OSAGO – abbreviation which means “compulsory motor liability insurance”, is a prerequisite for operating any car, registered in Russia. This is insurance, which compensates for losses, damage to life, health or property of other road users as a result of an accident, in which the policyholder or his driver participated. In this article, we will look at, how it works OSAGO, what types of insurance are there, how to choose and buy a policy, and how to receive insurance compensation. 
How does OSAGO work??
OSAGO – this is insurance, which protects you from financial risks in the event of an accident. If you caused an accident, your insurance company will compensate for the damage to the victims within the established limits. If you were injured in an accident, You can apply for compensation from the culprit’s insurance company. In both cases you will need to provide documents, confirming the fact and circumstances of the accident, as well as the amount of damage.
note! OSAGO does not cover damage, applied to your vehicle, as well as your personal expenses for treatment or rehabilitation. To do this, you need to take out additional insurance., eg, CASCO or DSAGO.
What types of insurance are there??
In addition to OSAGO, There are other types of insurance, which may be useful for car owners. Here are some of them:
- CASCO – voluntary insurance, which covers damage, damaged to your vehicle as a result of an accident, theft, hijacking, fire, vandalism and other risks. Allows you to restore your vehicle at the expense of the insurance company, no matter, who caused the accident. May also include evacuation services, technical assistance, replacement vehicle rental and others. The cost of CASCO depends on many factors, such as brand, model, year of issue, power, vehicle cost, as well as selected risks, franchise, term and amount of insurance.
- DSAGO – voluntary insurance, which allows you to increase your liability limit under OSAGO. This may be useful, if you collided with an expensive vehicle or caused serious harm to the health of victims. In this case, compulsory motor liability insurance may not be enough to fully compensate for the damage., and you will be required to pay the difference out of pocket. DSAGO allows you to avoid this, since the insurance company will additionally pay the victims within the amount of insurance you have chosen. The cost of DSAGO depends on the amount and period of insurance, and also from the same factors, same as OSAGO.
- Driver and Passenger Insurance – this is voluntary insurance, which covers your personal expenses for treatment or rehabilitation in the event of an accident. This may be useful, if you do not have other health insurance or if it does not cover all necessary services. The insurance company will pay you compensation if you are injured, disability or death as a result of an accident. The cost of insurance for the driver and passengers depends on the amount and period of insurance, as well as the number of insured persons, their age and health status.
How to choose and buy a policy?
For, to choose and buy an MTPL policy or another type of insurance, you need to compare offers from different insurance companies. You can do this in several ways:
- Visit the offices or websites of insurance companies and find out the conditions and prices of insurance. You can also ask for advice from an insurance agent or broker, which will help you choose the best option.
- Use online insurance comparison services, such as Banki.ru and others. On such sites you can enter the parameters of your vehicle and drivers, select the types of insurance you are interested in and receive a list of offers from different insurance companies. You can compare prices, conditions, reviews and ratings of insurers, and also issue and pay for a policy online.
- Contact the financial marketplace. On these sites you can not only compare and buy insurance, but also get useful information about various aspects of car insurance, such as types of insurance, odds, rates, payments, instructions and tips.
How to receive insurance compensation?
For, to receive insurance compensation under compulsory motor liability insurance or other insurance, you need to follow the following steps:
- Report the accident to the insurance company of the culprit and the victim within three days.
- Collect the necessary documents, confirming the fact and circumstances of the accident, as well as the amount of damage. Such documents include: European protocol or traffic police resolution, vehicle inspection report, certificate of repair cost, photos of damage, copies of passports, driver's licenses and OSAGO policies of road accident participants, as well as other documents depending on the situation.
- Submit an application for insurance compensation to the insurance company of the culprit or victim within 30 calendar days from the moment of the accident. The application can be submitted in person, by mail, by email or online services. You must provide your details in the application., accident data, information about the insurance company and policy, as well as the required amount of compensation.
- Wait for the insurance company's decision on payment or refusal within 20 working days from the date of submission of the application and documents. The insurance company may request additional documents or conduct an examination of the damage. If the insurance company agrees to pay compensation, then she must notify you about this and offer a way to receive money. If the insurance company refuses to pay, then she must justify her decision and indicate the period and procedure for appealing.
- Receive insurance compensation in the method you choose within 5 working days from the moment the decision on payment is made. You can get money in cash, transfer to a bank account, card or e-wallet. If you do not agree with the insurance company's decision, then you can contact the Russian Union of Auto Insurers, financial ombudsman or court.
Output
OSAGO insurance for a car – this is a necessary and useful document for every car owner, which protects him from financial risks in the event of an accident. OSAGO covers damage, caused to life, health or property of third parties, but does not cover damage, caused to your vehicle or your health. To do this, you need to take out additional types of insurance., such as CASCO, DSAGO or driver and passenger insurance. You can choose and buy an MTPL policy or another type of insurance in the offices or on the websites of insurance companies, from insurance agents or brokers, or through financial marketplaces. You can receive insurance compensation, collecting the necessary documents, submitting an application to the insurance company and waiting for its decision. If you do not agree with the insurance company's decision, then you can appeal it to higher authorities. You can order the necessary insurance right now on the website banki.ru.
