auto insurance companies
Basic auto insurance is on to policies that can be tailored to your unique insurance needs, the best car insurance companies generally offer superior customer service, an up-to-date website where you can pay your bill or check your policy.
1Australia 2Canada 3Germany 5Hungary. 4-hong kong 6Indonesia. 7India. 8Ireland .9Italy. 10New Zealand. 11Norway. 12Romania .13Russian Federation. 14South Africa .15Spain. 16United Arab Emirate
In Australia, Compulsory Third Party (CTP) insurance is a state-based scheme that covers only personal injury liability. Comprehensive and Third Party Property Damage insurance are sold separately.
- Comprehensive insurance covers damages to third-parties and the insured property and vehicle.
- Third Party Property Damage insurance covers damage to third-party property and vehicles, but not the insured vehicle.
- Third Party Property Damage with Fire and Theft insurance additionally covers the insured vehicle against fire and theft.
Compulsory Third Party Insurance
CTP insurance is linked to the registration of a vehicle. It is transferred when an already registered vehicle is sold. It covers the vehicle owner and any person who drives the vehicle against claims for liability in respect of the death or injury to people caused by the fault of the vehicle owner or driver, but not for damage. A Compulsory Third Party Insurance is the cover which covers the third party with the repairing cost of the vehicle, any property damage or medical expenses which are encountered as a result of an accident by the insured. This may include any kind of physical damage, bodily injuries or damage to property and covers the cost of all reasonable medical treatment for injuries received in the accident, loss of wages, cost of care services, and in some cases compensation for pain and suffering. Notably, the motorist or the insured is responsible for his own loss as he is not covered for any loss in such type of insurance.
In New South Wales and the Northern Territory CTP insurance is compulsory; each vehicle must be insured when registered. A ‘Greenslip,’ another name by which CTP insurance is commonly known due to the color of the form, must be obtained through one of the five licensed insurers in New South Wales. Suncorp and Allianz both hold two licenses to issue CTP Greenslips – Suncorp under the GIO and AAMI licenses and Allianz under the Allianz and CIC/Allianz licenses. The remaining three licenses to issue CTP Greenslips are held by QBE, Zurich and Insurance Australia Limited (NRMA). APIA and Shannons and InsureMyRide insurance also supply CTP insurance licensed by GIO. In addition to the Greenslip, additional car insurance can be purchased through insurers in Australia. This will cover claims that the standard CTP insurance cannot provide. This is known as a comprehensive car insurance.
A similar scheme applies in the Australian Capital Territory through AAMI, GIO and NRMA (IAL).
In Victoria, Third Party Personal insurance from the Transport Accident Commission is similarly included, through a levy, in the vehicle registration fee.A similar scheme exists in Tasmania through the Motor Accidents Insurance Boar
In Queensland, CTP is a mandatory part of registration for a vehicle. There is choice of insurer but price is government controlled in a tight ban
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, though there is only one CTP insurer, the Insurance Commission of Western Australia (ICWA)
Several Canadian provinces (British Columbia, Saskatchewan, Manitoba and Quebec) provide a public auto insurance system while in the rest of the country insurance is provided privately [third party insurance is privatized in Quebec and is mandatory. The province covers everything but the vehicle(s)].Basic auto insurance is on to policies that can be tailored to your unique insurance needs, the best car insurance companies generally offer superior customer service, an up-to-date website where you can pay your bill or check your policy details, and a top-notch claims process that makes recovering from an auto accident as seamless as possible. Accident benefits coverage is mandatory everywhere except for Newfoundland and Labrador.All provinces in Canada have some form of no-fault insurance available to accident victims. The difference from province to province is the extent to which tort or no-fault is emphasized. International drivers entering Canada are permitted to drive any vehicle their licence allows for the 3-month period for which they are allowed to use their international licence. International laws provide visitors to the country with an International Insurance Bond (IIB) until this 3-month period is over in which the international driver must provide themselves with Canadian Insurance. The IIB is reinstated every time the international driver enters the country. Damage to the driver’s own vehicle is optional – one notable exception to this is in Saskatchewan, where SGI provides collision coverage (less than a $1000 deductible, such as a collision damage waiver) as part of its basic insurance policy.In Saskatchewan, residents have the option to have their auto insurance through a tort system but less than 0.5% of the population have taken this option.
