Accident insurance: necessary but little known

In this post we will address all you need to know about insurance as classic accidents and provides many solutions.

Accident insurance, although present in the lives of many people and is a very useful and necessary insurance is not currently one of the most famous, or popular, as may be the case of car, home or health - among most of the population in our country.

It is important to focus on the most important issue in this insurance is nothing but the cause of the accident. The set of reasons that can lead to compensation in the event that we hired a policy of this branch. That way we will become to the idea of ​​the coverage offered by this type of insurance.

First the fundamental definition, what is meant by accident ?, is best to go to the SAR, and its dictionary defines how accident: 2 m. casual or involuntary action resulting damage to persons or things happening. Accident insurance.

Po its part, the Law of Insurance Contract defines accident in article number 100, for the purposes of use in insurance this way: "It is understood by accident bodily injury resulting from an, external and alien sudden violent cause intentionality the insured, which produces temporary or permanent disability or death. " Thus they are specified the causes that give insurance companies consider an incident in which his client has been involved is liable for compensation.

Another important factor to review is the fact that accident insurance does not concern only the personal or professional level, but their coverage applies to both whenever characteristics caused incident fit the clear definition of the insurance legislation.

However, taking into account the work of insurers to tailor insurance to customers and achieve maximum customization, the insured can choose which field affects the accident policy to sign. Maybe protect only interested in the professional field or vice versa, or perhaps is only interested in covering the possibility of an accident in a very specific aspect. Companies increasingly offer possibilities to its customers to personalize their respective contracts.

Inclusions exclusions

We now inclusions exclusions. Excluded from the scope of protection of accident insurance, for example, those caused intentionally by the insured in order to collect the compensation, and that this may have occurred before the signing of the contract or those in which you may be involved in case of expiration, non-payment or non-renewal.

However, there are other exclusions that at first sight are not so obvious. This is the case of bodily injury to the insured may have occurred in a legal strike, a demonstration or even in an armed conflict if the case arises. These possibilities are not included within the coverage of accident insurance.

Also worth noting that in the case of traffic accidents, they have their own area in car insurance, but can be complementary personal accident insurance we have hired. The exception is for the case of motorcycles and mopeds, driving over 50 cc. and their companions, these accidents are excluded unless agreed in the policy.

From cause to effect

Of course, accidents that have not had a major effect on the health of the insured does not fall under the compensation. Because this insurance, in addition to the causes, the effects are detailed.

And we talk about serious effects, either death (thus the insurance company should compensate the beneficiary that the customer has designated the time of signing the contract) or disability, whether temporary or permanent, or partial type and total. In the event of partial disabilities guy, a lot of situations that reflect the scale called injuries and compensation percentages are contemplated.

It should also be noted that the costs of hospitalization or health arising from the accident also be covered with an insurance policy of this type can choose certain quantities. It is always good to consult with a professional to set coverages and limits most suitable for us.

What if any of these people is to blame for an accident with our car?

Many times we are faced with the need to leave the car to a friend or relative. Do not forget that since the car is started there is a risk of an accident and therefore it is possible that our friend or family member suffers a mishap

Assuming that the car has insurance on ITV last rule may be facing the following cases:

The driver is over 26 years old, has no license and driving under the influence of alcohol. In this case we will not have any problem, it is the most favorable scenario, the insurer will take care of everything.

The driver is over 26 years old, has license and driving under the influence of alcohol. We have a problem, the insurer will pay the claim but then we claim that amount. This is because all insurance exclude driving under the influence of alcohol.

The driver is over 26 years, has no license and driving under the influence of alcohol. Although it seems less severe than the previous course we face the same situation, the insurer will pay the claim but then we claim, as in insurance also excluded driving without a license.

The driver is aged under 26 years. This is the worst case, no matter who the driver is not under the influence of alcohol or has no license, our insurance does not take care of the sinister and we get payment claim ourselves all amounts.

In short, if you see yourself in the position to leave the car to someone, as long as this person is over 26 years, has license and be responsible when driving, you will not have any problem with your insurance.

What if we stop paying for car insurance?

With the prolonged economic crisis that we are suffering, the temptation to save by default car insurance is very high. But one thing is clear: stop paying insurance can end up costing you dearly.

The first thing to consider is that car insurance is paid in advance, before they enjoy their coverage. The premium paid over this year covers during this time, until the next renewal, if it occurs. Stop paying means that the vehicle is left without any protection.

