Voluntary Insurance of Motor Vehicles
What is Hull Insurance and what is it for?
Hull Insurance is your car’s protection against a number of risks: from minor scratches to theft. If you got into a car accident, your car was broken by vandals or was stolen, insurance company will pay for the repair and restoration of your vehicle, or will pay compensation for the purchase of a new car.
What can be insured under hull insurance?
Passenger cars, trucks, trailers, semitrailers, construction and agricultural machinery, as well as motorcycles with useful life of up to 23 years, as well as auxiliary equipment installed in the vehicle.
In what insured events can insurance compensation be received?
In case of a car accident, theft or stealing of a vehicle; downfall of a foreign object on a vehicle or foreign object falling on a vehicle; in case of fire, explosion; lightning, natural disasters; unlawful acts of third parties; other events that occur unexpectedly and affect the vehicle externally.
How does insurance coverage work?
If there is an occurrence of an insured event, at the choice of the vehicle owner the vehicle will be restored or insurance indemnity will be paid. Repairs are performed at authorized vehicle service stations or at partnering service stations of OIC JSC. The Policyholder can choose insurance program for the risk of “Damage”, which determine the choice of the service station, where the vehicle will be restored. Programs vary in price by about 20%.
How much does OIC hull insurance cost?
Rate varies from 0.9% to 4.8% of the vehicle value and depends on:
- the vehicle age,
- the selected risks
- the selected *straight deductible
- insurance indemnity options.
*Straight deductible is a part of the loss that is not to be reimbursed by the insurer and that is deducted when calculating compensation payable to the Policyholder, from the total amount of indemnity.
Benefits of Obtaining Hull Insurance with OIC
- Free delivery;
- Personal support (assigned manager or agent);
- Free SMS notification of the need for contract renewal;
- Average commissioner’s visit to the accident scene;
- Free tow truck, where necessary
Time for receipt of payment?
The money is paid in tenge within 7 working days from the time of submission of all required documents.
Three options to receive insurance indemnity
At the execution of an insurance contract the customer can choose the most convenient option for damage compensation:
- Payment of invoices for repairs actually performed at the service station of his own choice,
- Payment of invoices for repairs actually performed at the service station of official dealers of this brand by the insurer’s reference,
- Reimbursement based on calculation of an independent expert.
Additionally, the following can be insured along with the vehicle:
- driver and passengers against traffic accident;
- civil liability of drivers in the event of harm to third parties in a traffic accident.
Additional opportunities to reduce the cost of hull insurance provided by OIC
- If your budget is restrained, consider franchise insurance.
It is important to remember that any, even small, claimed accident affects the value of the contract for the next year: you are not going to get a breakeven discount. If under franchise insurance you do not claim small losses, you will pay significantly less for insurance when renewing the contract.
- Discounts on the number of insured vehicles. If you own multiple cars, Hull Insurance for all cars will be cheaper. OIC can offer a discount of up to 20%.
- Discounts on the number of years of accident-free insurance.
The cost of Hull Insurance is also affected by the number of years of accident-free insurance at the time of contract renewal for the next year. At Hull Insurance contract renewal OIC gives discounts of up to 15%.
Diversified Approach to the Choice of Service Station
- All mass vehicle brands can be sent for restoration to vehicle service stations (VSS) that are in a contractual relationship with the OIC. The number of VSS that OIC cooperates with in repairing popular vehicle brands is constantly increasing. The company also works with universal service stations that provide fast, high-quality and inexpensive repair to almost all vehicle brands.
- At the request of the owner, depending on the chosen insurance program, vehicles may be sent for repair to authorized dealers, which will preserve the owner’s right to the vehicle aftersales service.