Car third party insurance

Car third party insurance

This insurance is known as civil liability insurance for motor vehicles. Based on the law, all the individuals owning a ground motor vehicle are obliged to insure their liability against a third party. This insurance will compensate two types of damage:

1- Money loss

These damages include all the financial damages imposed by the driver in driving accidents to a third party such as damages resulting from accident, fall, fire or blast of the vehicle and also damages imposed from the loads of the vehicle to the third party.

2- Death tolls

These tolls include all death damages and compensations including death, member defects, temporary or permanent disability as well as medical expenses resulted from driving accident and will be compensated from the insurance as per the verdict of the judge.

Risks out of the liabilities of the insurance

1-   Damages imposed to the vehicle creating the accident.

2-   Damages imposed to the loads of the vehicle creating the accident.

3-   Direct or indirect damages resulted from atomic and radioactive radiations.

4-   Damages resulted from criminal conviction and fines payment.

5-   Damages resulted from accidents happened outside the country, except there is an agreement regarding this between the insurer and the insured.

Third party insurance has been announced mandatory in order to project all the those who have suffered from driving accidents and it is better that the drivers would request to buy insurance with sufficient and proper death liabilities which is proportional with IRR value equal to the full blood money of a muslim man as well as extra financial liabilities, so that in case of probable accident they can prevent the problems caused due to not having full insurance. There are so many people who have ended up in prison due to not having insurance and occurrence of an accident with a vehicle which have resulted in death/ member defects or heavy financial damages to third party and in addition to bearing multiple marginal problems resulting from the accident because they are able to compensate the damages. Therefore; driving with a vehicle without full third party insurance is a huge mistake even for one second.

Premium and discount of no damage:

Premium of this type of insurance based on the type of the vehicle and its use and the liability rate of the insurer is determined as per the current approved tariff and applied. In order to encourage the drivers to drive carefully, those who haven’t made any damage in the insurance year will be entitled to discount at the time of renewing their insurance and they will be exempt from paying a part of their next year insurance premium, which will be applied as per the following:

Also, the premium of those insured who will have more than one compensation in one insurance-year will be applicable to extra fee at the time of renewing the insurance, which will be as per the following:

Passenger insurance

This insurance plan is for compensating the physical injuries resulting from accidents including death, maim, diability and medical expenses up to the specified value to the driver of the vehicle who is not considered as “third” as per the law and can be bought up to a full blood money.

Liabilities of car passenger insurance

Passenger insurance together with third party insurance are provided in one insurance and there is no need to purchase it separately, in the mean time it is recommended to all the respected insured people that with considering the nature of passenger liabilities and the compensable damages with these liabilities, buy their required insurance policy, so that they can compensate heavy damages and compensation as it requires.

It should be mentioned that compensation for death and maim in passenger insurance doesn't have any relation with third party insurance and is not calculated based on blood money law.