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General rights of the owners of the compulsory Civil Responsibility insurance policy

General rights of the owners of the compulsory Civil Responsibility insurance policy

Last change: 19.03.2013
Topic: Motor Insurance

The Financial Supervision Commission (FSC) has launched today a new online portal which aims to increase the financial literacy of the consumers. The site provides possibility for responses from the experts, comprehensive information on financial products and advices to consumers.
Today we will present you the rights of automobile drivers, after they have concluded the compulsory Civil Liability insurance policy:

 

- No insurance company that is providing compulsory insurance service, has the right to deny you the implementation of this type of insurance;

- A right to arrange the manner of payment of the insurance premium in the insurance contract – the entire sum in one payment or in installments;

- A right to get into a contract for an insurance sum that is beyond the minimum requirements established by the law;

- A right to get insurance policy from the insurance company and a sign issued by the Guarantee Fund, as a certificate for the contract signed;

- A right to have the insurance company cover the damages you have caused to third persons or property, in the event that you were driving the car and you were not under the influence of alcohol or other intoxicants;

- A right to have the Guarantee Fund cover the damages that are caused to third persons or property, in the event that the car has been stolen before the accident;

- A right to receive compensation by the insurance company within 15 days after you have submitted all requested documents related to the establishment of the event and the amount of the damages, but no later than three months from the date of filing the insurance claim;

- A right to have the insurance company give its conclusion on your request for compensation within the three months period, setting the amount of the compensation or providing a well-grounded position for refusal of the payment, if the insurance company refuses to make a payment or when the reasons or the amount of damages are not fully established;

- When the automobile is sold and the vehicle is transferred, the new owner shall get your rights arising from the contract signed, in which case there is an obligation for both you and the new owner, to inform the insurance company of the ownership transfer made.

According to the latest data presented, the mandatory insurance policy covers nearly 82% of the vehicles.


Source: www.insurance.bg

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