compulsory and supplemental insurance on the car


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What is the difference between compulsory and supplemental insurance on the car

“Compulsory” to compensate pedestrians for road accidents, and supplementary to the owner of the car must read the terms of the insurance policy before contracting

Many car owners do not know the difference between compulsory and supplementary insurance on cars and ask about the feasibility of paying insurance fees when making licenses under the name “compulsory”, and even when they know they often refrain from issuing any additional insurance policy, known as ” Supplemental “because they are not aware of their importance on the one hand and what is happening between them on the lack of full compensation from the insurance companies after the occurrence of any incident and the difficulty of completing the procedures between more than one hand and not familiar with the terms of the document

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The decision of the Training and Development Committee and the Assistant General Secretary of the Egyptian Insurance Federation confirms that many people make mistakes when they believe that compulsory motor insurance imposed by law is paid on each car when the license is issued or renewed. The owners of the cars to obtain any compensation value when they suffered any losses as a result of accidents on the road and the fact that this insurance was approved for the benefit of pedestrians or their parents to get the value of compensation by 40 thousand pounds in case the driver caused the death of his car to one of the thousands D, for the benefit of his heirs or 15 thousand pounds when he becomes totally or partially

 

And pay the insurance companies when the vehicle data is in the prosecution record and in case of death registration by an unknown vehicle, the government fund to cover the damage caused by the accidents of the rapid transport vehicles inside Egypt to pay and all those who were in the car and suffered an injury to be compensated

 

He added: As for the complementary insurance on cars is the insurance of the car is comprehensive insurance on cars of various types provides insurance for cars, where the company pays the insured the value of material losses arising from the loss or damage, kidney or partial injury to the insured car and accessories And its spare parts resulting from the risks of crashes, reversals due to accident, mechanical damage, fire, theft, and burglary

 

Ismail pointed out that in order to benefit from the supplementary insurance and to obtain appropriate compensation, the customer must first choose the company with good reputation and high financial solvency known as the payment by inquiring through the Financial Supervisory Authority, which provides an annual statement of the number of complaints to companies working in car insurance. Was evidence of the strength of this company and its ability to pay compensation without procrastination

 

He pointed out that the customer must take this matter in addition to reading the entire document before contracting and reviewing all the items, whether public or private, where the determination of the percentages of endurance, which means the amount of what the customer will bear a percentage when the repair and maintenance of the car after an incident, The customer shall ensure that the agreed terms are written in the document and that no oral provisions are taken into account because the law does not know any unwritten requirements and the customer signs the insurance policy and all the general and special conditions. As a preview of the car, report before the release of the document even if the new car

Through the Japanese parent company Tokyo Marine, Tokyo Marine Marine Takaful, and Tokyo Marine General Takaful are working in the Egyptian market with a capital of 260 million pounds. The number of employees reaches about 200 employees through 9 branches in Cairo, Alexandria and some governorates. 2008, under the name “Nile Family Takaful” with paid-up capital of LE 60 million, with a 40% contribution to the Tokyo Group of Japanese Insurance and 60% to Kuwait’s Kharafi Group

The Japanese group acquired the ownership of the company 100% after three years of starting its activity in the Egyptian market. The company also endeavored to carry out its activities through takaful insurance in line with the wishes of some segments of Egyptian society which are predominantly religious. Which is operated by a limited number of insurance companies

 

For his part, Masaya Anagaki, Managing Director of Tokyo Marine Family Takaful, the parent company of the life insurance business, said in a special statement to “Day Seven” that President Abdul Fattah Al Sisi’s visit to Japan will help bring more Japanese investments and capital to Egypt in the coming period. He pointed out that the elements of safety and economic improvement are the main drivers of the rapid flow of investment, including the work of insurance companies, but it reduced the possibility of entry of new Japanese players during the current period everyone is waiting for more stability

 

Masaya also pointed out that the Egyptian insurance market is a promising market characterized by high growth rates and there are still many challenges that hinder the rise of these rates, especially the lack of awareness of insurance in the majority of the Egyptian people, pointing out that the insurance companies are primarily responsible for this shortage and is responsible for increasing awareness As the primary beneficiary of increasing customers and the most important constraints are other competition on prices between companies to bring more customers at the expense of quality

Compulsory insurance on cars, 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 an unknown source and this is the most important information about him

 

 

Compulsory motor insurance is one of the most important insurance policies in Egypt. It was imposed according to the law of 2007 and is paid in the traffic departments on each car when the license is obtained and obtained by the insurance companies through its approved outlets

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The importance of compulsory insurance in the coverage of damage resulting from accidents of unknown roads to others, and spend the fund Accident compensation for those affected by the amount of 40 thousand pounds in case the driver caused death or compensation in case of total or partial disability.

