Auto insurance [1]

Auto insurance protects policyholders from financial loss in an incident with a vehicle that they own, such as in a traffic accident collision.

Coverage typically includes:

1. Property coverage for damage or theft of a car;
2. Liability insurance for legal liability to other parties for personal injury or property damage;
3. Medical care, the cost of injury treatment, rehabilitation and sometimes lost wages and funeral expenses.

Most countries, including Britain, the driver has some but not all of it now, this news. If the vehicle require used as security for the loan lender is usually a certain amount of coverage.



Car insurance is an insurance for cars, trucks and other vehicles purchased road. The use primarily to provide financial protection from physical harm and / or injuries from traffic accidents and liability that might result from it.

Public policies

Australia

In South Australia, including Third Party Personal insurance from the car accident Commission on the license application fee for people on 17th Similar rules apply in Western Australia.

In Victoria, is Third Party Personal insurance from the Transport Accident Commission also included, by taxes, vehicle registration fees.

In New South Wales, is the mandatory liability insurance (commonly known as CTP Insurance) is a mandatory requirement and each vehicle must be insured or the vehicle will not be considered legal. Therefore, drivers can not be the vehicle to the insured. A 'Green Slip,'  other name by which CTP insurance is commonly than the color of pages printed to make known, must be received by five insurance companies licensed in New South Wales. Suncorp and Allianz hold two licenses for the CTP Green Slips remove - under license Suncorp GIO and AAMI and Allianz and Allianz in / CIC Allianz license. to publish the remaining three licenses CTP Green Slips owned by QBE, Zurich and LAI - NRMA.

In Queensland CTP is a part of compulsory registration for the vehicle. There are a variety of insurance, but the government-controlled prices in a narrow band.

This country on foreign insurance schemes are usually based only personal injury liability. Comprehensive car insurance is sold separately and could cover for property damage for events such as fire, theft, collision and damage to other property.

Canada

Several Canadian provinces (British Columbia, Saskatchewan, Manitoba and Quebec) provide a system of public auto insurance in the country while private insurance are provided. basic car insurance is mandatory throughout Canada needs with the government of each province to take advantage, at least in the automobile insurance coverage and take advantage of the opportunities for those to determine the additional coverage. Accident benefits coverage is mandatory everywhere except for Newfoundland and Labrador. All provinces in Canada have some form of no-fault insurance for accident victims. The difference from province to province is the extent to which the error or incorrectly emphasized  In general, the protection against loss of or damage to own vehicle is optional driver -. A notable exception is in Saskatchewan, where SGI provides collision coverage (less than $ 700 deductible, such as the release of collision damage) as part of its basic insurance. In Saskatchewan, residents have the opportunity to present their car insurance by the action but less than 0.5% of the population have taken this option have. 

German

Since 1939 was required to have a personal liability insurance prior to operation of a motor vehicle in all German states. In addition, each vehicle owner is free to take a comprehensive insurance. All types of car insurance provided by some private insurance. The number of insurance contributions by several criteria, as determined area, type of car or driving personal way. 

Minimum coverage set by German law auto insurance and personal liability insurance are:

EUR 7.5 million for injuries (damage to the person), € 1 million property damage and 50,000 euros for the financial loss and happiness in relationships that do not directly or indirectly with bodily injury or property damage. In fact, insurance companies usually offer a single limit insurance all-in/combined 50 million euros or 100 million euros (about 141 million dollars) for injuries, property damage and other financial / loss of opportunity (usually with limited coverage of the wounds of 8 Up to 15 million € for each body of the wounded).

Hungary

Third party motor insurance is compulsory for all vehicles in Hungary. There are no exceptions as possible in order to deposit money. The award will cover all losses up to 500 million HUF (approximately € 1.8 million) per accident with no deductible. Coverage expanded in 1250 HUF (about 4.500.000 €) in cases of personal injury. Vehicle insurance for all EU countries and some countries outside the European Union force in Hungary on the basis of bilateral or multilateral agreements. Visitors to the car insurance that are not required by the agreement, is to buy a policy, renewable monthly at the border covered. 

Indonesia
Third-party motor vehicle insurance is a necessary condition in Indonesia, and all cars and motorcycles must be insured or the vehicle will not be considered legal. Therefore, drivers can not be the vehicle to the insured. Third party motor insurance, including through contributions from the vehicle registration fee paid to an authority known as "Samsat. maintained road accident fund and only covers injuries and are named by a State: KHV in the Law number 34 years covered 1964 Re. Prog (Persero). 

India

Auto insurance in India deals with insurance for loss or damage to the vehicle or its parts due to natural and manmade disasters to cover. It provides insurance for the owner of each vehicle during the trip and also for passenger and third party law. There are some general insurance companies also offer online insurance for vehicles.

Auto-insurance in India is a mandatory requirement for all new vehicles being used for either commercial or private purposes. The insurance companies have tie-ups with leading automobile manufacturers. They offer their customers instant auto quotes. Auto premium is determined by a number of factors increases and the amount of the premium with the increase in car prices. Demanding of auto insurance in India can be accidental, theft claims or claims by third parties. certain documents are needed to Auto Insurance in India, such as application forms signed, copy of RC vehicles, characterized in driver's license copy, copy of FIR, approximate original and copy of insurance policy.

There are different types of auto insurance to India:

Private Car Insurance - Car insurance in India, is a private car insurance the fastest growing industries such as mandatory for all new cars. The premium depends on the brand and the value of the car, the state where the vehicle is registered and the year of manufacture.

Two Wheeler Insurance - Two Wheeler Insurance in India to cover under the car insurance accident insurance for the driver of the vehicle. The premium depends on the current showroom price multiplied by the depreciation of the Tariff Advisory Committee at the beginning of the policy deadline.

