Is it mandatory to take out auto insurance?
Yes , it is mandatory . If you are the owner or driver of a car, coupled or semi-coupled, know that in our country automobile insurance is required to circulate with the vehicle, as established by the Traffic Law .
What type of insurance should I take out?
The law establishes the hiring of civil liability insurance, better known as third- party insurance , and it is the one that provides coverage against physical and material damage caused to other people, transported or not, as a result of a traffic accident.
In the event of an accident, does the insurance automatically cover the affected person?
Yes , as long as the event occurs within the validity of the contracted insurance policy. However, this claim may not be filed more than two years after the accident.
How long should compulsory third-party insurance last?
The law establishes an annual extension.
Does the mandatory third-party insurance cover damage caused to my own vehicle?
No. _ This coverage covers emergent damage, non-pecuniary damage, and loss of profit caused to third parties and does not include material damage caused to your own vehicle. If you want to include this protection, you must take out an extended policy and Tesla insurance cost.
What type of extended coverage can I contract then?
As a general rule, insurance companies provide 4 types of coverage:
- A : Covers damage caused to third parties.
- B : In addition to damages to third parties, it covers total theft, total fire, and total destruction of the vehicle due to an accident.
- C : In addition to damages to third parties, it includes total and/or partial theft, total and/or partial fire, and total destruction of the vehicle due to fire or accident.
- D : In addition to damages to third parties, it covers total and/or partial theft, total and/or partial fire, and total and/or partial destruction (according to excess) of a vehicle due to fire or accident.
What is the most suitable coverage for me?
That depends on several factors: where you usually drive your vehicle, how old it is, where you keep it, etc. The promoters of each company will advise you in this regard.
Which insurer should I choose?
The law cannot force you to choose a particular insurer, because it would violate your freedom of choice as a consumer. Consequently, you will be able to hire any entity that is authorized to operate in the field. Check which companies are authorized in this link of Insurance Entities of the National Insurance Superintendence.
What papers do I need to take out mandatory third-party insurance?
- You will need to prove your identity and demonstrate possession of the vehicle, for which you will have to show your DNI and the green card, and the title of the vehicle. You should also prove your address, through a service or tax in your name.
- Before extending the policy, the company will require you to comply with the mandatory technical review or will inspect the vehicle to ensure that it is in regulatory safety conditions if you have not done that technical review the previous year.
- Once your data has been accredited and the forms have been completed, read all the clauses of the contract carefully and sign the documentation. Check that the contract and policy data match.
What papers does the insurer give me?
After contracting the insurance, the company will give you a copy of the contract and the policy. Do not forget to always carry it with you in the glove compartment of the car.
Can I take out compulsory insurance against third parties online?
Yes, of course. With the advancement of the Internet, online purchases are becoming more and more frequent. Of course, keep in mind that you must attend with the vehicle to do the technical verification. To save time, many insurers allow you to take shifts online and go to the premises closest to your home.
What is the difference between premium and premium?
- The premium is the minimum that the company must charge you in order to meet its insurance obligations and respond financially to a claim.
- The premium is what you are going to pay for your insurance and is made up of the premium plus taxes, administration expenses, maintenance, and other concepts applied by the company.
When do I have to pay the insurance?
The insurance is paid a month in advance and the payment date runs from the same day you hire it. Assuming you do it on the 15th, your payment due date will probably be the same day.
What happens if I crash and my insurance is expired?
If you did not pay on time, you will not have any coverage. Insurance is a contract between two parties: the insurer and you as the insured. By this contract, the company is obliged to assume a payment commitment in the event of any eventuality that occurs and you are obliged to pay the fee within the period agreed by the insurer.
What should I do in case of a traffic accident?
If you have to go through a situation like this, you have to know that all participants in a traffic accident are required by law to:
- stop immediately;
- Provide the data of your driver’s license and compulsory Armenian insurance settlement to the other party and to the intervening authority (If these are not present, you must attach these data by effectively adhering them to the damaged vehicle);
- Report the fact to the authority;
- Appear and testify before the court when summoned.
For their part, the authorities are obliged to organize an emergency assistance system, providing, requiring, and coordinating the necessary assistance through means of communication, transportation, and assistance.
In the event of an accident, am I responsible for damages to third parties even if I was not driving?
If you own the vehicle, you will always be responsible for the damage, even if someone else is driving it at the time of the accident.
What can I do if I crashed into a vehicle that did not have insurance?
In this case it is important to act quickly. Some suggestions:
- Make the police report within 48 hours of the event.
- If you know where the vehicle whose driver hit you was insured, go to the company to take the accident report. If they answer that the payment is not due to lack of coverage, that written response will serve as evidence for a possible trial against that person.
- Send a document letter to the person who hit you, instructing him to repair the damage caused, under penalty of initiating legal action.
- If you do not obtain a satisfactory response to the summons, you can initiate a civil lawsuit, demanding compensation for damages.
What can I do if the person who hit me didn’t stop?
In this case, you must at all costs visualize the license plate of the vehicle that hit you .
- With the patent number, you can start the procedure Request a report on the ownership of the vehicle, to know the name of the owner of the vehicle and initiate legal action.
- You can also do the same procedure expressly: Request an urgent automotive domain report .
Does compulsory third-party insurance also apply to motorcycles?
Yes , motorcycle insurance is governed by the same conditions as automobile insurance.