Sale of the vehicle is not only receiving money from the buyer and re-issuing documents to the traffic police, but also solving a number of related financial issues. One of the key points that new owners often forget is the fate of the unused insurance period. Many people mistakenly believe that the policy burns down with the transfer of rights, but the law and insurance rules allow you to return part of the premium paid.
The amount you will receive on your hands depends on the type of contract: OSAGO or CASCO. The mechanisms of calculation, terms and conditions of return in these cases are radically different. If in the case of compulsory insurance there are strict legal regulations, then voluntary insurance is governed by the terms of a particular contract and the rules of the insurance company.
In this article, we will discuss in detail what compensation can be counted on, how to correctly calculate the “unused” period and what documents will be required for the successful completion of the procedure. Understanding these nuances will help you not lose extra money when changing your car.
Differences in the return of funds on OSAGO and CASCO
The fundamental difference lies in the legal nature of these two types of insurance. OSAGO is a compulsory type of civil liability insurance, and the terms of termination of the contract are strictly regulated by Federal Law No. 40-FZ. In case of sale of the car the owner has an unconditional right to refund part of the insurance premium, and the insurer cannot refuse this if all the formalities are met.
The situation CASCO This is different because it is a voluntary form of insurance. Here, the dominant role is played by the insurance rules of a particular company and the text of the policy itself. Some insurers may provide for a fee for termination of the contract or not to return money at all under certain conditions, if this is prescribed in the contract. However, according to the Civil Code of the Russian Federation, when selling insured property, the contract can be terminated, and part of the premium must be returned proportionally to the time.
⚠️ Note: When terminating the contract, carefully study the section "Termination Procedure". Some companies apply penalties or withhold a fixed amount for conducting a business, which significantly reduces the final payment.
It is important to understand that in both cases the calculation is carried out for the “unused” period. This means that the days when the car has already been sold and the policy is still in force are subject to compensation. The key point is the date of appeal: the sooner you apply after the sale, the more funds you will be able to save.
Formula for calculating the amount of return on OSAGO
For compulsory insurance of civil liability of vehicle owners, a transparent and uniform formula is in place for all insurance companies. The law stipulates that 77% of the policy cost for each full unused month is refundable. The remaining 23% is fixed costs of the insurer, which are not refundable under any circumstances.
The calculation is made as follows: first, the cost of one month of the contract is determined (the total amount of the premium is divided by 12). The resulting value is then multiplied by the number of full months remaining until the end of the policy. The total figure is multiplied by a coefficient of 0.77. It is important to note that a less than full month is not taken into account.
Example of calculation of returns
If the annual policy cost 12,000 rubles, and there are 6 months left before the end of the term, the calculation will be as follows: (12 000 / 12) 6 0.77 = 4,620 rubles.
There is a common misconception that you can get your money back in days. This is not the case: if 3 months and 25 days remain until the end of the term, compensation is accrued only for 3 full months. That's why. It is better to contact the insurance company in the first days after the saleNot to burn another paid month.
Below is a table showing the approximate refund amounts for different policy costs and the remainder of the expiry date:
| Cost of the policy (ruble) | Remainder of term (month) | Refund amount (77%) | Withheld (23%) |
|---|---|---|---|
| 10 000 | 6 | 3 850 | 1 150 |
| 15 000 | 9 | 8 662 | 1 725 |
| 20 000 | 3 | 3 850 | 1 150 |
| 25 000 | 11 | 17 645 | 3 208 |
It should be borne in mind that if additional drivers were added to the policy or increasing coefficients were applied, the calculation is still carried out from the full base value of the contract. Personal data of drivers does not affect the percentage of withholding due to the sale.
Specificity of refund under the CASCO policy
Unlike the CTP, refunds for voluntary insurance CASCO It is not subject to strict tariffs. Article 958 of the Civil Code of the Russian Federation comes into force here, which states that in case of early termination of the contract, the insurer is entitled to a part of the insurance premium proportionally to the time during which the insurance was valid. However, the actual costs of the company are often deducted from this amount.
Many insurance companies have developed their own return tables or formulas that may be less beneficial to the customer than in the case of CMTPL. The rule is often applied: the less is left before the end of the contract, the lower the percentage of return. In some cases, if the end of the insurance year is less than 3-4 months, the refund may not be made at all, if it is prescribed in the rules.
Particular attention should be paid to the reason for the termination. If you are selling a car, that is a good reason. If you simply decide not to drive the car anymore or it is in the garage, the insurance company may refuse to refund, citing the fact that the risk continued to exist. The sale completely eliminates the possibility of an insured event involving you, since you are no longer the owner.
When calculating the amount of return by CASCO can be taken into account:
- 📉 The actual duration of the contract.
- 💰 The insurer’s expenses for conducting business (agent, forms, processing).
- 🚗 Insurance compensation paid for the period of the contract (if any).
- 📄 Penalties for early termination (if provided for by the contract).
