What is a franchise?

Franchise is translated from French as "benefit" and has two main meanings.
A franchise in business is an opportunity to open a new business "from scratch" under an existing brand. Surely you have heard at least once in your life: "I would like to open a franchise business…»
Deductible in insurance — the part of the damage that is not compensated in the event of an insured event.

How a dynamic CASCO deductible works
With a dynamic deductible, the insurance amount decreases by a certain percentage either over time (for example, with each month of the contract), or with the number of insured events.

Let's take an example:

Amir was involved in an accident a month after the registration of the CASCO. The insurance company paid for his car repairs in full. However, three months later, Amir again became a participant in the accident.
Since this was the second insured event during the validity of the policy, a dynamic deductible of 5% came into force. The damage to the car amounted to 20,000,000 soums. With this in mind, Amir received an insurance payment according to the following scheme:

20,000,000 soums – 5% = 19,000,000 soums.

What is a "Value Guarantee" (GAP)?

The cost guarantee, or GAP (Guaranteed Auto Protection), is an option that allows you to fix the price of a car at the time of its insurance. When paying for CASCO insurance companies almost always take into account the percentage of car wear and tear during the time from the purchase of the policy to the insured event.

Let's take an example:

Amir insured the car under a comprehensive insurance policy with a dynamic deductible of 1.1% of the insured amount for each month of the insurance contract starting from the first month. In this case, an incomplete month is taken as a full one.
Amir's car was stolen five months after the CASCO was issued. The insurance amount was 74,000,000 soums.
Taking into account the dynamic deductible, Amir will receive an insurance payment in the amount of 74,000,000 soums – (1.1% × 5 months) = 69,930,000 soums. The GAP option would allow Amir to save 5.5% of the insurance amount in case of car theft. He would have received 74,000,000 soums, not 69,930,000 soums.

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