Why CASCO is much cheaper for Chinese cars than for other cars
- June 17, 2022
- 0
The Chinese are actively developing the Russian car market, which, in turn, is increasingly opening its doors to them. So since the beginning of this year, carmakers from
The Chinese are actively developing the Russian car market, which, in turn, is increasingly opening its doors to them. So since the beginning of this year, carmakers from the Middle Kingdom are gaining ground in the leasing market in the Russian Federation: in five months from 2022, sales of Chinese brands through Sberbank Leasing alone increased by 5.9 times, the company said. As the AvtoVzglyad portal discovered, insurance companies are also catching up to meet the new demands of society.
Even this spring, Soglasiya announced that CASCO costs 43% less for a new car from China than for a car made in Europe, Korea or Japan. And recently Renaissance Insurance launched a special program – voluntary car insurance with a discount of up to 40% (depending on the make, model and city of use) for Chinese cars. So, for Chery Tiggo 7 Pro in Moscow, this insurance now costs 36% cheaper, and for Haval F7x in St. Petersburg – by 20%.
The secret to unprecedented generosity from insurers is simple. “Chinese” in our country are practically not stolen, spare parts for them are cheap, and they are mainly exploited in regions where the probability of an accident is quite small, unlike, for example, Moscow. At the same time, insurers understand that today only cars from China are actually sold and are trying to attract new customers with such dumping.
Recall that in April 2022, to insure a “Chinese” under CASCO, its owner had to pay an average of 73,000 rubles, while for a car of a European, Korean or Japanese brand, the insurance cost unbudgeted 128,000 rubles (the amounts indicated are relevant when calculating the cost of the policy for a 35-year-old married man with two minor children and more than 5 years of driving experience who has purchased a 170 hp 2022 car on credit for 5 years and has not installed anti-theft systems on it).
It is worth noting that prices for CASCO have been rising again in recent months. Unsurprisingly, according to the insurance.ru aggregator, the number of requests to purchase this policy only against theft and complete destruction of a car increased five times from January to May 2022 compared to the same months last year.
Demand for the purchase of only policies against theft increased by 88%, and for mini-hull insurance, i.e. insurance with a limited list of risks, by 62% (last year the share of truncated policies did not exceed 10 percent). 15% of their total number). In the current situation, due to the decline in the availability of new cars, Russians are more inclined to insure existing cars.
And returning to Chinese cars, it is curious to understand whether CASCO’s relatively cheap policies encourage mass consumers to switch to the Chinese car industry? Seems questionable. Although perhaps less unlikely than the fact that introducing incentives for toll roads for electric vehicles will motivate compatriots to switch to this mode of transport.
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Photo avtovzglyad.ru
Even this spring, Soglasiya announced that CASCO costs 43% less for a new car from China than for a car made in Europe, Korea or Japan. And recently Renaissance Insurance launched a special program – voluntary car insurance with a discount of up to 40% (depending on the make, model and city of use) for Chinese cars. So, for Chery Tiggo 7 Pro in Moscow, this insurance now costs 36% cheaper, and for Haval F7x in St. Petersburg – by 20%.
The secret to unprecedented generosity from insurers is simple. “Chinese” in our country are practically not stolen, spare parts for them are cheap, and they are mainly exploited in regions where the probability of an accident is quite small, unlike, for example, Moscow. At the same time, insurers understand that today only cars from China are actually sold and are trying to attract new customers with such dumping.
Recall that in April 2022, to insure a “Chinese” under CASCO, its owner had to pay an average of 73,000 rubles, while for a car of a European, Korean or Japanese brand, the insurance cost unbudgeted 128,000 rubles (the amounts indicated are relevant when calculating the cost of the policy for a 35-year-old married man with two minor children and more than 5 years of driving experience who has purchased a 170 hp 2022 car on credit for 5 years and has not installed anti-theft systems on it).
It is worth noting that prices for CASCO have been rising again in recent months. Unsurprisingly, according to the insurance.ru aggregator, the number of requests to purchase this policy only against theft and complete destruction of a car increased five times from January to May 2022 compared to the same months last year.
Demand for the purchase of only policies against theft increased by 88%, and for mini-hull insurance, i.e. insurance with a limited list of risks, by 62% (last year the share of truncated policies did not exceed 10 percent). 15% of their total number). In the current situation, due to the decline in the availability of new cars, Russians are more inclined to insure existing cars.
And returning to Chinese cars, it is curious to understand whether CASCO’s relatively cheap policies encourage mass consumers to switch to the Chinese car industry? Seems questionable. Although perhaps less unlikely than the fact that introducing incentives for toll roads for electric vehicles will motivate compatriots to switch to this mode of transport.
SUBSCRIBE FOR EXCLUSIVE CONTENT
PORTAL “AVTOVGLYAD” IN TELEGRAM
Source: Avto Vzglyad
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
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