Asigurarea masinii si contractul de asigurare in Romania(limba engleza)

Trimis la data: 2011-08-19
Materia: Drept
Nivel: Facultate
Pagini: 19
Nota: 8.09 / 10
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Autor: Criss
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Third Party Vehicle Insurance: Most countries require third party insurance by law. Many states have a specified minimum limit for third party insurance. It pays for the loss that occurred upon another person's property. This applies in case of an accident in which the insured vehicle is deemed responsible. It protects the policyholder against financial liability towards the affected party. Third party insurance can be further divided into physical damage liability insurance and bodily injury liability insurance. Physical damage liability insurance pays for the repair of the damaged third party vehicle. Meanwhile, bodily injury liability insurance covers the medical expenses incurred by the third-party due to an accident.
Collision Vehicle Insurance: This type of vehicle insurance covers damage to the insured vehicle in case of an accident. In this type of insurance, the term 'accident' refers to collision with another car or an object resulting in loss of control leading to total damage. Collision policy comes with a deductible, which is the amount that an individual has to pay beforehand itself. Apart from the legally mandatory third party insurance, collision cover is also essential to avert financial damages.

Comprehensive insurance cover means that you will be covered in most circumstances, including damage, theft or hijacking, as well as injury to others and their property. If your car is financed by the bank you are required to have Comprehensive cover. This insurance covers you for the cost of towing and storage, medical costs in the event that a passenger is injured, and liability to other people and/or drivers. Liability is an important element of insurance, as it will aid you in compensating other people who have suffered damage to themselves or property as a result an accident which you are legally responsible for.
Comprehensive insurance cover is therefore an option that covers a broad spectrum of insurance needs, and can be extending to also include the contents of your vehicle. Additionally insured items may therefore include electronic and sound equipment, as well as other specified items such as mag rims, boot spoilers and cell phone car kits.

Most automobile insurance contracts are schedule contracts that permit the insured to purchase both property and liability insurance under one policy. The contract can be divided, however, into two separate contracts -one providing insurance against physical damage to automobiles, and the other protecting against physical damage to automobiles, and the other protecting against potential liability arising out of the ownership, maintenance, or use of an automobile. Some automobile insurance contracts, notably those issued by insured associated with automobile finance companies, cover only physical damage insurance.

3. Types of contracts
By voluntary agreement many automobile insurers use the same standard contracts, but others, including the four largest writers of automobile insurance, have designed their own. All automobile insurance contracts, however, are so similar that an analysis of the standard contracts will enable the reader to understand the most important provisions in most, if not all, automobile insurance contracts.Two standard automobile insurance contracts can be used by businesses. The first is the business auto policy (BAP), designed for corporations and partnership insuring any type of automobile (for example, private passenger automobiles, trucks, or taxis) or for sole proprietors insuring any automobile other than a private passenger.

Under the ISO commercial lines program, the BAP has become the commercial automobile coverage part that consist of business automobile coverage from declarations and a business automobile coverage form. The BAP can be written as the only coverage part in the policy or as one of two or more parts of a commercial package policy (the CPP discussed earlier).The second contract is the personal auto policy (PAP), designed primarily for nonbusiness automobiles, but which sole proprietors can purchase to insure private passenger automobiles used in their business. Both of these policies are written in more simplified and readable language, than the standard contracts they replaced in the 1970s.
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