Required documents for return processing
The procedure for refunding the insurance premium begins with the collection of a package of documents. Mistakes at this stage may result in delays or repeated visits to the insurance company's office. The main list of documents is the same for most cases, but it is always better to clarify the current list on the website of your insurer or by phone hotline.
The standard package includes:
- 📄 The original policy of OSAGO or CASCO (if the policy is electronic – a number or screenshot is enough).
- 📝 Receipt or check for payment of insurance premium (confirmation of payment).
- 🆔 Passport of the insured (car owner).
- 🤝 The contract of sale (PrEP) of the car, certified by the signatures of the parties.
- 🚗 A copy of the PTS with a note about the new owner or a certificate of registration of the vehicle of the new owner.
It is important that the date of the transaction is clearly and legibly indicated in the contract of sale. This date will be considered the starting point for calculating the unused period. If PrEP is lost, you can restore it through the traffic police or ask for a copy from the buyer, but this will delay the process.
☑️ Collection of documents
You will also need to submit a claim for a refund of the insurance premium. It indicates the details of the bank account to which the money should be transferred. The use of cash payments in such cases by insurance companies is practically not practiced due to the requirements for transparency of financial transactions.
Step-by-step instructions for submitting an application
The return process is quite linear, but requires attention to detail. The first step is to visit the office of the insurance company. It is advisable to contact the same office where the policy was purchased, or the central office of the region, as small points of sale may not have the authority to terminate contracts.
The office will provide you with an application form. In the column "Reason for termination" must indicate "Sale of the vehicle". Please indicate the exact date of sale under the contract of sale. Do not write “sale planned” or “soon to sell” – the basis is already held the fact of transfer of ownership.
The reason for filling in the sample: "Please terminate the insurance contract No. in connection with the sale of the vehicle (the contract of sale from DD.MM.GYG).After submitting the documents and application, the insurance company employee must give you a copy of the application with the incoming number and the date of admission. This document is critically important: it confirms the fact of your appeal and starts the countdown of the consideration. Without an incoming number, it will be extremely difficult to prove the timeliness of filing an application in the event of a dispute.
Take photos of all the original documents before handing them over to the insurance officer. This is your insurance against loss of paperwork.
The period of consideration of the application and transfer of money is regulated by law. For OSAGO, it is 14 calendar days from the date of submission of the full package of documents. For CASCO, the terms may be prescribed in the insurance rules, but usually also do not exceed 14-30 days. If the money is not received on time, you have grounds for charging penalties.
Frequent mistakes and controversial situations
One of the most common mistakes is delay. Car owners often think they can apply for a refund at any time during the year after the sale. It's not. Although the law does not establish a strict statute of limitations for treatment, it is unprofitable for you to delay in the first place, since each month “burns” irrevocably.
Another mistake is selling a car along with a policy “in addition”. Some sellers leave insurance to the new owner, believing it is a bonus to the deal. However, the insurance policy is tied to a specific owner and car. The new owner cannot use your insurance legally, he must issue his own. You lose the opportunity to get your money back. In the case of CASCO, the policy can be re-issued for a new owner, but this requires the consent of the insurance and co-payment or recalculation, which is rarely done in practice.
⚠️ If you sold the car, but did not remove it from the register (formally remained the owner) and did not file for a refund of insurance, and the new owner was in an accident, formally claims may arise to you, although the policy is not yours. Get your returns straight away!
There are also situations when the insurance company requires a certificate from the traffic police on deregistration. This requirement is illegal for the return of CTP at sale, since the fact of sale is confirmed by the contract of sale. The requirement of a certificate of account or an act of acceptance and transfer is also often an unnecessary bureaucratic barrier that can be challenged by reference to legislation.
In disputable situations, when the insurer refuses to refund or understates the amount, it is necessary to require a written refusal with justification. This document will be the basis for a complaint to the Central Bank of the Russian Federation or appeal to the court. Practice shows that most courts in such matters side with the consumer if the contract was terminated for a good reason (sale).
The main conclusion: Do not wait for the expiration of the policy. Apply for a refund immediately after signing the purchase contract to maximize the refund amount.
Questions and Answers (FAQ)
Can I return the insurance if the car is sold under a general power of attorney?
In this case, you are legally the owner. There is no contract of sale, the fact of sale is not recorded in the traffic police. Return insurance can only be after deregistration or re-registration of ownership.
What to do if the insurance company is liquidated?
In case of bankruptcy of the insurance company, the refund is carried out by the liquidation commission or the Russian Union of Auto Insurers (RSA) for CTP. It is necessary to monitor official announcements and submit claims to the register of creditors.
Will the money be returned if the policy has been in use for less than 3 months?
Yes, they will. There is no minimum threshold of 3 months for return. You will be refunded 77% of the cost for each full unused month, even if you have two left.
Do I need to take the original OSAGO policy?
Yes, the original policy (or its electronic version in printed form) must be handed over to the insurance company upon termination of the contract. Without the delivery of the form, the return procedure will not be started.