Car insurance is important in our communities
One of the types of insurance paid by any individual coming to buy a car and many do not know the importance or even why this amount paid, and the purpose of protection against road accidents is unknown and this is the most important information about him.
Compulsory motor insurance is one of the most important insurance policies. It is imposed according to its law and is paid in traffic departments on each car when the license is issued and obtained by the insurance companies through its authorized outlets.
The importance of compulsory insurance is to cover the damage caused by accidents of unknown roads to others. The Accident Fund pays compensation to the injured in case of causing the driver death or compensation in case of total or partial disability.
There have recently been reports of increased compensation from the fund to cope with the current economic situation
According to the insurance company’s website, the insurance covers the civil liability resulting from the death or any personal injury caused by any person from the accidents of the car if it occurred in the country. The insurance company’s commitment is to the amount and capacity of forty thousand pounds in cases of permanent death or disability, Permanent partial disability cases by the percentage of disability and the value of damages, which are caused to the property of others, except for damage of vehicles according to the provisions of the same law
There are specific procedures to be followed by the insured or his designee to obtain compensation, which is to inform the insurance company of the accident caused by the vehicle within seven days from the date of occurrence, and must take all necessary precautions and procedures to avoid further damage.
The victim shall submit to the insurance company all papers and documents relating to the accident at the time of delivery thereof, including correspondence, claims, and warnings.
If the Insured violates any of its obligations, the Insurance Company may refer to the damages suffered as a result thereof, unless the delay is justified. The accident investigation body shall be responsible for inquiring from the competent traffic department about the name of the company insured on the vehicle and the details of the accident.
There is a need to increase the value of mandatory insurance policies to cope with the rising prices
In the light of the increases that have taken place in the last period, it is clear that there are many sectors that are seeking to increase some prices such as mandatory car insurance policies that apply to all cars licensed in Egypt, unlike the supplementary documents. Compulsory documents are an attempt to increase the value of compensation received by car owners or those who are compensated under high prices in all and the decline in the value of compensation under the high price.
Increasing the value of compensation in compulsory insurance requires an increase in the value of fees
However, raising the value of compensation requires at the same time to increase the value of the same documents for compulsory insurance on cars, which is paid in the traffic units when the driver’s license is issued or renewed where insurance units of insurance companies in Egypt are available in traffic units to collect the fees and provide documents for road accidents And specifically pedestrians in the roads to obtain compensation for accidents in the event of death worth 40 thousand pounds.
Increasing the number of compulsory documents for insurance after a period of extraction may be contrary to the Constitution
But the idea of increasing the value of a compulsory insurance policy by trying to add a new clause in the law regulating it to gradually increase its value each time may be contrary to the system
The General Directorate of Traffic has increased the rent of the distribution of compulsory insurance policies on the cars of the companies, by more than 400%, starting from January this year. The rent of the port will increase from 3 to 15 thousand pounds per month and up to 40 thousand pounds in some areas,
It is known that property insurance companies issue mandatory insurance policies for owners of all types of vehicles, as one of the conditions for obtaining a vehicle license or renewing the license.
For its part, the insurance companies expressed their dissatisfaction with the decision of the General Directorate of Traffic, stressing that it will reflect negatively on the market units that engage in mandatory insurance on cars, pointing out that if not undone, will resort to furnished apartments, in the sense of renting residential units in front of traffic units, Of the neighborhoods to be issued documents, because of the low rental value.
The chairperson of one of the insurance companies said that the traffic decision threatens to exit all of the compulsory systems except for Egypt Insurance – as the only government company – in addition to its negative effect on the decision to invest in insurance activity.
He explained that the value of the fees or premiums obtained by the insurance company from the port – the issuing booth – ranges between 15 and 20 thousand pounds will be paid after the last increase as a rental value, and therefore the companies will suffer administrative losses such as wages of workers at those ports.
He pointed out that the insurance companies may stop issuing car documents, so that Misr Insurance remains alone, which threatens to increase its losses as a result of the increase in the compensation bill. In addition, investors are not enthusiastic about establishing insurance companies because they rely on compulsory insurance on cars as one of the important sources of liquidity Or Cache.
According to official statistics issued by the Egyptian Financial Supervisory Authority (EFSA), the property market premiums from compulsory motor insurance amounted to 554 million pounds in the period from January to the end of October, while the paid compensation bill amounted to 297 million pounds.
