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Monday 27.01.2020 | Name days: Ildze, Ilze, Izolde
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Frost arrival increases the number of road accidents

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The first CASCO and OCTA insurance claims have been received regarding vehicle damage due to frost, ice-cover and snow, the business portal BNN was informed by ERGO insurance company.

According to specialists, the road accidents caused due to the weather and road conditions should not be regarded as more severe than usual; however, their damages and causes are of a different nature.

Overall, road traffic accident applications comprise about 70% of the total number of filed CASCO claims, indicate ERGO statistical data.

«Along with the arrival of frost and snow, the number of minor accidents has increased, which more often occurred on slippery, narrow roads that have not been cleared from snow. The bulk of the accidents were caused by the so-called human factor – the lack of skills, negligence, the chosen driving style and speed,» pointed out ERGO Vehicle Insurance and Health Insurance Department Director Lilita Linde. She predicts that if similar to last year this winter is snowy and the frost continues, a substantial increase in the number of indemnity claims can be expected – particularly in car insurance, as well as in real estate and accident insurance.

This year, the insurance company ERGO has paid out indemnities in 97% cases of all received CASCO insurance claims. The company’s representatives also indicated that from CASCO claim rejections the majority or 55% were comprised by damages whose amount do not exceed the risk for own account –100 lats.

Overall, ERGO has mostly received CASCO claims from Toyota, Volkswagen, Mercedes-Benz, BMW and Audi car brand owners.

«Currently, CASCO has emerged as a stable, secondary product and its market share during the past two years has fallen by 40%. According to ERGO data, during the past two years the average paid out CASCO compensation has decreased by 18%,» Linde specified.

She indicated that CASCO indemnities were most often paid not in vehicle theft or death cases, but in insurance cases with the average cost of 600 –700 lats. «This includes car part theft, breaking in the car or glass breaking for theft purposes, as well as minor accidents due to weather conditions, which have in particular increased lately,» said the Director.

The largest CASCO compensation paid by ERGO comprised more than 32 000 lats and was issued for road accident caused due to the weather and road conditions. Overall, the biggest CASCO compensations are paid in cases involving complete car damage.


Leave a reply to ert

  1. ert says:

    Frost is here to stay..

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