The bank approved a loan for Toyota Camry 2026 at 8.9% per annum, but requires a CASCO insurance with a deductible of 30,000 ₽ - otherwise the rate will rise to 12.5%. This situation is faced today by 87% of buyers of new cars on credit. CASCO for car loan is not mandatory by law (unlike compulsory motor liability insurance), but banks impose it through increased interest rates or refusal of a loan. In this article, we will look at how to circumvent bank requirements, what risks are involved in refusing CASCO insurance, and where to find a policy cheaper than what the dealer offers.
The average cost of CASCO for a new car in 2026 is: 5–12% of its price (for example, for Kia Sportage for 3.2 million rubles this is 160–384 thousand rubles per year). Moreover, 60% of CASCO insurance cases occur in the first 2 years of operation - the period when the car is most vulnerable to theft and accidents. But there are legal ways to reduce the price of your policy by 30-50% without losing coverage.
Why banks require CASCO for a car loan - legal grounds and tricks
No federal law obliges the buyer to take out CASCO insurance when taking out a car loan. Article 935 of the Civil Code of the Russian Federation allows banks to require insurance only collateral property - that is, the car itself, but not the life or health of the driver. However, banks use three levers of pressure:
- 📈 Rate increase by 2–5% if you refuse CASCO (for example, from 9.9% to 14.9% in Sberbank or VTB).
- 🚫 Credit refusal under the pretext of “high risks” (more often practiced Alfa-Bank and Raiffeisen).
- 🔄 Linking to partner insurance companies — the bank offers policies only from “its” companies at an inflated price.
According to Resolution of the Plenum of the Supreme Council No. 58 of 2019, the bank does not have the right to impose a specific insurance company, but can insist on the availability of a policy any licensed insurer. This means that you can choose CASCO cheaper than the dealer offers - the main thing is that the terms of coverage suit the bank.
⚠️ Attention: If the bank refuses a loan due to lack of CASCO insurance, request a written refusal with justification. By Consumer Protection Law (Article 10) this is illegal - the creditor is obliged to evaluate solvency, not the availability of insurance.
How much does CASCO cost for a new car in 2026 - price table
The cost of CASCO depends on car models, region, driver age and driving history. Below are average prices for popular new cars (full coverage, no deductible):
| Car model | Average price, ₽ | CASCO cost (year), ₽ | % of the car price |
|---|---|---|---|
| Lada Vesta 2026 | 1 200 000 | 60 000 – 96 000 | 5–8% |
| Hyundai Creta 2026 | 2 100 000 | 126 000 – 189 000 | 6–9% |
| Toyota RAV4 2026 | 3 500 000 | 210 000 – 315 000 | 6–9% |
| Mercedes-Benz E-Class 2026 | 6 800 000 | 408 000 – 612 000 | 6–9% |
For comparison: in 2023, the average cost of CASCO was 15–20% lower due to a decrease in thefts and accidents. In 2026, prices increased due to inflation and an increase in the cost of spare parts (by 30% for foreign cars).
How banks check the availability of CASCO insurance - and what will happen if you don’t apply
Banks control insurance in two ways:
- Annual policy review. The lender requests a copy of CASCO insurance once every 12 months. If there is no insurance, he increases the rate or requires additional insurance.
- Automatic binding to RSA. Some banks (for example, Gazprombank) are integrated with the database of the Russian Union of Auto Insurers and see existing policies in real time.
Consequences of lack of CASCO insurance:
- 💸 Fine up to 1% of the loan amount at a time (practices Opening).
- 📉 Rate increase by 3–7% until the end of the loan term.
- 🚗 Seizure of the car (extremely rarely, only if specified in the collateral agreement).
⚠️ Attention: If you refuse CASCO, but get into an accident, the bank will require you to repay the loan early - even if the car cannot be restored. This is stated in 90% of loan agreements.
5 legal ways to save on CASCO with a car loan
Average savings with a competent approach - 30–50 thousand rubles per year. Use these methods:
Compare prices on aggregators (Sravni.ru, Ingosstrakh)|Increase your deductible to 50–100 thousand ₽|Apply for a policy online (10–15% cheaper)|Eliminate unnecessary risks (for example, “natural disasters”)|Provide information about your garage or alarm system (up to 10% discount)
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The most effective way is increase in franchise. For example, for Skoda Octavia for 2.3 million ₽:
- 🔹 Franchise 0 ₽ → CASCO cost: 184,000 ₽/year.
- 🔹 Franchise 100,000 ₽ → CASCO cost: 129,000 ₽/year (saving 55,000 ₽).
Another life hack: sign up for CASCO insurance not for a year, but for 6 months. Many insurers (eg RESO-Garantiya) give a 5–7% discount for a short period of time. The downside is that you will have to renew the policy more often.
If the bank requires CASCO insurance only for the first year of the loan, take out a policy for 12 months and then refuse to renew. By law, the bank cannot force you to take out insurance after repaying 50% of the loan (if the car is not pledged).