Chairman of the Egyptian Federation of Insurance Companies and Managing Director of the Arab-Egyptian Insurance Company (EGIG), said that the traffic decision specified some areas, not in all governorates.
He revealed the progress of the Federation request to the Ministry of Interior to meet officials of the General Directorate of Traffic, in order to explain the impact of the decision on the insurance companies and the economy in general.
The Compulsory Motor Insurance Law No. 72 of 2007 and its executive regulations stipulate compensation in the case of death and permanent disability as a result of an accident of 40,000 pounds, against a percentage of this figure in case of permanent partial disability.
The owners of vehicles of all types pay compulsory insurance fees during the extraction or renewal of driving licenses, which vary according to the type of vehicle, in favor of the companies that pay compensation to the injured.
We look forward to finding many ways and ideas to develop the coverage and provide the best services in an integrated way.
The insurance policies of the United Insurance Company have been carefully designed to meet the needs of everyone within a clear policy and competitive prices that are accessible to all.
Types of coverage
Under the compulsory insurance system, No. 12 of 2010 and covers the physical and physical damage to others according to the schedule of responsibilities contained in the insurance document.
In addition to providing damage to third parties, the vehicle shall ensure the risk of shock, overturning, fire or explosion, self-ignition due to lightning and theft, if damage or loss is caused by an act of others or by the falling of objects.
The vehicles covered by this card shall cover the damages caused to others outside Jordan and in the Arab countries that have signed the Arab Unified Offices Agreement and according to the mandatory insurance regulations in force in those countries.
Coverage of the owner and/or driver of the vehicle according to the schedule of coverage of the compulsory insurance system No. (12) For the year 2010 and the amendments issued pursuant thereto. For an additional small premium (15) dinars
Roadside Assistance: From our keenness to provide the best services to our distinguished customers, the company provides roadside assistance in the event of a breakdown or exposure of the vehicle to an accident within the geographical area covered by this service (Jordan – Syria – Lebanon – Turkey – GCC).
Covering the vacation allowance: If your vehicle is covered by an accident covered by the insurance contract, the company grants its customers this coverage free of charge (10) dinars per day and maximum of five days if the responsibility is on the other party.
Supplemental car insurance
Did you know that Egypt Insurance provides comprehensive insurance protection for your car?
It compensates for material losses resulting from loss or damage to the vehicle, accessories and spare parts because of:
Collision and/or coup
Theft or burglary
Fire, explosion or self-ignition
Intentional action by others
Third-party civil liability for material damage
Any damage to the vehicle during land transport, rail transport, internal river transport, lift transport, or lifting machinery
As well as some of the coverage that is provided with extra premium, including
Insurance of cars outside the borders of Egypt
Personal accidents or death (God forbid) for the driver and his family
Riot and unrest
Did you know that Egypt Insurance provides you with this coverage with many advantages and reductions including?
Non-Accident deduction, which is about 50% of the annual premium
Discount insurance on more than one car and up to 10%
Deducting the customer for part of the accident value and up to about 20%
The importance of complementary insurance on cars
The complimentary insurance on cars provides security to the owner of the car (the insured) because the insurance company contribute to compensate for the loss or loss or partial damage to the car in case the risk is realized in other sense that the owner of the car in the comfort of the psychological source of reassurance in the event of an accident will be a company Insurance repairs the car or enables it to purchase another similar
What is auto insurance
Complementary insurance is divided into four types according to coverage: according to the size of the coverage we start with the most comprehensive and then the least and the least and choose the client what suits him.
Motor insurance covers the total or partial loss or damage to the insured car and its accessories and spare parts. It also covers civil liability before third parties for physical damage and covers fire and theft. In other words, the insurance company compensates the owner of the car for any loss resulting from loss or Partial or total damage to the vehicle in case of danger or when an accident occurs for the insured car
Third-party liability only for material damages
Third-party civil liability for material damage, fire, and theft
Fire and theft for cars raised
What is the third-party civil liability covered by the auto insurance policy
In the event of an accident resulting from or resulting from the use of the insured vehicle to compensate the insured within the scope of the condition for the determination of liability, the company undertakes all sums legally required by the insured to pay, including judicial expenses and fees, in compensation for damage to objects other than ownership Including to the insured person or to any member of his or her family who resides with him / her or who is in custody or in custody or under their supervision
Is it possible to ensure a disabled car?
