This type of the insurance aims to protect the vehicle against possible risks and damages caused by natural force major events, intentional or unintentional actions by a third party, robbery or burglary, while the vehicle was moving or parking.
Possible risks against the vehicle
- Intentional action by a third party;
- Plumbing risk;
- Natural force events;
- Robbery, burglary;
- Driver’s sudden accident.
List of required documents
- Information about the owner- ID card, certificate of the legal entity;
- The vehicle certificate and other documents;
- The vehicle name, model, serial number and other information;
- Market value of the vehicle or financial documents of purchase**.
List of materials for insurance claims
- Application by the insured;
- Review made by relevant organizations ( for example, accident report by Traffic Police);
- Damage evaluation report;
- Insurance contract, original copy of the insurance policy;
- ID cards and driver’s licenses of the drivers involved, the vehicles ID-s;
- Other required materials.
* An insurance company has different types of risks and associated rates vary for that particular property to be insured.
** Though the insurance valuation fully depends on the choice made by the insured, the insurer usually advises to determine the insurance valuation at a rate equal to market value because if an insurance accident occurs, percentage of the damages to be indemnified is defined based on the pro-rata allocation principle .