RISK INSPECTION: WHEN, HOW, WHO, WHY? Everything you need to know about it!

Date: 04.06.2020
Author: Monica Dona

INSPECTIA DE RISC CAND, CUM, CINE, DE CEBefore concluding an insurance policy, companies in the field must determine the price of the risks they insure. Specifically, the insurer wants to know in advance how much it would cost if something happened to your vehicle. Of course, the higher the cost thus established, the higher the policy fee will be.

To find out, we assess possible events that may occur with certain elements in mind, such as the purpose and how often the car is used, how many kilometers it travels and some information about the driver.

If you have ever wondered what a risk inspection is and why it is performed, you can read about all this below.

Table of Contents

1.What does risk inspection mean?

Risk inspection means the assessment of the good to be insured. This is done according to the risks that will be covered by the insurance policy.

For this purpose, photographs are taken and inspection reports are drawn up in which the information found and the general condition of the vehicle are completed.

During the procedure, in general, the functionality of the machine is visualized and checked, including:

  • start the engine, check if the machine is running;
  • the body is inspected for bumps, scratches and other damage;
  • the conformity of the documents presented by the insured with the safety elements of the vehicle is verified – identity card, chassis and registration number, body series;
  • the safety system is analyzed – airbags, seat belts;
  • check the tires, the audio-video system, the alarm system, any other additional equipment.

All findings are included in the inspection report, which, together with the insurance application, is the basis for issuing the policy.

2.Who does the car risk inspection?

The risk inspection is carried out by a “risk inspector”, who is most often a representative of the insurer.

Some insurance companies allow the risk inspection to be done online, which requires the insured to photograph the car, complete the risk reports and send them to the insurance company.

3.When is the car risk inspection performed?

The risk inspection shall be carried out before the conclusion and issuance of an insurance policy. New vehicles are, however, exempted from this procedure.

It may also be carried out during the conduct of the policy if:

  • it is desired to insure additional risks;
  • upon renewal of the insurance policy, if the previous one has expired;
  • during the validity of the insurance policy, if the insurer deems it necessary;
  • when providing additional equipment or modifications to vehicles.

4.What is the risk inspection for the MTPL policy?

The risk inspection involves checking the car owned by the insured, because this is the good that will benefit from insurance in the event of an unpleasant event.

Instead, the MTPL policy covers damage caused to third parties through the fault of the insured, which is why the risk inspection for the MTPL policy is not mandatory.

5.What is the risk inspection in the case of the CASCO policy?

Before concluding a CASCO policy, the insurance company will always analyze the vehicle, ie it will perform the risk inspection.

It is very important to note that any pre-existing damage will be noted in the inspection report and will not be covered by the insurance policy.

In conclusion, the main objective of the risk inspection is to determine the general condition of the vehicle, so that the insurer can estimate the probability and the costs it would have to bear in the event of events covered by insurance.

Photo source: storyblocks.com

6.Frequently asked questions and answers about risk inspection

    1. What are the steps to conclude a CASCO policy?

    After choosing the insurer, an insurance application is made, the risk inspection is performed by the company's representative and then, depending on the two, the price and the conditions of the policy are established.  

    1. Can I do the risk inspection myself or do I have to go to the insurer's agency?

    Depending on the insurer, you can send information and photos online, and the risk inspection will be performed based on them.

    1. What insurance is required?

    MTPL insurance is mandatory for all vehicles. CASCO insurance, on the other hand, is optional. Generally, if cars are taken in  leasing  , and the CASCO policy is mandatory. If the vehicles are used for activities such as passenger transport for a fee, taxis, freight transport, passenger and luggage insurance or CMR, both insurances may be required (depending on the case).

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