International Motor Insurance Card (IVK)
Since 1939, it has been compulsory to have third party personal insurance before keeping a motor vehicle in all federal states of Germany. In addition, every vehicle owner is free to take out a comprehensive insurance policy. All types of car insurance are provided by several private insurers. The amount of insurance contribution is determined by several criteria, like the region, the type of car or the personal way of driving.
The minimum coverage defined by German law for car liability insurance / third party personal insurance is €7,500,000 for bodily injury (damage to people), €500,000 euro for property damage and €50,000 for financial/fortune loss which is in no direct or indirect coherence with bodily injury or property damage.Insurance companies usually offer all-in/combined single limit insurances of €50,000,000 or €100,000,000 (about €141,000,000) for bodily injury, property damage and other financial/fortune loss (usually with a bodily injury coverage limitation of €8-15,000,000 for each bodily injured person).
According to section 4(1) of the Motor Vehicles Insurance (Third Party Risks) Ordinance (Cap. 272 of the Laws of Hong Kong), all users of a car, include its permitted users, must have insurance or some other security with respect to third-party risks.
Third-party vehicle insurance is mandatory for all vehicles in Hungary. No exemption is possible by money deposit. The premium covers all damage up to HUF 500M (about €1.8M) per accident without deductible. The coverage is extended to HUF 1,250M (about €4.5M) in case of personal injuries. Vehicle insurance policies from all EU-countries and some non-EU countries are valid in Hungary based on bilateral or multilateral agreements. Visitors with vehicle insurance not covered by such agreements are required to buy a monthly, renewable policy at the border.
Third-party vehicle insurance is a mandatory requirement in Indonesia and each individual car and motorcycle must be insured or the vehicle will not be considered legal. Therefore, a motorist cannot drive the vehicle until it is insured. Third Party vehicle insurance is included through a levy in the vehicle registration fee which is paid to the government agency Samsat (Sistem Administrasi Manunggal di bawah Satu Atap), which is responsible for cars and roadsThird-Party Vehicle Insurance is regulated under Act No. 34 Year 1964 Re: Road Traffic Accident Fund and merely covers Bodily injury, and managed by a SOE named PT. Jasa Raharja (Persero)The Indonesian government has a road insurance fund which includes life insurance for traffic accidents. The annual fee is called the Compulsory Contribution Fund for Traffic Accidents or Sumbangan Wajib Dana Kecelakaan Lalu Lintas Jalan.
A Sample Vehicle Insurance Certificate in India
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. Certain documents are required for claiming auto insurance in India, like duly signed claim form, RC copy of the vehicle, driving license copy, FIR copy, original estimate and policy copy.
There are different types of auto insurance in India:
Private Car Insurance – Private Car Insurance is the fastest growing sector in India as it is compulsory for all the new cars. The amount of premium depends on the make and value of the car, state where the car is registered and the year of manufacture. This amount can be reduced by asking the insurer for No Claim Bonus (NCB) if no claim is made for insurance in previous year.
Two Wheeler Insurance – The Two Wheeler Insurance in India covers accidental insurance for the drivers of the vehicle. The amount of premium depends on the current showroom price multiplied by the depreciation rate fixed by the Tariff Advisory Committee at the beginning of a policy period.
Commercial Vehicle Insurance – Commercial Vehicle Insurance in India provides cover for all the vehicles which are not used for personal purposes like trucks and HMVs. The amount of premium depends on the showroom price of the vehicle at the commencement of the insurance period, make of the vehicle and the place of registration of the vehicle. The auto insurance generally includes:
- 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
The Road Traffic Act, 1933 requires all drivers of mechanically propelled vehicles in public places to have at least third-party insurance, or to have obtained exemption – generally by depositing a (large) sum of money to the High Court as a guarantee against claims. In 1933, this figure was set at £15,000. The Road Traffic Act, 1961 (which is currently in force) repealed the 1933 act but replaced these sections with functionally identical sections.
