This insurance
provides compensation in the event of occurrence of any material or bodily loss
caused to others but also to yourself. Auto or motorcycle insurance includes a
part of compulsory insurance and an optional part.
It is since
1958 that civil liability is obligatory in automotive contracts. This guarantee
allows you to cover third parties against the damage that the driver of the
vehicle is likely to cause them. Third parties are involved in an accident
caused by a driver. It can be one of the members of the family of the insured,
or any other persons. But in any case the insured itself.
In addition to
this first warranty, others more optional can be added to the contract such as
theft, fire... These various safeguards to protect the driver against all kinds
of hazards for which it wishes to be reimbursed for the costs incurred.
This principle
allows to financially reward good drivers and penalise bad. This system, also
called reduction-enhancement provision, varies the auto insurance contribution
based on the good or bad conduct of the insured. Each year a new factor is
determined by the number of accidents of which the insurer has determined the
driver responsible. This new coefficient used to calculate the contribution of
the coming year.
Initially, the
coefficient is always "1", then it evolves through 12 months of
insurance and 5% upward or downward.
Thus, the
maximum factor "good driver" is obtained after 13 years of no fault
accident insurance.
On the other
hand, responsible for accident insurance contribution increases by 25%. That
is, the coefficient is multiplied by 1.25 for each accident, with a maximum
markup in the same year set at 350%, i.e. 7 fault accidents in the year. The
maximum of malus applied to a driver cannot exceed Meanwhile 400% with several
accidents over several years.
Particular
case: during an accident, it may be engaged the responsibility of the authors. This
is the case of an accident in which two drivers are considered wrong. The malus
will then be half for each driver, or 12.50%, i.e. a multiplier of 1.125.
It was after 2
years of insurance accident-free head as malus disappears back to the level of
the previous factor.
Car contracts
often include different deductibles depending on companies and the type of
loss. The deductible is an amount that remains your responsibility when you ask
for support from your insurer for a guaranteed disaster. Amounts of deductibles
are high, more insurance contribution will be small, because the insurer will
be less to repay for each recorded claim.
It is a
document that traces the past of a person as the insured and containing the following
information:
·
the usual
drivers designated,
·
the number,
nature, and the share of responsibility of registered claims,
·
the coefficient
of reduction-increase (or Bonus/Malus).
This document
is required when an insured wishes to change insurance company and be resumed
at its level of bonus or malus.
The green card
or insurance card is the document issued by the insurer to prove that the
vehicle is properly insured. The paper must always be in the possession of the
driver as well as the gray card and driver's licence. This green card has a
detachable label to be placed prominently on the windshield of the vehicle.
Also on the back of this card, you will find the list of countries in which
guarantees are valid.
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