An insurance contract is a contract between an insurance company and a person (or a company). It provides compensation by insurance in case of loss covered by the contract. In return, the insured must pay annually a certain sum called premium.
The insurance contract contains two parts:
“Conditions”: this part is common to all insured details and explains all the guarantees
“Special Conditions”: this part is an adaptation of the general situation of each insured.
How to ensure your vehicle?
You can insure the vehicle:
– A representative of an insurance company (or general agent bank)
– A broker
– A direct purchase contract with the insurance without intermediary (possible on the Internet)
How to cancel the insurance contract?
Termination of the contract may be requested by the insured or the insurer. The insured may terminate the contract:
Maturity of the contract, in accordance with the notice provisions in the notified thereof;
– If he sells his car;
– If the insurer increases the cheap no deposit car insurance premium, unless such increase is due to the bonus-malus;
– If he changes of residence.
The insurer may also terminate the contract if the insured:
– Do not pay premiums;
– Making false statements;
– Was drunk during an accident;
– Is subject to a license suspension lasting more than 1 month.
How much cost the car insurance?
– Calculation of premium
The insurer must assess the risk of each driver to establish a contract proposal. Depending on the risk, he made a proposal to the insured. To evaluate this, it takes into account several parameters such as the type and age of vehicle, age and sex of the driver, where they live, the use of the vehicle (personal, professional …) etc…
The amount of the premium and the corresponding guarantees vary from an insurance company to another.
Originally posted 2013-07-11 12:19:03.