From 1968, those making deposits require the consent of the Minister for Transport to do so, with the sum specified by the Minister.
Those not exempted from obtaining insurance must obtain a certificate of insurance from their insurance provider, and display a portion of this (an insurance disc) on their vehicles’ windscreen (if fitted).The certificate in full must be presented to a police station within ten days if requested by an officer. Proof of having insurance or an exemption must also be provided to pay for the motor tax.
Those injured or suffering property damage/loss due to uninsured drivers can claim against the Motor Insurance Bureau of Ireland’s uninsured drivers fund, as can those injured (but not those suffering damage or loss) from hit and run offences.
The law 990/1969 requires that each motor vehicle or trailer standing or moving on a public road have third party insurance (called RCA, Responsabilità civile per gli autoveicoli). Historically, a part of the certificate of insurance must be displayed on the windscreen of the vehicle. This latter requirement was revoked in 2015, when a national database of insured vehicles was built by the Insurance Company Association (ANIA, Associazione Nazionale Imprese Assicuratrici) and the National Transportation Authority (Motorizzazione Civile) to verify (by private citizens and public authorities) if a vehicle is insured. There is no exemption policy to this law disposition.
Driving without the necessary insurance for that vehicle is an offence that can be prosecuted by the police and fines range from 841 to 3,287 euros. Police forces also have the power to seize a vehicle that does not have the necessary insurance in place, until the owner of the vehicle pays a fine and signs a new insurance policy. The same provision is applied when the vehicle is standing on a public road.
Minimal insurance policies cover only third parties (including the insured person and third parties carried with the vehicle, but not the driver, if the two do not coincide). Also the third parties, fire and theft are common insurance policies, while the all inclusive policies (kasko policy) which include also damages of the vehicle causing the accident or the injuries. It is also common to include a renounce clause of the insurance company to compensate the damages against the insured person in some cases (usually in case of DUI or other infringement of the law by the driver).
The victims of accidents caused by non-insured vehicles could be compensated by the Road’s Victim Warranty Fund (Fondo garanzia vittime della strada), which is covered by a fixed amount (2.5%, as 2015) of each RCA insurance premium.
Within New Zealand, the Accident Compensation Corporation (ACC) provides nationwide no-fault personal injury insuranceInjuries involving motor vehicles operating on public roads are covered by the Motor Vehicle Account, for which premiums are collected through levies on petrol and through vehicle licensing fees.
In Norway, the vehicle owner must provide the minimum of liability insurance for his/her vehicle(s) – of any kind. Otherwise, the vehicle is illegal to use. If a person drives a vehicle belonging to someone else, and has an accident, the insurance will cover for damage done. Note that the policy carrier can choose to limit the coverage to only apply for family members or person over a certain age.
Romanian law mandates Răspundere Auto Civilă, a motor-vehicle liability insurance for all vehicle owners to cover damages to third parties.
Motor-vehicle insurance is mandatory for all owners according to Russian legislation.
South Africa allocates a percentage of the money from fuel into the Road Accident Fund, which goes towards compensating third parties in accidents.
Each motor vehicle on a public road to have a third party insurance (called “Seguro de responsabilidad civil”).
Police forces have the power to seize vehicles that do not have the necessary insurance in place, until the owner of the vehicle pays the fine and signs a new insurance policy. Driving without the necessary insurance for that vehicle is an offence that will be prosecuted by the police and will receive penalty. Same provision is applied when the vehicle is standing on a public road.
The minimal insurance policies cover only third parties (included the insured person and third parties carried with the vehicle, but not the driver, if the two do not coincide). Also the third parties, fire and theft are common insurance policies.
The victims of accidents caused by non-insured vehicles could be compensated by a Warranty Fund, which is covered by a fixed amount of each insurance premium.
Since 2013 it is possible to contract an insurance by days as is possible in countries such as Germany and England.
United Arab Emirates
When buying car insurance in the United Arab Emirates, the traffic department requires a 13-month insurance certificate each time you register or renew a vehicle registration