Buying a car through leasing is a convenient financial tool that allows businesses and individuals to use equipment without diverting large amounts from turnover. However, car ownership in this case has its legal subtleties, one of which is compulsory insurance. Unlike the classic purchase on credit or for cash, here the owner formally remains the leasing company, which imposes special requirements on the leaseholder. insurance.
Many lessees mistakenly believe that the process of registration is no different from the standard, but it is the presence of a leasing agreement that dictates its rules of the game. Beneficiary The contract is most often the lessor, not the one who actually operates the transport. Understanding these nuances will help to avoid problems with payments in the event of an insured event and not overpay.
In this article, we will discuss in detail how to issue a policy, whether you can choose an insurance company yourself and what to do with the balance of funds if you decide to repay the contract ahead of time. Let’s look at the common mistakes and hidden commissions that are often found in this field.
Legal status of the parties and the beneficiary
The key difference between leasing and credit is the distribution of property rights. Until the full repayment of the debt and payment of all interest, the car is owned by the leasing company. That's why. lessor It is more important to protect property than anyone else. It requires that the risks be covered by the CASCO policy at the full cost of the vehicle.
In the column "Benefitee" in the insurance policy usually indicates the leasing company. This means that in case of total loss of the car or theft, the insurance indemnity will be paid to it, not to the user. Lessee The contract must continue to pay payments even during the recovery period or the search for a new car, unless otherwise specified in the contract.
⚠️ Note: If the beneficiary in the CASCO policy is only the lessor, and you get into an accident requiring repair, the insurance company can transfer money to the account of the leasing company. Make sure that the contract spells out a mechanism for the prompt transfer of these funds for repair or offset against payments.
There is a practice when the policy indicates two beneficiaries: the leasing company and the user himself. This is a more flexible option, allowing you to solve repair issues faster. However, this point is not always possible to agree on, because financial institutions They want to minimize their risks.
The main principle of leasing is that the car is a collateral property, so control over insurance always remains with the owner (leasing company).
Liabilities of the Lessee on Insurance
Despite the fact that the owner is listed leasing company, the actual payer of contributions is the user of the equipment. In the lease agreement there is always a clause obliging the client to independently issue and pay for the CASCO policy. Ignorance of this requirement is considered a gross breach of contract.
The lessee must not only buy a policy, but also strictly monitor the terms of its validity. Skipping the extension date even for one day can result in accrual of huge amounts of money. penalty Or to demand the return of the entire vehicle early. The insurance must cover the entire period of the lease agreement or be renewed annually with the provision of copies to the company.
- 🚗 Timely payment: Pay in advance, taking into account the time for data processing by the insurance company.
- 📄 Transfer of documents: A copy of the policy and the payment check must be transferred to the manager of the leasing company immediately after registration.
- 🔍 Verification of conditions: Make sure that the policy takes into account all the additional options required by the contract (for example, no franchise or service centers).
It is important to understand that the responsibility for the condition of the car lies with you. Even if the car is parked and not used, the absence of a valid CASCO is the basis for the termination of the contract unilaterally by the lessor. Legal practice There are many cases when companies have seized equipment because of the lack of insurance.
Can you choose an insurance company yourself?
One of the most common questions that arises from clients is: “Do I have to insure in the partner company of the lessor?” Formally, according to the antimonopoly legislation, the imposition of services is prohibited. You have the right to choose any accredited insurance, which meets the requirements of the reliability rating prescribed in the contract.
However, in practice, leasing companies often create obstacles to choosing a “third-party” insurer. They may require tariff approvals or insist on using their brokers. This is often argued by the fact that affiliate rates are lower, but in reality the price in “their” insurance can be higher than the market due to the commissions included.
To avoid conflicts, carefully read the insurance section of the contract. There may be specified specific requirements for the rating of the insurer (for example, not lower than the level of "ruAA" according to "Expert RA"). If your selected insurer meets these criteria, you cannot refuse.
Hidden commissions when choosing your “own” insurer
Leasing companies may charge a fee for reviewing documents from third-party insurance companies or require a higher deposit. Please check this point before signing the lease agreement so that you do not suddenly lose 1-2% of the cost of the car.
If the lessor categorically refuses to choose and requires insurance only from partners, this may be a sign of bonded conditions. In this case, it is worth considering the proposals of other leasing companies, where the approach to customers is more flexible. The market dictates its rules and competition forces players to offer more transparent terms.
