Insurance is one of the essential documents for any motor vehicle. Whether you have a motorcycle, an off-road vehicle or a truck, you must be insured? At first glance, this seems simple. However, things get complicated when you want to buy, use or terminate an insurance contract. What do you need to know about this?
Are you familiar with third party coverage or “civil liability”?
First, it is essential to specify that the purchase of insurance is inevitable. Regardless of the type of car you use, it is imperative to be insured. On the other hand, a simple subscription is more than enough. You don’t need to choose a complex formula. All you must do is take out liability insurance. The latter provides coverage for damage caused to third parties. If you drive a car that is not insured, know that you are not complying with the law. This is a punishable offence. That is why it is preferable not to postpone the purchase of insurance.
Third party coverage is also known as “civil liability”. As its name suggests, it makes it possible to pay for material and physical damage suffered by third parties. In other words, the insurance covers victims (pedestrians, passengers, cars that have collided with yours…) in the event of an accident. This type of insurance is mandatory, even for cars that are not in circulation and that park in public property. In general, all land-based motor vehicles must be insured.
Why choose all-risk insurance?
Unlike third party coverage, all-risk insurance includes repairs to your equipment and the care of your personal injuries. Before signing the contract with the company, it is crucial to read it carefully. According to a recent study, one out of two “all-risk” car insurance policies does not consider the driver’s coverage. It also happens that these previous guarantees are insufficient. To avoid unpleasant surprises, the best solution is to take the time to read the contract.
What you need to know about maluses and bonuses!
Did you know that almost all motor vehicles are covered by the “bonus-malus” clause? Indeed, two wheels with a displacement less than or equal to 80 cm3 are not considered. The principle is simple, if you are a good driver, you will receive a large bonus at the end of the year.