Commercial Vehicle Insurance - for Commercial Vehicle Insurance under the Insurance Auto in India cover for each vehicle, not for personal purposes, such as used trucks and HMVs. The premium depends on the showroom price of the vehicle at the commencement of the insurance period, whereby the vehicle and the vehicle registration. Automobile insurance covers in general:

Loss or damage by accident, fire, lightning, self ignition, external explosion, theft, robbery or theft, malicious acts. Third-party liabilities of injury / death, third party property and liability to pay damages to the driver appropriate additional premium / claims paid on electrical / electronic accessories, auto insurance is not included:

1. Consequential loss, depreciation, mechanical and electrical damage, failure or damage
2. If the vehicle is used outside the geographical area
3. War or nuclear hazard and drink driving

Ireland

Road Traffic Act, 1933 requires that all drivers are mechanically driven vehicles in public places to have at least liability insurance or to obtain exemption - generally by depositing a series of (big) money with the High Court as a guarantee against claims. In 1933 this figure to £ 15,000  The Road Traffic Act, 1961. (It is currently in force) revoke replaced the 1933 Act, but these sections with functionally identical sections.

As of 1968, deposits are subject to the approval of the Minister of Transport to do so, with the amount indicated by the ministers.

Those who are not exempted from obtaining insurance must obtain certificate of insurance from its insurance and shows some of this (an insurance disc) on their vehicles windscreen (if any). The certificate must be presented in full to the police station within ten days if the request be presented by the. Proof of insurance or waiver should pay for road tax.

Anyone injured or suffering property damage caused or loss of uninsured drivers can claim against the Motor Insurance Bureau of uninsured drivers fund Ireland, how can they hurt (but not the suffering of damage or loss) of the criminal Hit and Run.

Norway

In Norway, you must have a minimum of liability insurance to any drive type vehicle on the road.

Romania

Romanian law mandates Răspundere Civila car, a motor vehicle liability insurance for all vehicle owners to cover losses to third parties. 

South Africa

South Africa allocates a percentage of the money from petrol into the Road Accident Fund, which ended at the third-party compensation in the accident. 

United Kingdom

In 1930, the British government passed a law that any person who uses a vehicle is required on the way to at least third party personal injury insurance. Currently, the UK law by the Road Traffic Act 1988, which was last amended in 1991 defined. The law requires that drivers be insured by a guarantee, either due to a specific deposit (£ 500,000 per 1991) with the Accountant General have the Supreme Court, against their liability for injuries, others (including passengers) and for damage to other property resulting from vehicle on public roads or other public places.

It is a crime to use a car or allow others to use it, without insurance, which take effect at the same time in the public highway (or public place § 143 (1) (a) RTA 1988 as amended the 1991 version), not but the law applicable in private property.

Road Traffic Act Only Insurance is different from any third party only insurance (see below) and are not sold often. This provides a very minimum cover to satisfy the requirements of the Act. For example Road Traffic Act Only Insurance has a limit of € 1,000,000 for property damage to third parties - have only liability insurance is usually much more on foreign property damage.

Minimum requirements for general insurance is available and who meet the requirements of the Act to be called only liability insurance. The amount of insurance from a third party basis only provided, but no longer meet the requirements of the law. This insurance covers liability to third parties, but not other risks.

More generally bought the fire, the third and theft. This includes all liability insurance and also the owner of the vehicle against vehicle damage by fire (whether hazardous or fault vehicle) and the theft of the vehicle. It may or may not cover vandalism. This type of insurance and the previous two types do not arise for damage to vehicles by the driver or other hazards.

Comprehensive insurance covers all of the above and causing damage to the vehicle by the driver himself, as well as vandalism and other risks. This is usually the most expensive type of insurance. For valuable car, many insurance companies only offer a fully comprehensive insurance.

vehicles which are legally exempt from the need to be discussed, including those belonging to certain communities and local authorities, national park authorities, education, police, fire authorities, health service agencies and security services.

Insurance certificate or letter issued by an insurance company is the legal proof that the vehicle listed in the document are covered by insurance. The law says that person in authority, such as the police may require the driver to produce an insurance certificate for inspection. If the driver does not show the document to immediately upon request and proof of insurance can not by other means such as the police computer to find the drivers are no longer issued Hort / 1. This is the command to seven days, until midnight on the day of the exhibition, take a valid insurance certificate (and usually other driving documents as well) to the police, the driver the choice. Otherwise, produce the insurance certificate is a criminal offense. The care center / 1 is well known - even by the authorities in dealing with a public issue - as "producers".

The insurance is more expensive in Northern Ireland than in other parts of England.  In 2010, the cost of motor insurance increased by an average of 33%. 

Most motorists in the UK are required to prominently display the vehicle (tax disc) drove their vehicle in storage or on public roads. This helps ensure that most people have adequate insurance on their vehicles because the insurance certificate must be produced when the plate purchased, even though insurance should be valid, which are the time of purchase and may not reflect the life of the vignette. 

Motor Insurers Bureau of compensation for victims of traffic accidents caused by uninsured drivers and untraced. It also operates the Motor Insurance database, the details of each vehicle insured in this state contains.

On 1 March 2011 the European Court in Luxembourg ruled that sex no longer be used by insurance companies to determine auto insurance premiums. New decision in the act of December in 2012. 

In June 2011 a law in force, within the meaning of the English, that all vehicles must have a valid insurance policy, if kept on a public road, if not encouraged. 

United States .....


Next To :  Auto Insurance [2] 

Tag: Home Insurance, Auto insurance, Types of insurance, Principles, Insurability, Legal, Indemnification, Efect, Insurers', business model, Underwriting and investing, Claims, Marketing, What Is Insurance ?