Specificity of calculation of cost and tariffs
The cost of CASCO for cars in leasing often differs from standard tariffs. Since the beneficiary is a legal entity (leasing company), the tariff can be carried out under corporate programs. However, this is not always beneficial for the end user.
The price of the policy is influenced by many factors: the brand and model of the car, the age of the driver, the region of operation and, of course, the terms of the lease agreement. Often it is required to enable the option “Warranty of value preservation” or refusal of wear, which significantly increases the cost. insurance.
| Influence factor | Impact on cost | Commentary |
|---|---|---|
| Beneficiary | Raises. | Risks of legal entity higher than natural person |
| Franchise | Decrease. | Often required under a lease agreement |
| Age of the car | Grows. | For new cars, tariffs are higher due to expensive parts |
| Region | Varying. | Moscow and St. Petersburg are the most expensive regions |
It is worth noting that some leasing companies include the cost of CASCO in the body of the lease payment. This is convenient for accounting, as it allows you to evenly distribute costs, but as a result, the overpayment can be up to 15-20% of the real cost of the policy. Always count. full-time (TCO) and not just a monthly payment.
Ask for the calculation of CASCO from three different brokers before signing the lease agreement. The difference in price can reach tens of thousands of rubles, which will significantly affect the overall profitability of the transaction.
Actions in case of an insurance event
The procedure for an accident or theft of a car in leasing has its own characteristics. The first thing to do is to call the traffic police (or issue a Euro Protocol) and immediately notify the insurance company. But that is where the standard procedure ends.
The next mandatory step is to notify the lessor. Without their written consent or at least notification, repair work may be regarded as a violation of operating conditions. The insurance company, knowing the status of the lease, often requires the presence of a representative of the leasing company when inspecting the damaged vehicle.
- 📞 Notification: Call the leasing company on the first day after the incident.
- 📝 Documentation: Collect a full package of documents, including certificates from the traffic police and the act from the insurance.
- 🔧 Repair: Direct the car only to those service centers that are accredited by both the lessor and the insurer.
⚠️ Warning: Never begin repairing a car that is in leasing without written approval from the leasing company, even if the insurance company gave the go-ahead. This can result in a denial of refund or a claim to refund the full cost of the car.
The process of receiving payment can be delayed, as the money is transferred to the account of the leasing company, which then must pay the service bill or set off the amount in the account of the debt. This chain requires perfect documentary support on your part.
Return of the CASCO upon early repayment
The situation when the lessee decides to buy the car ahead of schedule, is quite common. The question is, what do you do with the unused insurance? Since the CASCO policy is an integral part of the security of the contract, its fate is directly related to the balance of the debt.
If you fully repay the debt to the leasing company, the car goes into your ownership. From this moment you become a full owner and can dispose of the policy at your discretion. However, it is not possible to simply collect money for the remaining months - you need to undergo the procedure. termination or changes to the insurance contract.
The insurance company will calculate and return part of the premium only if the insured event did not occur and the risk ceased to exist. The amount of return is calculated proportionally to the remaining period, but from it can be deducted the costs of doing business (RVD), which is prescribed in the insurance rules.
☑️ Actions in early purchase of a car
Carefully read the contract: sometimes it is written that in case of early redemption, the remainder of the CASCO burns up to repay the commissions. This condition is critical and often causes money loss to customers who don’t read the fine print.
Frequently Asked Questions (FAQ)
Can I get a franchise with a lease?
Yes, this is possible, but only if the terms of the lease agreement allow for the franchise. Often, leasing companies agree to a franchise in exchange for a reduction in the monthly payment or require that the franchise amount not exceed a certain percentage of the value of the car. All conditions must be set out in the supplementary agreement.
What happens if you don’t extend the CASS on time?
This will have serious consequences. The leasing company has the right to demand early repayment of the entire amount of debt, to charge penalties for each day of delay and even to withdraw the car. In the event of an accident, all repair and repair costs will fall solely on your shoulders.
Does the car transfer to the new owner when selling a leasing car?
No, when selling the leased item (cession), the old CASCO policy is usually terminated. The new owner (buyer) must issue his own insurance contract, as the risk and the beneficiary change. The old policy can be returned in proportion to the unused period.
Does the driving history affect the cost of a Leasing CASCO?
Yes, the bonus-malus ratio (BMC) is also used in the corporate segment. If the car is operated by a single driver or assigned to a specific individual, its driving history will be taken into account when calculating the cost of the policy. For fleets, an average coefficient is applied.