GOKonten.com-Compulsory motor insurance, One of the types of insurance paid by any individual who is buying a car and many do not know its importance or even why this amount is paid, and what its purpose in protecting from road accidents is unknown source and this is the most important information about it.
1. Compulsory insurance for cars is one of the most important insurance documents in egypt, and it was imposed in accordance with the law of 2007 and is reimbursed in the traffic administrations on each car when the license is obtained and the insurance companies get through their authorized Outlets.
2. the importance of compulsory insurance to cover the damage caused by accidents unknown to third party, and the accident Fund anonymous information compensation for victims of 40,000 pounds in case the driver causes death, or a compensatory amount in the case of total or partial Disability.
3. There has been a recent reported increase in the amount of compensation from the Fund to cope with the current economic situation and possibly up to 80,000 Egyptian pounds or more.
4. According to Misr insurance company’s website, Insurance covers civil liability arising from death or any bodily injury inflicted on any person in the event of a car accident in the Arab Republic of egypt, and the insurance Company‘s obligation, valued at 40,000 pounds in cases of death or permanent total disability, determines The amount of compensation for permanent partial disability by the percentage of disability and the value of damages, which is incurred in the property of others up to a maximum of ten thousand pounds except for the damage of vehicles in accordance with the provisions of Law No. 72 of 2007.
5. There are specific procedures to be followed by the insured or his representative in order to obtain compensation, namely to inform the insurer of the incident caused by the vehicle within seven days from the date of its occurrence, and shall take all necessary precautions and procedures to avoid further damage resulting therefrom.
6. The victim is obliged to submit to the insurer all papers and documents relating to the incident at the time of delivery, including correspondence, claims and warnings.
7. If the insured person breaches any of his obligations, the insurance company may refer to him for damages suffered as a result, unless the delay has an acceptable justification. The investigating entity is obliged to inquire from the competent traffic department about the name of the insured company on the car committing the accident and all its data and to prove it in the investigation record, with the notification of the insured company of the Accident.