The insurance of liability of vehicle owners is the best known type of civil liability insurance. It started to develop rapidly in the 20ies years of XX century vehicular traffic became more intensive and risk of accidents has significantly increased. Currently in the most of developed countries car insurance should be made in binding form. […]
The insurance of liability of vehicle owners is the best known type of civil liability insurance. It started to develop rapidly in the 20ies years of XX century vehicular traffic became more intensive and risk of accidents has significantly increased. Currently in the most of developed countries car insurance should be made in binding form. And in many European countries (for example Finland, Norway, Denmark, Britain, Germany and others) the obligatory car insurance was introduced before the Second World War. This is due to the desire of authorities to provide victims of road accidents with the guarantee compensation for harm. On the other hand, the mandatory form of insurance operations, resulting in almost complete insurance coverage available to a country’s fleet of vehicles (as a rule, the part of uninsured cars consists 1-6% of all the vehicles) makes this type of insurance one of the leaders of the amount of collected insurance premiums.
Under the terms of civil liability of vehicle owners insurance contract insurers assume the obligation to reimburse the damage caused by the insured (the insured) during operation of vehicle to the third persons within a specified liability limits. But there also is a condition that such damage to the third persons must be compensated by the insured (the insured) in accordance with legislation. Insured persons in this case could be both legal entities and individuals. Both the liability of the insured and other persons being specified in the vehicle contract can be insured.
The object of vehicle insurance is the property interests of car owners with regard to his duty in the manner prescribed by civil legislation to compensate the damage caused to third parties in the process of vehicles exploitation. In this case contract terms should be applied, as a rule, exclusively on vehicles specified un the contract.
The insurance contract may stipulate: the circle of persons entitled to drive an insured vehicle; the area for the accident within which the insurer is liable, and other restrictions. Terms of insurance may include obligations of the insurer to pay damages caused to third parties because of the behavior of the passengers of the insured means of transport or other persons using them (for example, when a passenger opens the car door and knocks a cyclist riding behind).
A document confirming the fact of conclusion of the car insurance contract must include the following information:
Registration number of the insured vehicle or its description (under vehicle is meant a vehicle belonging to the insured or acquired by him in installments);
• Name, surname and other information about the insured;
• Date of signing the car insurance contract;
Date of termination of the contract;
• Information about person or persons authorized to drive the vehicle;
• Restrictions on the use of a vehicle (e.g. truck can not be used for passenger transportation);
• Declaration of conformity of certificate with the laws of the country in which it was issued.
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