What does CASCO cover - and what risks can you refuse?
Standard CASCO policy includes:
- 🚗 Damage in an accident (including the culprit).
- 🔥 Fire or explosion (even through the driver's fault).
- 🌪️ Natural disasters (hail, flood).
- 🔓 Theft or theft (relevant for Toyota Land Cruiser, Lexus, BMW X5).
What can be excluded from coverage (saving up to 20%):
- 🚡 "Falling Objects" — if you don’t park under trees or balconies.
- 🐿️ "Damage from Animals" — relevant only for out-of-town trips.
- 💥 "Acts of Terrorism" — the probability is close to zero.
Please note: if you buy a car with a mileage of up to 1000 km ("new with title"), some insurers (for example, Ingosstrakh) offer a 5% discount on CASCO insurance, since the risk of breakdowns is lower.
Top 3 insurance companies for CASCO in 2026 - comparison of conditions
We analyzed the offers of 15 insurers and selected the best ones in terms of price/coverage ratio:
| Insurance | Average price for Hyundai Solar (RUB 2.5 million) | Franchise | Features |
|---|---|---|---|
| AlfaInsurance | 162 000 ₽ | From 0 ₽ | Free evacuation, 10% discount when booking online |
| RESO-Garantiya | 158 000 ₽ | From 30,000 ₽ | Covers "casco fraud" (fake accidents) |
| Tinkoff Insurance | 149 000 ₽ | From 50,000 ₽ | Instant checkout in the app, 5% cashback |
For premium cars (for example, Porsche Cayenne or Audi Q7) it is more profitable to contact VTB Insurance or SOGAZ - they specialize in luxury cars and offer extended coverage (e.g. replacement with a similar car during repairs).
How to check the reliability of an insurance company before applying for CASCO insurance
1. Look at the rating on the site Central Bank of the Russian Federation (must be at least "A").
2. Read reviews on Banki.ru — pay attention to complaints about payments.
3. Check if the company has its own service centers (this speeds up repairs).
4. Check if the insurer works with your bank (some lenders refuse partner discounts).
What to do if the bank refuses to approve a loan without CASCO insurance
If the lender insists on mandatory CASCO, follow the algorithm:
- Ask for a written refusal with justification. Banks often make concessions so as not to spoil the approval statistics.
- Suggest an alternative:
- 📄 Complete it extended MTPL (with an increased payment amount to 1.5 million rubles).
- 💳 Provide guarantor with high income.
- 🏦 Enlarge down payment up to 40–50% (reduces bank risks).
If the bank still requires CASCO insurance, apply for it at minimum term (6 months) and from maximum deductible. After repaying 50% of the loan (usually after 1.5–2 years), you will be able to cancel the insurance without consequences.
⚠️ Attention: Don't fake your CASCO policy! Banks verify authenticity through the RSA database. If a forgery is discovered, the creditor has the right to terminate the contract and demand early repayment.
1. Find a bank that does not require CASCO (but with a higher rate).
2. Get a policy cheaper than the dealer offers (save up to 40%).
3. Refuse insurance after repaying half of the loan.
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FAQ: Frequently asked questions about CASCO when buying a car on credit
Is it possible to apply for CASCO insurance not from a dealer, but on your own?
Yes, the bank does not have the right to insist on a specific insurance company. The main thing is that the policy meets the requirements of the lender (coverage amount ≥ the cost of the car, no exclusions for the main risks). Use aggregators like Compare.ru or Inguru to find a profitable option.
What happens if you do not renew CASCO insurance after the first year?
The bank will increase the interest rate (by 2–5%) or require you to issue a new policy. However, after repayment 50% loan (or if the car ceases to be collateral) you can legally refuse insurance without consequences. Specify this point in the loan agreement.
Is it possible to get money back for CASCO if the loan is not approved?
Yes, if the policy was issued through a bank or dealer. By Consumer Protection Law (Article 32) you have the right to terminate the insurance contract within 14 days (“cooling off period”) and return 100% of the cost. If more time has passed, the insurance company will withhold part of the amount in proportion to the duration of the policy.
Which CASCO franchise is more profitable - conditional or unconditional?
Conditional franchise (for example, “payment for damage > 50,000 ₽”) is 10–15% cheaper, but you will not receive money for minor damage. Unconditional (a fixed amount you pay for each insurance claim) is more expensive, but even covers scratches. For a new car, a conditional franchise of 30–50 thousand rubles is optimal.
Does CASCO cover wear and tear of parts during repairs?
No, most policies provide deduction of wear and tear (for example, for a tire older than 2 years, the insurance company will only pay 60% of its value). To avoid this, look for policies marked "excluding wear and tear" (for example, Absolute Insurance or Zetta). This increases the cost of CASCO by 7–10%, but pays off with major repairs.