Compulsory insurance against liability

Insurance against liability insurance is important for the policyholder, which has a policy for this type of insurance, as well as for the person who has suffered damage from the policyholder.

The importance, which the insurance against liability has for the policyholder, is that it provides security to the insured person.

The insurance company instead of the policyholder take on obligation to pay the injured party the amount of damage within the limits of the sum assured if the policyholder unintentionally and inadvertently causes damage to a third party.

On the other hand, insurance against liability, provides that a person who has suffered damage always may be fairly compensated.

Forasmuchas that the insurer take on obligation to himself, it avoids the chance that challenger of damage, due to poverty or other reasons, can not compensate for the damage Continue reading Compulsory insurance against liability

Motor vehicle insurance

Motor vehicle insurance can be compulsory and volunatary.

Compulsory motor vehicle insurance

The motor third party liability insurance represents insurance against liability of owners or users of the motor vehicles for the damage caused to third parties or for damage to or destruction of things during a using of the motor vehicle.

In almost all countries, was introduced as a compulsory insurance.

According to provisions of Article 4 of Law on Compulsory Traffic Insurance the owners of means of transport, used for public transport, and the owners of other means of transport (motor vehicles, boats, aircrafts) , shall be required to sign a contract on compulsory insurance before the means of transport is used for transport. Continue reading Motor vehicle insurance

Compensation for damages caused by using motor vehicles registered abroad

The procedures and conditions for exercising the right to compensation for damage caused by using of a motor vehicle registered abroad are regulated by the provisions of Articles 36 to 41 of the Law on compulsory traffic insurance.

Subject matter are the following questions:

  • International certificate of motor third party liability insurance cover
  • Validity of international certificate of motor third party liability insurance cover
  • Border insurance
  • Compensation for damages caused by using foreign registration motor vehicles
  • Compensation on the grounds of border insurance
  • Compensation for damages caused by uninsured foreign registration motor vehicles. Continue reading Compensation for damages caused by using motor vehicles registered abroad