Private person insurance

• Car insurance
• Motor Third Party Liability Insurance
• Motor Vehicle Insurance
• What risks are covered by the KASKO insurance of the JSIC Seesam Latvia?
• What is offered and what is guaranteed by the KASKO insurance of the JSIC Seesam Latvia?
• What is a deductible?
• Where and how to purchase a KASKO insurance policy of the JSIC Seesam Latvia?
• How to reduce the price of a KASKO policy?
• In what cases the insurer may refuse to pay a KASKO indemnity?
• Standard KASKO
• 24 hour roadside assistance service
• Cits KASKO (Another KASKO)
• Property insurance
• Travel insurance
• Liability insurance
• Personal Accident insurance
• Construction works insurance
• Combined farms insurance
• Insurance of farming machinery

What is a deductible?

Deductible is a certain part of repair costs (usually, 100 LVL), which in the case of a KASKO accident is covered by the policyholder himself.

JSIC „Seesam Latvia” covers that part of the loss that exceeds the deductible specified in the insurance contract. Deductible is deducted for each insured event individually, irrespective of number of events, in the amount specified in the contract. In the case of a theft/robbery or full destruction of the vehicle, deductible is calculated as a percentage of the market value of the vehicle at the moment of the accident.

Example

A vehicle needs repair after an accident.  Costs of the repair are 1000 LVL, as specified in the repair work cost estimate prepared by a car repair shop. In the KASKO insurance contract there is specified that the vehicle owner deductible is 100 LVL.

AAS „Seesam Latvia” shall transfer 1000 LVL to the repair shop for the works performed, but the policyholder shall transfer 100 LVL to the bank account of the JSIC „Seesam Latvia”.

If the customerchoosesto receivetheinsurance indemnity in cash, the deductibleamount specified in the contract maybe deductedfromtheamountspecified in the repair work cost estimate. In thiscase,the customerreceivesthe difference between the said amounts.

Important!

The minimum deductible amount established by the JSIC “Seesam Latvia” for KASKO events is LVL 100.

Cases when relatively small damages, such as small dents or scratches, are caused to motor vehicles are relatively common, but repair of such damages usually is not urgent, because small visual defects do not prohibit further participation in the road traffic. In addition, repair of such defects is not associated with large expenses. That is why theJSIC “SeesamLatvia” pays most attention to that part of the damage which is greaterthanLVL100and which may cause more serious problems to the customer’s budget.

The insurer’s objectiveis to havethe vehicle qualitatively repairedwithout unnecessary delayand returned back to the customeras soon as possiblein an operational state.

For customers, who have insured their vehicles in the JSIC “Seesam Latvia” within at least past two years and who have not submitted any KASKO insurance claim during this period of time, the deductible specified in the new insurance contract for the first insured event would be 0 LVL and the price of a KASKO policy would be considerably lower.