Obligatory third party insurance
If you intend to use a car,
motorbike, moped or other motor vehicle on public roads you are obliged by law
to take out third party insurance. The latter will pay for the damage you might
inflict on others when using your vehicle. This way the legislator ensures that
victims are not left high and dry. The term ‘victim’ is subject to a wide
interpretation, i.e. ranging from the other party to the passengers in the
vehicle that has caused the accident.
In fact only the person
responsible for the accident is not compensated. In most cases this will be the
driver. It is advisable, therefore, to take out physical accident cover in
addition to the obligatory insurance, so that you (as the driver) receive
compensation in the event of physical injury.
Who is insured?
Motor insurance provides third
party cover for the driver of the vehicle and also covers the liability of any
passengers in the vehicle. There is only one exception to this; if your car is
stolen your motor car insurance
will not provide third party cover for the thief. In fact motor insurance
policies provide very extensive cover.
In some situations, however,
the insurer has the right to reclaim a portion of the sum they paid to the
victims from the insured party (e.g., when the latter was inebriated at the time
of the accident or did not have a valid driving licence).
Comprehensive: is it really
complete cover?
If you are involved in an
accident and you are to blame your third party insurance will reimburse the
other party. But what about your own car? You will have to pay for the damage
yourself, unless you have comprehensive cover. Or, in the unlikely event that
you are distracted and end up in a ditch or run into your own garage door,
comprehensive insurance will also cover the damage to your own car. The same
applies if someone else is driving your car and causes an accident resulting in
damage to your car.
Your insurer will pay for the
damage to your car and will not reclaim it from the driver. The latter will,
however, have to pay the excess, which is always applicable to comprehensive
insurance. The excess is a previously arranged amount, which the insured party
will have to pay at all times. It has a dual purpose, i.e. to encourage the
insured party to drive carefully to ensure that the premium is contained.
[Source: http://www.blbe.be/en/car-insurance]
No comments:
Post a Comment