What documents do I need to insure my vehicle?
The following documents are required
for auto insurance:
- Copy of Driver's license (diploma).
- Copy of vehicle registration.
- Invoice for purchase of new vehicles.
Which factors form the premiums of the car?
The pricing is done by each insurance company based on the risk factors that each company has assessed as critical and important for that purpose. For example, usual factors affecting the cost of an insurance policy are as follows:
- Age of the driver.
- Use of the vehicle (passenger car, truck, etc.).
- Vehicle characteristics (horsepower, value, etc.).
- The damage history.
- Different options for payment.
- The geographic region in which the vehicle is normally driven.
Are there exceptions to third party liability coverage?
The law provides for three exceptions to third-party liability insurance:
- Damage caused by a driver who does not have the statutory driving license.
- Damage caused by a driver who, at the time of the accident, was under the influence of alcohol or toxic substances, provided that the infringement is in causal connection with the accident.
- Damages caused by a driver who uses his vehicle for a different use from that provided for in the insurance policy and in his / her license if such use correlates with the cause of the accident.
In such cases, the insurance company pays compensation to the third party and is entitled to subrogation against its insured and to claim what he has paid to the injured third party.
What is the amicable settlement of losses?
It is an agreement between insurance companies, which is subject, under certain conditions, to compensation for motor vehicle accidents. It is a way of compensating for and managing material damage and minor bodily injury, which primarily leads to saving time, as well as reducing legal disputes. In particular, with the amicable settlement, the person who is not, or to the extent that he is not responsible for the accident, is compensated by his own insurance company if the following conditions are met:
- The insurance companies of the vehicles involved participate in the amicable settlement system.
- Compensation for damage to property does not exceed € 6,500 per accident and for any injuries of € 30,000 for each accident with a maximum of € 12,000 per person. In the event of an accident involving more than two vehicles, the applicable limit of material damage is applied per settlement between two vehicles.