s license of appropriate category or his/her driver’s license had been revoked;

  • The registration certificate and/or the second key to the vehicle where in the stolen vehicle;

  • The person who caused the accident ran away from the spot of the accident;

  • The registration certificate was no longer valid during the accident;

  • The wheels were deteriorated (discs and/or tires) while other spare parts  of the vehicle are in good order, etc. 

5. What is the amount of the indemnity?

Motor vehicles are insured at the value they were purchased for (“as new”). Subsequently, every year the value of the wear is deduced from that value to obtain the real, actual value of the motor vehicle. 

6. What primary documents are needed to enter into the insurance agreement?

  • The vehicle owner’s driver’s license;

  • The driver’s licenses of people to use the vehicle (if applicable);

  • The registration certificate of the vehicle;

  • Proxy or other acts provided for by legislation.
7. How is the insurance premium calculated?

The premium depends on a range of factors:
  • Age of vehicle

  • Coverage area, number and driving experience of people allowed to drive;

  • Purpose of use

  • Insurance period

  • Vehicle category, etc. 
8. What should you do when an insured case arises and what documents should be submitted to get the indemnity?
  • To inform about the occurrence of the case (902) the National Patrol Inspectorate if there was a traffic accident, the State Weather Forecast Institute in case of natural disasters, the firefighting and rescuing service in case of fire, and to make sure that all related documents are collected.

  • To notify in writing the Insurer about the accident after it occurred, but not later than 24 hours in case of theft and 72 hours in case of other damages inflicted to motor vehicle.  

  • To submit the deteriorated goods to have the damage assessed.

  • To submit documents and evidence to the Insurer to determine the causes and circumstances of the accident, the amount of the damage, as well as to recognize the right to restitution:
    • Identity paper;

    • Registration certificate;

    • Driver’s license;

    • Official report by the competent bodies, ascertaining the occurrence of the accident; 

    • Proxy or other acts provided for by legislation.