My insurer recommends a ‘Casco’ policy for my new car. Is this compulsory?
The CASCO is not required by law. But if the car is the subject of a lease or if a simple interest loan has been taken out to finance the new car, the bank requires all risks cover.
Taking out a CASCO policy is, however, justifiable for other reasons:
- if you are responsible for the accident, the damage to your car is not covered if there is no CASCO insurance;
- in the event of an accident abroad, the CASCO allows swift compensation;
- in the event of the responsible party leaving the scene of the accident, the CASCO covers the damage to your car;
- if the responsibility is not agreed, you do not have to wait for the end of a long legal procedure before receiving compensation for your damage. The CASCO covers that.