Although as an owner of a vehicle you are obligated to get insurance against liability of damage caused by or with your vehicle to a third party, you are not obligated to get insurance for your own vehicle against damage. However, it would of course be wise.
Because having W.V.I. insurance is legally required, the CASCO insurance can only be acquired in combination with W.V.I. insurance. This insurance covers the CASCO of a vehicle for the damage and loss of a vehicle. Damage to your vehicle may be caused by an accident, fire and/or your vehicle getting into the water. This insurance also covers your losses due to theft.
It is important to know that a certain exchange rate will be used for the calculation of the insurance premium for CASCO insurance policies. The same exchange rate will be used when paying out the claim.