Refused under Casco? Insufficient compensation under Casco? Do I need an insurance law attorney? Can I consult a lawyer in Sofia or a lawyer in Plovdiv? We discuss these and other questions in detail in our article.
Lawyer Sofia – Sofia, Positano Square No. 3
Lawyer Plovdiv – Plovdiv, Tsar Boris III Blvd. No. 128
Phone: 0886 72 72 27
Casco insurance is a voluntary insurance that covers damages resulting from various risks such as theft, fire, natural disasters, vandalism, traffic accidents, and more. It is important to note that Casco insurance is voluntary, and coverage may vary depending on the insurance company and the specific policy terms.
What does Casco insurance cover?
Casco insurance coverage may include, but is not limited to, the following:
- Traffic accident damages: Covers damages resulting from collisions with other vehicles, obstacles, or road conditions.
- Theft of the vehicle: In case of theft, the insurer pays the value of the vehicle.
- Natural disaster damages: Covers damages caused by natural phenomena such as floods, storms, hail, and earthquakes.
- Fire and explosion: Covers damages resulting from fire or explosion.
- Vandalism: Covers damages caused by intentional acts of vandalism to the vehicle by third parties.
How is compensation determined?
Compensation under Casco insurance is determined based on various factors, which may include:
- Vehicle value: The market value of the vehicle at the time of the insurance event is a key factor in determining the compensation amount.
- Vehicle damages: The type and extent of the damages are decisive for the compensation amount. The insurer may require an inspection and damage assessment by specialists.
- Policy terms: The terms and coverage agreed upon in the policy also influence the compensation amount.
- Depreciation: Some insurers may take vehicle depreciation into account when determining compensation.
Options for damage remediation:
- By expert assessment – After an inspection, the insurer calculates and determines the due compensation, which is paid to the insured.
- Repair assignment in a service center – The insurer issues an assignment letter allowing the insured to visit an authorized service center where the damages are repaired.
Possibilities for Casco claim denial by the insurer
Insurers may refuse to pay compensation under Casco insurance in certain cases. Here are some common reasons for claim denial:
- Incorrectly completed documents: If the documents for the insurance event are not properly completed or submitted on time, the insurer may refuse compensation.
- Violation of policy terms: If you violate the policy terms, such as driving under the influence of alcohol or drugs, the insurer may deny payment.
- Intentional damages: If the damages to the vehicle are caused intentionally by you or a party acting with your knowledge, the insurer will not pay compensation.
- Policy exclusions: Every insurance policy includes a list of exclusions where the insurer is not responsible for paying compensation, such as theft through fraud or abuse of trust.
How to protect your rights in case of Casco claim denial?
If the insurer refuses to pay compensation under Casco insurance or the paid compensation is insufficient to cover damages, it is important to know how to protect your rights. Here are some steps you can take:
- Review your policy: Ensure you are familiar with all terms and exclusions in the insurance policy. Check if the denial aligns with the agreed terms.
- Gather evidence: Collect all necessary documents and evidence supporting your case. This may include photos, witness statements, police reports, and other relevant materials.
- Consult an insurance law attorney: Seek legal assistance from an insurance law attorney who can analyze the case and prepare the necessary documents for appealing the denial or filing a lawsuit.
- File a complaint: If you believe the denial is unjustified, file a complaint with the insurer. Detail the facts and arguments supporting your claim.
- File a lawsuit against the insurer: If the insurer does not resolve your complaint, the only way to resolve the dispute is to hire an attorney to file a lawsuit against the insurer.
Our practice in such cases is extremely extensive; we have many years of experience and excellent results. We prioritize personal attention to the client, ensuring professional assistance and support in these challenging times. We believe that assistance from a good lawyer in traffic accidents is essential for anyone facing such a situation.
For more information on the topic, you can read HERE
Do not hesitate to contact us:
+359 886 72 27 72
Lawyer Sofia – Sofia, Positano Square No. 3
Lawyer Plovdiv – Plovdiv, Tsar Boris III Blvd. No. 128
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