Casco PrivatBank (for individual clients)

Object of insurance: Property owned and/or used and/or managed by the Policyholder, namely: a vehicle (hereinafter – the Vehicle), with which the Policyholder’s insurance interests are associated.
Under this product, technically sound passenger vehicles are accepted for insurance.

Policyholders: individuals.

Insurance risks: 

1. Illegal possession of the Vehicle;
2. Road traffic accident (RTA), including stone impact from under the wheels of vehicles, collision with animals while the Vehicle is in motion;
3. Unlawful actions of third parties, except for “Illegal possession”;
4. Natural disaster: flood, storm, hurricane, tornado, tempest, downpour, hail, landslide, avalanche, soil slip, groundwater rise, mudflow, lightning strike, soil subsidence, earthquake, etc.;
5. Fire, explosion, or spontaneous combustion;
6. Accidental falling of trees, stones, or other objects; animal attacks; damage to the Vehicle by water or other objects or liquids as a result of public utility accidents; damage caused by the Vehicle falling through the road surface.

An insurance event is the fact of the Policyholder’s (Beneficiary’s) losses as a result of partial damage, total destruction, or illegal possession (loss) of the insured Vehicle and/or additional equipment due to the occurrence of insured risks.

The following are not eligible for insurance under this product:
• Vehicles without a body number (if not provided by the manufacturer or destroyed);
• Vehicles used as taxis, for car sharing, test drives, driving lessons, competitions, as replacement vehicles, or those rented or leased;
• Vehicles in technically defective condition and not permitted for road use in accordance with traffic regulations.

The insurance sum is determined by agreement of the Parties and must correspond to the actual value of the Vehicle at the time of signing the insurance contract.

The amount of the insurance premium depends on the insurance sum and the chosen insurance conditions.

Minimum and maximum annual insurance rate — from 5.99% to 7.99% of the insured sum under the insurance contract.

Insurance premium = insurance rate × insured sum.

The deductible is set by agreement of the Parties as follows:
• 7% or 5% of the insured sum — for the risk “Illegal possession of the Vehicle” or in the case of total constructive or physical loss of the Vehicle;
• 0%, 0.5% or 1% of the insured sum — for all other insured risks stipulated by the insurance contract.

Deductible type: unconditional.

Territory of coverage:

• Ukraine;
• for passenger vehicles and motorcycles, the insurance coverage also extends to CIS countries (except the Russian Federation and the Republic of Belarus), Europe, Turkey, and Georgia.

The insurance contract does not apply to:
• temporarily occupied territories of Ukraine;
• territories of Ukraine where public authorities temporarily do not exercise their powers, and settlements located along the contact line;
• territories of any kind of military action;
• areas where a state of emergency has been officially declared or officially recognized by state authorities as potential natural disaster zones, if such declaration was made before the insurance contract was concluded;
• roads where sporting events are held.

Contract duration — 1 (one) year.

If the contract term exceeds 1 (one) year, it is divided into insurance periods.

The contract enters into force at 00 hours 00 minutes (Kyiv time) on the start date indicated in the Contract, but not earlier than the moment the Policyholder pays the insurance premium (or the first installment if payment is made in parts) for the first insurance period to the Insurer’s account.

The contract remains valid until 24 hours 00 minutes (Kyiv time) on the date specified as the end date of the contract, unless other circumstances result in early termination according to the payment conditions. The contract is extended for the next insurance period provided the next insurance payment (or installment thereof) is credited in full to the Insurer’s account no later than the payment deadline specified in the contract. 

Failure by the Policyholder to fulfill the obligations under the contract constitutes grounds for refusal of the insurance payment. If the insurance premium or its first installment is not paid in the amount and within the period specified in the contract, the contract is considered not concluded (unless otherwise agreed by the parties and stated in the insurance contract). If the next installment is not paid in the amount and within the period specified in the contract, the contract terminates (unless otherwise agreed and stated in the contract).

The contract is supplementary to banking services under the Credit Agreement concluded by the Policyholder with JSC CB "PRIVATBANK". In connection with the conclusion of this Contract, there is no need to obtain additional or related services from the Insurer and/or third parties related to the provision of financial services under the Contract.

Discounts and promotional offers are not available and do not apply.

Before signing the Contract, the Policyholder must provide the Insurer with information that is significant for the Insurer’s decision to conclude the Contract and/or to determine the amount of the insurance premium, including all circumstances known to them that are important for assessing the insurance risk (determining the likelihood of the insured event and the possible amount of loss). During the contract period, the Policyholder must notify the Insurer in writing within 5 (five) business days of any changes in circumstances that are significant for assessing the insurance risk and/or that affect the premium amount (especially in case of a change of drivers).

Information significant for the Insurer’s decision to conclude the Contract and/or determine the premium and/or assess the insurance risk includes details about the Vehicle specified in the Contract, as well as information about: 

• the country of origin of the Vehicle, drivers authorized to operate the insured Vehicle, the primary area of use, the nature and/or intensity of operation, technical condition, existing damages, and hidden defects;

• losses related to the insured Vehicle that occurred before signing the Contract (including under contracts with other insurers);

• all current insurance contracts concluded for the insured Vehicle;

• the existence of legal grounds or other legal relations confirming the Policyholder’s and Beneficiary’s insurable interest in the Vehicle;

• change of Vehicle ownership (sale, donation, etc.), issuance of a power of attorney granting disposal rights to another person, signing of a preliminary sale agreement, or receipt of a deposit; 

replacement of the body or engine, installation of additional equipment and/or replacement of Vehicle components differing from those insured, including modifications requiring registration of such changes by competent authorities, registration (re-registration) of the Vehicle;

• deregistration or cancellation of the Vehicle’s state registration;

• the Vehicle being under search, arrest, or encumbrance (except encumbrances related to contractual relations between the Policyholder and the Beneficiary);

• transfer of the Vehicle for rent/sublease, lease, car sharing, pledge, leasing/subleasing, or use of the Vehicle as a taxi;

• loss of registration documents and/or keys to the insured Vehicle and/or key fobs, remote controls for the alarm system;

• errors, malfunctions in computer equipment, software, or embedded microchips/components;

• malfunction, removal, deactivation, or replacement of anti-theft devices.

This insurance product requires the consumer’s prior familiarization in order to make an informed decision on concluding the insurance contract.

Before concluding the insurance contract, the consumer must review the information about exclusions from insured events and grounds for refusal of insurance payments, the insurer’s liability limits for each insured object, insurance risk and/or insured event, as well as the calculation procedure and conditions for making insurance payments contained in the General Terms of the insurance product "CASCO (AKS)", available at: https://uniqa.ua/storage/public-offer/partner-reports/4060_(AKS)_umovy.pdf