The value of compulsory car insurance is in addition to important information that will benefit the insured. Traffic congestion in all countries has become a normal thing, but it annoys many of us, as accidents have increased very greatly at this time, so countries expand roads, but there is no way accidents will happen. The person who owns the car resort to insurance procedures on the car in the event of any damage that is compensated with the appropriate amount for the rate of damage resulting from the accident, so insurance procedures begin between the owner of the car and the company insuring the car with a contract agreement and installment of the car owner in a monthly or yearly amount, and we will list the details of the importance of insurance The compulsory value of the insurance continued with us today.
What is car insurance?
Car insurance is a contract agreement registered in the real estate month and is concluded between the owner of the car and the company insuring the car to compensate the person who owns the car with the amount estimated to be compensated in the contract, and it is calculated according to the percentage of damage that occurred to the car. The person who owns the car may be obligated to pay monthly or annually, as well as agreeing with the insuring company to pay an amount set by the two parties to cover the required value if damages occur, and the insuring company will pay compensation as the contract agreed upon between them stipulates the required amount as well. Regular maintenance is one of the most important conditions for the insurance company, as it helps in the longevity of the car without exposing it to danger.
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Car insurance systems:
There are two types of car insurance and the first type is called third party insurance, the second type is comprehensive insurance, and third party insurance is compensation for damage to the car owner if he is exposed to a traffic accident and includes compensation for other vehicles if it is clear that the cause of the accident is the owner of the car, then the insured company compensates them as well. Comprehensive insurance defines that the damage is compensated for the owner’s car and other cars and their passengers if any damage occurs to them due to the occurrence of the accident, and the insured on the car may feel all the methods of respect and humanity provided through the company insuring the car.
Advantages of third-party car insurance:
The company insuring the car compensates the owner of the car with the estimated amount that suits the damages that occurred due to an unintended accident by the owner of the car, and most of the time the car owner feels safe and that he has taken his full rights, the premiums paid by the car owner to the insurance company are installments in fixed amounts that are not Change them over time, and the premiums paid by the owner of the car are symbolic and not high, as they are very appropriate with the compensation provided by the insuring company on the life of the owner and the car.
The negatives of third-party car insurance:
The negatives are considered according to the existing laws in the country, as they do justice to the insuring state and absolve it of all costs that may be compensated to the owner of the car, but if the owner of the car caused damage to his car intentionally and this is also revealed, the insuring company will absolve the car from paying any costs or Compensation to the car owner.
Pros of comprehensive car insurance
The company insuring the car provides complete and comprehensive insurance for the car owner, as he feels all his human security rights, and although he is the one who caused the accident, comprehensive insurance gives him compensation commensurate with the amount of damage he has suffered. Comprehensive insurance may give some other advantages to the car owner. Compensation is not only made if the car suffers an accident, but compensation is made in other cases such as being stolen or catching fire in the car.
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The negatives of comprehensive car insurance
Compared to third-party insurance, it is high in paying monthly or annual premiums, as comprehensive insurance premiums are high and not all people who own cars can pay these premiums, as many car owners resort to paying the premiums in comfortable monthly payments because they are not able to pay it once. And, some of the negatives that guarantee comprehensive insurance is that it cannot insure regular or undeveloped cars, as it insures only modern cars. Some disputes may occur between the car money and the company insuring the car, and disputes may reach the judges and go to the courts.
Information on the value of compulsory car insurance:
The insurance companies have taken into consideration that they are fully responsible if there is any death due to accidents of the insured cars that they will be obligated to pay an amount of forty thousand pounds only in cases of exposure to death and the percentage will decrease if the owner of the insured car was exposed to unintended injury. The percentage of the amount estimated by the insurance companies to compensate the injured in accidents may be about ten thousand pounds, the notification must be made by the insured person on the car or a person on his side during the first week of the accident in order for the insurance company to know about the accident and take the necessary measures to compensate the person who owns the car and know the damages That caused when the accident occurred.
The person who owns the car must submit the papers that prove the occurrence of a case of damage or a traffic accident in the car so that the company insuring the car can do the necessary and seek compensation procedures for what the accident caused in terms of damage to the car or the owner of the car. Car insurance is considered one of the most important guarantees that the car owner can return What has been wasted due to traffic accidents that occur daily on the roads, and the insurance company insuring the car may in the event that the owner of the car suffers a total or partial disability, compensate the amount of ten thousand pounds, which the insured company is obligated to pay to ensure the rights of others.
Benefits of the value of compulsory car insurance:
The person insured on the car feels fully protected from the company insuring his car, where the person who owns the car can feel comfortable driving the car and not fear of loss, which leads him to receive caution and avoid falling into disasters, car insurance works to provide the required profitability to the driver of the car, where he feels no anxiety But he must be careful when driving the car so that no harm will happen to him, because when he gets into his accident in an artificial way, it will appear in the criminal investigation that shows if the accident was contrived by the driver or not intended, and if it is discovered that the accident is fabricated, a severe punishment may be imposed on the owner. The car that caused the accident and also pay compensation to the insured company.
Insurance companies may guarantee crisis protection for society, as they protect the owner of the car from losses that will occur to him due to traffic accidents, and may include social protection to resolve the clashes and disputes that occur between car owners. The insurance companies can provide material protection and social protection for the crisis to control a traffic accident, so the insurance On cars, by the insured companies, it is considered a state of safety that the car owner feels, and his car is protected from any damage caused to it.
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We have clarified all the concepts of the value of compulsory car insurance and its benefits that are in the interest of the person who owns the car and its protection, protection of a car from damage, and full compensation by the insuring company if the car is involved in a traffic accident. I hope that the topic is sufficient and fulfilled and will benefit you.