Casco is a voluntary insurance that protects your vehicle from numerous risks – traffic accidents, natural disasters, malicious acts by third parties, and many more.
Damage to your car can certainly cause trouble and affect both your finances and your mood. One of the main benefits of Casco insurance is that it saves you money when unexpected events occur. For a relatively low price compared to the value of your car, you can transfer the financial risk to your insurer.
The issue of road safety remains critical in Bulgaria. From the beginning of 2023 to May alone, 2,368 serious road accidents were recorded. There is no official data on minor accidents.
In case of an incident, a bilateral report is usually filled out by the involved drivers. If there is disagreement, the Traffic Police will draft an official protocol. If you are at fault, your Third-Party Liability Insurance will cover the damage caused to the other party. However, the cost of repairing your own car will be entirely your responsibility, unless you have Casco insurance, which would cover those expenses.
Vandalism can come in many forms: scratches on your car, slashed tires, broken windows, or other deliberate actions that cause material damage. Thankfully, Casco insurance covers such risks as well.
Parking in big cities is becoming increasingly difficult. Few drivers admit fault or leave their contact information if they accidentally damage another car. With Casco insurance, damages caused in parking lots are also covered — whether through compensation or direct repair at a partnered service center.
According to statistics from the Ministry of the Interior, an average of three cars are stolen every day in Bulgaria. The most commonly stolen cars are around 10 years old, typically dismantled and sold for parts. The risk of theft is one of the top reasons people choose to purchase Casco insurance.
Natural disasters that Casco insurance may protect your vehicle from include:
Storms
Hail
Floods
Hurricanes
And more