The system of compulsory motor third party liability insurance in our country has been operating for a long time and has proven its effectiveness. Today, in addition to CTP insurance, other insurance products are offered to car owners.
It is possible to insure a car practically from any danger that accompanies its operation – from theft, damage, etc. It is especially important to think about car insurance when purchasing equipment on credit.
Today, many banks offer car loans programs, according to which you can purchase the necessary equipment for the enterprise. Credits are issued by banks at the place of residence of the client, so the conditions in banks, regardless of its location, are about the same. Thus, if a client lives and works, for example, in Astrakhan, then he can receive a car loan under the same conditions and grounds as a resident of the capital. The main thing is to correctly fill out and submit all the necessary documents for lending and submit an application for a loan for the chosen program.
Many car loan programs provide for compulsory insurance of purchased equipment, whether it be a passenger car or a heavy truck. Many clients regard such a condition of a bank as a simple increase in the cost of a loan and try to select a bank in which it is not necessary to arrange insurance. Moreover, the refusal to insure the property acquired on credit is a decision rather unreasonable. After all, motor vehicles are subject to a large number of threats. A car can be hijacked, rendered useless as a result of an accident, other situations are also possible, as a result of which the machine will not be able to be operated.
But credit obligations to the bank, regardless of the circumstances, remain, therefore, the owner will have to make regular payments to the bank for a long time. If a loan was taken for an inexpensive car, then you can find an opportunity to repay the loan ahead of time, in this case financial losses are inevitable, but the time of obligations to the bank is reduced. And if a loan was taken to buy a large, high-tech and, consequently, expensive special equipment, then such debt obligations could lead to the bankruptcy of the company for which the equipment was purchased, since Payments will be large enough, and they will earn less opportunities.
That is why it is strongly recommended to insure the equipment purchased on credit, because in the event of an insured event an insurance payment will be received from the insurer, which will allow to fully or partially repay the debt to the bank.