It is possible to ensure a vehicle that is disabled from work against fire or theft in one case only and is not raised for repair purposes as a result of an accident, in the sense that the insurance company is responsible for any damage or total or partial loss to the vehicle that was caused by a fire accident or theft. Alternatively, to act against it and to achieve the danger insured against it is not covered even if this danger is a fire or stolen
In addition, is required to be interrupted for at least 8 consecutive weeks
Is it possible to modify the type of coverage from supplemental to fire and theft?
In the case of the insured car during the term of the insurance, this amendment may be made on the written notification of the insured to the insurance company to stop the supplementary document and limited coverage on the dangers of fire and theft only
In this case, another new document or supplement to the original document is issued
If the supplementary document covers more than one car, if one car is disabled, the coverage may be suspended for this disabled vehicle
Advantages enjoyed by automotive customers
Insurance companies provide advantages to their customers in the form of reducing the premium on cars of all kinds as an element of attraction and advantage to customers and these discounts:
Discount multiple cars
Deduction of endurance
Discount not claim
What do you know about the discount of pluralism?
This discount is for supplemental documents only
When the customer ensures more than his car and is owned by him (not for joint owners) or the other insured vehicle is the property of his wife or one of his minor children
The deduction of multiples gives a discount of 10% of the premiums for each car
This percentage is fixed and is not subject to change in the case of renewal of insurance, knowing that this discount multiplied by the cars only and does not apply to commercial vehicles
This multiple discount does not apply to group documents
What is the group discount requirement
A discount on the special insurance premium for all cars of the customer in case of a fleet of cars from 20 cars and more
All these vehicles are required to be registered in the customer’s name
Group discounts start at 20% and up to 50% when insurance is renewed or reduced by discounting car groups according to customer results (loss rate over the last three years)
What is the discount of endurance?
This discount is exclusive to the supplementary documents only and is applicable to private and commercial vehicles and reduces the insurance premium by a certain percentage in return for the amount borne by the insured from the value of the compensation due for each accident occurring for the insured vehicle
What do you know about the non-claim discount?
This discount is for supplementary documents only and is applicable to all types of documents
The Insured shall be entitled to reduce the percentage of the annual installment in the event that he does not submit any claims during the insurance periods prior to the renewal of the document directly
Applicable only if the customer is granted the tariff rate, which is 5% other than stamping in the case of ordinary cars and 6.25% other than the stamping in the case of Japanese and Korean cars
Important rules in cases of compensation
You must take into account the compensation management of our office by telephone or by fax
Bring the following pictures:
– driving license
– driving license
– Identification card
– Police record if the incident exceeds 5000 pounds or cases of partial or total theft or acts intended by third parties or fire or any criminal act
– Image of the initial measurement for cost repair
– The vehicle will be inspected no later than 48 hours from the date of notification. So that we can provide notification of the incident
Meaning of a relative word
Is the difference between the price of the car at the time of the accident and the insurance value of the vehicle in the document
In other words, insurance on the car was a hundred thousand pounds and the time of the accident was the actual estimate of the car
Is ninety thousand pounds will be the company accounting for the amount of ninety and deducted from this consumption and consumption and then the rest is the subject of disposal and not one hundred thousand
This is in the case of total loss
In the case of normal accidents, if the amount of insurance hundred thousand pounds and the actual price of the car is the amount of one hundred and fifty thousand pounds, the company will work to calculate the equivalent value of a relative
The value of the accident x the amount of insurance قيم the value of the car when the accident occurred
The car key is not covered by insurance and the reason that the key mobile de mesh with you fixed something in Arabic and then, it was easy Levite every one disables the key with him and throwing him or wasted it calls them insurance
How to calculate the value of insurance on a car = the value of the car of the market x Percentage% W The result hits 6% Issuance expenses and the relative stamp and the stamp of breadth = 133,
And the next year when the renewal price of the car drops 10%
Insurance of zero cars without the need to preview only the chassis number and motor before the license
The customer can apply for repair with 10% of the repair costs and for vehicles exceeding 5 years of production. 25% of the repair costs and 1% increase in the premium