What are the types of vehicle insurance?

What are the types of vehicle insurance
What are the types of vehicle insurance




 Definition of the insurance contract:


It is a contract with two parties, the insurance company is the first party and the insured is the second party.

The insurance contract consists of the following:


Insurance request: It is the basis of the contract, the insurance applicant fills it and answers all the questions mentioned in it according to his knowledge and without exception to any question.
Insurance policy or contract: It is the coverage that is granted to the insured after submitting the application and paying the insurance premium.

Motor vehicle insurance:


It is the most common type, and since the types of vehicle insurance applied in the local market are three types, it is useful to know each of them with some brevity.

a. Compulsory insurance or the so-called compulsory:


 It is the type of insurance imposed by the law and obligates it to everyone who owns a vehicle moving on the roads and this type of insurance covers the responsibility of the insured and the driver of the vehicle towards others (the third party) for what the insured vehicle may cause them from physical injuries.

According to the Compulsory Insurance Law, the insurance company is responsible for compensating the injured people who are inside the insured vehicle, as well as the injuries caused by the vehicle to pedestrians on the roads, regardless of whether there is a mistake by the driver or not, and the liability of the insurance company for physical injuries according to the law is not limited in value. Responsibility for:

Provide medical treatment for the injured until he has fully recovered or his condition has stabilized
Compensating the injured for all financial obligations incurred as a result of the accident.
Compensating the injured for the loss of temporary and permanent income that may be incurred as a result of the injury.
Compensating the injured for the psychological damage sustained as a result of the injury

B. Third party insurance (third party liability insurance):


The word third party means here the third party, and this type of insurance covers the responsibility of the insured or the driver of the insured vehicle for the material damage that this vehicle causes to the third party (the third party).

C. Supplementary insurance (comprehensive for the vehicle body):


This type of insurance covers damage that may occur to the vehicle’s body as a result of a road accident, as this type of insurance complements what is covered by compulsory insurance and third party insurance.


Auto insurance tariff

Compulsory insurance and third party tariff:


The insurance premium for each vehicle for this type of insurance is determined according to the following data:

Special vehicles: The premium is determined based on the size of the motor (engine power) and divided into several segments.
Commercial Vehicles: The premium is determined based on the type of vehicle license and its load and divided into several segments.
Public taxi cars: the premium is determined based on the number of passengers in the vehicle and whether one or two drivers are specified to drive the vehicle.
Public and private buses: The premium is determined based on the number of passengers and divided into several segments
Rental cars: The premium is determined based on the engine’s power for private cars or a payload for commercial vehicles, taking into account the addition of an additional premium to the regular tariff divided into several segments.
Heavy equipment: Tractor - bulldozers - rollers ...... etc have their own tariffs.
Supplemental insurance tariff:

The premium is calculated on the basis of a certain percentage of the amount of insurance (the value of the car) within a price table, which is determined according to principles that correspond to the size of the risk.

Insurance certificate or policy schedule.


The following certificate shows the insurance certificate:

The name, address and identity of the insured
Insured vehicle data
The beginning and end of insurance
Installment agreed.
Type of coverage (mandatory / third party / supplementary)
Insurance amounts, limits of liability and accident fee for each type of insurance coverage
The bank seal is very necessary because it determines the time and hour for insurance to start running.
Some agreed terms, limitations and exceptions
General Instructions

Before choosing the insurance company that will be entrusted with the insurance of your vehicle, you must make sure of the following matters:

That the company has a valid work permit issued by the Insurance Supervision Department.
That the company be able to fulfill its financial obligations and that its financial position is sound
That the company has the necessary reinsurance coverage, and companies that are financially capable of meeting its obligations
That the company has branches throughout the country that have powers to deal with accidents, regardless of where they occur.