There has recently been an increase in compensation from the Fund to coincide with the current economic situation and possibly up to 80,000 Egyptian pounds or more

 

According to the site of Misr Insurance Company, 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 Arab Republic of Egypt and the obligation of the insurance company, the value of the amount and capacity of forty thousand pounds in cases of permanent death or disability The amount of permanent partial disability compensation in proportion to the percentage of disability and the amount of damage to the property of others up to the maximum of ten thousand pounds, except for the damage of vehicles according to the provisions of Law No. 72 of 2007

 

There are specific procedures to be followed by the insured or his representative to obtain compensation, namely to inform the insurance company of the incident 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 related to the accident at the time of delivery thereof, including correspondence, claims, and warnings

 

If the Insured breaches any of his 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

 

While a number of owners of vehicles and beneficiaries of the services of insurance companies to develop a clear mechanism for insurance prices, and away from the mood and classification of each company; some companies have raised the prices of vehicle insurance policies against others, ranging from 50 to 100%

 

The companies attributed the reasons for the rise to the tightening of the Saudi Arabian Monetary Agency control over them to protect their clients from the manipulation of some companies, and non-compliance with the terms of insurance contracts

 

While companies have classified vehicles into three categories in terms of the most to the least accidents in the Kingdom to determine the value of insurance, other companies intend to not insurance on some sports vehicles

 

Insurance companies have begun to conduct their own statistical studies on vehicle accidents in the Kingdom. The most common types of vehicles are accident-prone. The highest insurance value is 100% for the most frequent vehicle types. This classification varies from one company to another according to the results of each study

. Under the yellow color, vehicles with the least accidents, with prices up by 30%, the green color of medium vehicles in the number of accidents, saw an increase in insurance of about 50% While the sports vehicles were developed in the red color category with 100% insurance coverage

 

A company is considering the possibility of non-insurance on some cars; it is exposed to the highest number of accidents

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has set up a new mechanism for those who wish to ensure it on its “third party” vehicle. The car insurance starts from 800 riyals to a minimum of 1500 riyals according to the results of the traffic accidents record of the insured. The insurance owner raised the price of insurance

 

In its study of the number of accidents in the Kingdom, Malath classified cars as the most consumed, which young people accept, and to the majority of the leasing companies

 

A number of owners of vehicles and beneficiaries of the services of insurance companies, the establishment of a clear mechanism for insurance prices, and away from the mood and classification of each company; to ensure that no price auctions occur according to the view of each company

Conditions for renewing the license through the Fury service:

 

– The car should be “my angel”

 

– The license is in the name of the owner of the car, or by proxy from the owner

 

– Do not exceed 2030 cc

 

Refusal to renew the license by “immediate

 

– Exceeding one month after the date of the license

 

– In case of transfer of ownership

 

– Power of attorney.

 

The service is available only to the owners of cars belonging to the traffic departments of Cairo, Giza, Alexandria, Suez, Ismailia, and Port Said

 

The Committee of the Plan and Budget of the House of Representatives has approved the rate of renewal of car licenses, including, according to the Committee’s conclusion, 225 pounds for cars that do not exceed the capacity of the engine to 1030 cc, 350 pounds for cars that increase the capacity of the engine to 1030 CC, Not exceeding 1330 cc, 750 pounds for cars with a capacity exceeding 1330 cc, not exceeding 1630 cc, and 3000 pounds minimum of 800 pounds for cars that increase the capacity of the engine to 1630 CC, and not exceeding 2030 CC, but that This fee is reduced by 10% per annum for each year following the model year, and 2.5% of the price of the car with a minimum of 2000 pounds For cars that increase its engine for the CC to 2030 CC, that this fee reduces by 10% per annum for each subsequent year for the model year

 

The following table shows the value required for renewing or extracting licenses for motor vehicles, including compulsory insurance for only one year:

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First: fuel type gasoline

Number of Cylinder Value

cylinder less than 1000 cm 3 and less 225 pounds

Cylinder less than 1001 cm 3: 1300 cm 3 255 pounds

Cylinder less than 1300 cm 3: 1600 cm 3 290 pounds

Cylinder less 1601: 2000 cm 3 is different according to model

In addition, the price of the vehicle received from the IRS

Cylinders and less 2001: 2500 cm 3 varies according to model

Moreover, the price of the vehicle received from the IRS

More than 4 cylinders 2001 cm 3: 2500 cm 3 varies according to model

In addition, the price of the vehicle received from the IRS

More than 4 cylinders

Before 1979 2501 cm 3: 3000 cm 3 523.6

From 1980 2501 cm 3: 3000 cm 3 673.79

 

Second: Fuel type Solar

The value of the value

cm 3: 2500 cm 3 varies according to model

In addition, the price of the vehicle received from the IRS

After 1979 2501 m 3: 3000 cm 3 is different according to model

In addition, the price of the vehicle received from the IRS

From 1980 2501 cm 3: 3000 cm 3 varies according to model

Moreover, the price of the vehicle received from the IRS

 


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