Vehicle insurance is insurance purchased for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage and or bodily injury resulting from traffic collisions and against liability that could also arise therefrom.
In South Australia, Third Party Personal insurance from the Motor Accident Commission is included in the licence registration fee for people over 17. A similar scheme applies in Western Australia.
These state based third party insurance schemes usually cover only personal injury liability. Comprehensive vehicle insurance is sold separately to cover property damage and cover can be for events such as fire, theft, collision and other property damage.
The minimum coverage defined by Germany law for car liability insurance / third party personal insurance is:7.5 Million Euro for bodily injury (damage to people), 1 Million Euro for property damage and 50,000 Euro for financial/fortune loss which is in no direct or indirect coherence with bodily injury or property damage. Indeed Insurance Companies usually offer all-in/combined single limit insurances of 50 Million Euro or 100 Million Euro (about 141 Million Dollar) for bodily injury, property damage and other financial/fortune loss.
Auto Insurance in India deals with the insurance covers for the loss or damage caused to the automobile or its parts due to natural and man-made calamities. It provides accident cover for individual owners of the vehicle while driving and also for passengers and third party legal liability. There are certain general insurance companies who also offer online insurance service for the vehicle.
Auto Insurance in India is a compulsory requirement for all new vehicles used whether for commercial or personal use. The insurance companies have tie-ups with leading automobile manufacturers. They offer their customers instant auto quotes. Auto premium is determined by a number of factors and the amount of premium increases with the rise in the price of the vehicle. The claims of the Auto Insurance in India can be accidental, theft claims or third party claims.
The UK government introduced a law that required every person who used a vehicle on the road to have at least third party personal injury insurance. Today, UK law is defined by the Road Traffic Act 1988, which was last modified in 1991. The Act requires that motorists either be insured, have a security, or have made a specified deposit (£500,000 as of 1991) with the Accountant General of the Supreme Court, against their liability for injuries to others (including passengers) and for damage to other persons' property, resulting from use of a vehicle on a public road or in other public places.
The regulations for vehicle insurance differ with each of the 50 U.S. states and other territories
1.The insured party (medical payments)
2.The insured vehicle (physical damage)
3.Third parties (car and people, property damage and bodily injury)
4.Third party, fire and theft
5.In some jurisdictions coverage for injuries to persons riding in the insured vehicle is available without regard to fault in the auto accident (No Fault Auto Insurance)
Australia:
Third Party Personal insurance from the Transport Accident Commission is similarly included, through a levy, in the vehicle registration fee.
These state based third party insurance schemes usually cover only personal injury liability. Comprehensive vehicle insurance is sold separately to cover property damage and cover can be for events such as fire, theft, collision and other property damage.
Germany:
India:
Auto Insurance in India is a compulsory requirement for all new vehicles used whether for commercial or personal use. The insurance companies have tie-ups with leading automobile manufacturers. They offer their customers instant auto quotes. Auto premium is determined by a number of factors and the amount of premium increases with the rise in the price of the vehicle. The claims of the Auto Insurance in India can be accidental, theft claims or third party claims.
Loss or damage by accident, fire, lightning, self ignition, external explosion, burglary, housebreaking or theft, malicious act. Liability for third party injury/death, third party property and liability to paid driver On payment of appropriate additional premium, loss/damage to electrical/electronic accessories The auto insurance does not include:
*Consequential loss, depreciation, mechanical and electrical breakdown, failure or breakage
*When vehicle is used outside the geographical area
*War or nuclear perils and drunken driving
United Kingdom:
United States:
1.The insured party (medical payments)
2.The insured vehicle (physical damage)
3.Third parties (car and people, property damage and bodily injury)
4.Third party, fire and theft
5.In some jurisdictions coverage for injuries to persons riding in the insured vehicle is available without regard to fault in the auto accident (No Fault Auto Insurance)