A second aspect is that, generally, the policy is automatically renewed if not notified in good time (which is expressly stipulated in the contract signed between the client and the insurance company). If you can not (or do not want) to continue paying this coverage, you must notify the insurer in advance of 30 days, that insurance is not renewed for another year automatically.

 We try to accommodate the insurance payment to the ability of our income

Therefore, we must try to accommodate the insurance payment to earning capacity, plan it so they do not get together with many other expenses and no money is available to meet that commitment.

Usually the premium is paid annually, but most allow insurers also pay each semester, trimester and even some every month. Yes, we get paid in easy installments but at the cost of paying interests that may be too high.

A month grace

But if, despite these warnings and considerations, decides not to pay for insurance, you should know that the insurance company is obliged to grant a grace month despite customer has not paid the premium. This means that during that month insurance covering you will you and your vehicle even though you have paid the policy. Take more than that month grace in pay for insurance means that the vehicle is left without any coverage.

 The insurance company is obliged to grant a grace month during which still secured

If the car, motorcycle or any other motor vehicle, flowing through streets and roads without insurance, the fine can amount to 3,000 euros as we told you a few days ago when the director of the Directorate General of Traffic (DGT) warned at the Barcelona Motor Show will soon be able to register their cameras tuition and fining drivers traveling without car insurance in force.

In addition, if a claim with the unpaid policy occurs, the insurance company has no obligation to cover it. Precisely because insurance has not been paid in a timely manner. This means that in case of accident, the customer will have to respond with its own assets before any damage because it does not have the insurance protection.

  You drive with a vehicle without insurance is not only unwise, it is unlawful

Delay or non-payment of the insurance premium car can pose serious problems and consequences, not only economic, in the case of some sinister in that time period. Circular with an uninsured vehicle is an illegality which aggravates the situation of the driver in case of being involved in an accident, although not to blame for this. For that reason, stop paying insurance can be very expensive in the end.

Pay in installments, an option

But what if you do not have money to pay for insurance? One option is to split the payment of the premium. Virtually all insurance companies allow the semi-annual or quarterly payment. And there are even insurance companies that provide more facilities and support the monthly payment of the policy premium. But not free installment payment out: the surcharge can be as high as 30% ...

Another issue that should be very clear: although insurance companies allow payment of the premium in installments and not pay one of those installments equivalent to not pay the lump sum. This is because, despite those payment facilities, the annual premium for car insurance is considered in its indivisible whole.

In the event that the customer does not pay one of the deadlines set in the contract, the insurance coverage would be suspended one month after the date set for payment. Because, before a default, the insurance company is obligated to continue to provide coverage to the policyholder of the premium for the month of grace explained above. The insurance is valid for all purposes, even if unpaid, during that month. Do not forget that coverage is lost but the customer has five months to pay and recover your insurance.

Unless the contract has been terminated because during the six months following the expiry of the premium, the insurance coverage would be in force 24 hours from the date on which the payment was made.

In the case of non-payment of the first installment of insurance by the customer, the insurance company has two options, A, demand full payment of the insurance. And two, that is the most common, terminate the contract for the first default, terminate it.

Claims are not too frequent

During the 6 months following the date of the premium, the insurance company has the right to reclaim by executive to pay the amounts you owe the policy. However, the costs of the procedure do not compensate, and as a general rule, insurers try to avoid the executive process. Typically, the insurer is limited to terminate the contract that bound him to the client through the policy. The default will have no more effect if the company understand it as the end of the policy and does not exercise its right to claim it should.

If the insurance amount not claimed within that period of six months, the only consequence for the customer is that your insurance contract has been terminated. In other words, it ceases to exist relationship between the insured and their insurance company.

Should have other insurance policies with the same company, it is very likely that the insurer take measures to ensure that does not happen the same with car insurance. You should also be very aware that being a defaulter in a safe can hinder you hire other policies.

 We have five months to pay and recover insurance protection

But we must not forget that while it is true that take more than a month in pay leaves you without coverage, not less true that accounts five months term (six months after the expiration of the policy, in which the company insurance can demand payment of the amounts due, minus the grace month) to pay and recover your insurance protection.

Above all, you must be very clear that compensates you make an effort to squeeze further belt, or look for potential savings in other types of expenses, and continue paying religiously for protecting your vehicle and yourself. Because do not forget, stop paying car insurance can be very expensive. And not only for the pocket.