Showing posts with the label Car Insurance

5 tips for car tourists (Green Card)

5 Tips for Car Tourists (“Green Card”) To ensure that your car trip abroad goes smoothly, consider these 5 tips from MTIBU Director General Volodymyr Shevchenko on how the international system of motor third party liability insurance “Green Card” works. Tip #1. Preparation is half the battle When you plan to travel abroad by car, take care not only of preparing your own documents, but also check in advance whether you will be able to cross the border. One of the prerequisites for crossing the border for a car owner is a valid Green Card certificate. It is better to buy it at the offices of full MTIBU member insurers that have the appropriate license, rather than relying on the possibility of concluding a contract directly at the border. Today, 10 insurers have the right to conclude such contracts. Important: the Green Card policy is concluded in paper form; there is no electronic version of the policy yet. Tip #2. It is better to overpay than to get a fine There are two categori...

Insurers and fraudsters - the confrontation continues, the formats are changing How are strategies and tactics in the fight against insurance fraud changing? What threats and dangers await insurers and the insurance market in the "digital future"? These and other questions will be answered by Igor Fatyanov, Chairman of the Insurance Fraud Control Committee of the All-Union Insurance Association. How will insurance fraud and abuse of rights in automobile insurance change in connection with the development of information technology? Does digitalization work to the advantage of insurers or fraudsters? Are there examples of "high-tech" fraud that have been detected or prevented? Of course, fraudsters are mastering the digital space. The most common cases (which are now more or less dealt with) are fake websites issuing fake CMTPL policies and the use of Internet sales for fraud. I don't take cyber-risks yet, because they are not so often realized in Russia. On t...

CASCO: Fraud with contracts

CASCO: Fraud with contracts It is not uncommon to encounter situations in which from the insurance company with which an automobile collision insurance contract has been concluded attempts to obtain payment illegally. Let's look at the most common cases. TOP-5 Illegal methods of enrichment in motor hull insurance Unscrupulous policyholders come up with many different ways to outsmart the insurance company and illegally enrich themselves. But for each method of fraud, the insurer has its own countermeasure. Double car insurance Fraudsters use this method when the car is already damaged at the time of insurance. Then they find a car of the same make and color and come to insure it with the documents of the damaged car, hoping that the body and chassis number will not be checked. However, when concluding a car insurance contract, an employee of the insurance company is obliged to check the data of the car recorded in the documents with the actual data. Replacement of a drunk dr...

Car insurance: the main points

Car insurance: the main points "You call on God, but you have to do it yourself". This proverb is very applicable to the topic of risk insurance. When you buy a car, you want to think only about the positive aspects of its use. And this is correct. However, you should not forget that a car is a means of increased danger and, therefore, increased responsibility. After all, its operation involves risks of harm to the vehicle itself, its owner, and third parties. Therefore, we hope for the best, but do not forget about the need to insure our liability (possible risks and losses). The legislator also thought about this, providing for mandatory forms of insurance for vehicle owners. In addition to compulsory insurance, no one deprives car owners of the right to additionally use voluntary insurance. In this section, we will consider in detail all the most important issues that may be related to vehicle insurance. Insurance is a rather specific type of activity. Therefore, bef...

How to Start a Auto Insurance Business Auto Insurance as a Business The number of car enthusiasts and car owners is constantly increasing, which means that auto insurance services are becoming more and more in demand. It is important for a potential founder of an auto insurance business to know the basic nuances operating in this field, as well as the most important steps needed to establish an insurance agency. Auto Insurance: The Nuances of the Business If you want to start a business related to auto insurance, it is important to understand the differences between the concepts of an insurance company and an agency. In addition, it is necessary to immediately determine the areas of the insurance business that are of interest to the future owner of such a business. Thus, it can be a full-fledged insurance company specializing in concluding insurance contracts, and in addition, the scope of such a company will include the implementation of payments under the contracts. The creation...

What do I need to know about MTPL? Good drivers, if they know anything about MTPL, have never resorted to insurance companies. The main thing is that the policy is always in the glove compartment of the car. But what to do in case of a claim? MTPL is a mandatory civil liability insurance policy for vehicle owners. The peculiarity of MTPL is the compensation of losses and damages caused to another car, life and health of passengers. MTPL insurance rates are set by the state and it is forbidden to drive on the road without MTPL insurance. Universality and compulsory insurance The most important thing to know about the policy of MTPL insurance is that it regulates compensation for losses and damages that you, not the other party, caused to third parties - the vehicle, life and health of passengers who were in it. By insuring your third party liability, if you are at fault, you get rid of the burden of compensating for the damage caused. Losses caused by your actions to the other part...

CASCO Insurance

CASCO Insurance CASCO (from the Italian word casco - helmet) is the insurance of a vehicle against risks that may arise during the operation of the vehicle. "Full CASCO" means insurance against all possible risks, while "partial CASCO" covers only some risks. CASCO insurance means only insurance of the vehicle itself and does not include insurance of liability to third parties, insurance of the driver and passengers, property (cargo insurance) transported in the vehicle. Objects of insurance The subject of the motor hull insurance are means of land transport - trucks, cars, special cars, motorcycles, trailers and some other vehicles owned by legal entities or natural persons, including additional equipment and facilities, which are in the possession of the Insured on the basis of ownership, use or disposal. The insurance is provided at rates that depend on the type of vehicle, its age, value, type of use and storage conditions. This type of insurance also tak...

5 best insurance tips for millennials

5 best insurance tips for millennials Adulting (verb) - acting like an adult or engaging in activities usually associated with adulthood, often responsible or boring tasks. If you’re a millennial, you know this definition all too well. You’ve reached the age where you may be taking out student loans, buying or renting a place to live, having kids and, ultimately, purchasing insurance. These major life events for millennials make it extremely important to have a financial security net. And that’s exactly what insurance is: a financial security net. So it’s troubling that a survey from Princeton Survey Research Associates International named millennials the most underinsured generation. There are many reasons why people of all generations avoid purchasing insurance. It‘s often seen as a big investment, but that doesn’t necessarily mean that it’s an expensive one. In fact, insurance probably costs less than you think. For instance, according to the National Association of Insurance Co...