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Auto insurance - BTS Insurance course
In this article we will see the basics of auto insurance.
What is auto insurance used for?
Insurance is omnipresent in the daily life of the French. Auto insurance is a guarantee that allows you to be covered in the event of a loss. In many situations, auto insurance helps you cope with difficulties. There is an obligation to insure all land motor vehicles, passenger cars such as:
utilities,
the two and three wheels,
motorcycles and scooters,
Quads,
even ride-on mowers.
This obligation extends to vehicles:
without license,
two or three wheels not approved (mini-motorcycles),
as well as vehicles that are not moving. Like vintage vehicles.
What does an auto insurance contract consist of?
In most companies, we find 3 guarantee formulas:
The third-party formula;
the guarantee that every driver must have, is the civil liability guarantee. This warranty covers damage that the driver (s) of the vehicle could cause to others. The damage can be to a pedestrian, or to another vehicle or to the passenger of the car.
This formula also contains a defense and recourse guarantee. This guarantee covers part of the legal costs in the event of a dispute. The defense and recourse guarantee only comes into play with the contract to which it relates.
For example, if we have a defense and recourse guarantee with an auto contract, it will only intervene for disputes related to this contract.
The third party formula allows you to pay the minimum insurance contribution. Insurers recommend this insurance for young drivers with vintage cars. Who says low contribution means little guarantee.
The reinforced third party formula:
This formula contains the same two guarantees as the third party formulas. Fire, glass breakage and theft warranties are added.
The fire and theft guarantees will compensate the insured up to the value of his vehicle on the day of the fire or theft. This value is called the market value, it corresponds to the value of the vehicle on the used market.
It essentially depends on the age of the vehicle and its mileage. The experts who are responsible for determining the market value rely on the "Argus quotation". It serves as a benchmark for professionals in the automotive sector.
Be careful with cars over 30 years old that are not collector's cars, because they are no longer listed on the argus, the expert will not be able to refer to the argus. The expert will work with the central to learn about the second-hand market for this type of vehicle.
Here are some examples of cars over 30 years old that are no longer listed on argus: BX Citroën, a Renault 25.
Glass breakage guarantee
The broken glass guarantee covers the breakage or replacement of your screen. This guarantee is not extremely expensive and it is available from the formula to the reinforced third party. Be sure to check whether your contract covers rear-view mirrors with their mirrors as well as panoramic roofs, because some insurers do not cover these elements. The broken glass guarantee is often offered with a deductible of 0 €.
When replacing a plug, there may be a deductible which will be payable by you. On the other hand, repairs in a center approved by your insurer, you will not have to expect any costs. It will only need to meet certain conditions, the impact will need to be smaller than a € 2 coin and it should not be in line of sight.
Compensation is never immediate: the deadline for the loss to be definitively recorded is specified in the contract, generally within one month.
If the vehicle is found before the 1 month period has elapsed, the costs will be:
Recovery costs with the agreement of your insurer
The costs of restoration with an expertise and within the limit of the market value
For the theft cover to be triggered in the event of an attempted theft, the insured must be able to provide material proof of the attempted theft (forced lock, broken windows, dismantled anti-theft device, possibly testimonials, etc.) only the amount. of the restoration is compensated.
- In the event that the vehicle is found after the 1 month period, the owner can abandon or decide to buy the vehicle back from the insurer by reimbursing the amounts collected.
- The insurer may require the insured to install a GPS beacon
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