The car is the most used means of transport in France with more than 40 million users. A true ally in both professional and personal everyday life, the car has become, over time, essential in the lives of many motorists. Although car manufacturers offer more and more efficient models, which redouble their technicality to compensate for possible accidents or unforeseen events, each vehicle must imperatively meet a requirement; that of being insured by an approved insurance company. Defined and compulsory since 1958, car insurance comes in the form of a contract that includes a certain number of guarantees. But what are its characteristics and what should you know before taking out car insurance? We tell you everything!
What is auto insurance?
As mentioned above, theCar Insurance is a contract in which the insured benefits from financial and material cover in the event of a claim such as an accident, theft or breakdown, which he pays monthly, quarterly or annually depending on the insurer. There are different types of insurance according to your priorities and according to the guarantees to which you subscribe. The two main ones are third-party insurance and comprehensive insurance. These insurances can also be declined in several formulas. If you are the victim of theft, fire or an accident, your insurance company will cover the cost of repair or replacement, depending on the terms of your contract. Compensation may vary from one insurance to another. It is therefore important to define your needs and your method of use beforehand with your expert. The terms of the contract take effect when the technical, physical or environmental incident occurs. The compensation is assessed on the basis of the declaration of the insured, the completed amicable report and the expert’s report.
What are the components of auto insurance?
Each auto insurance contract is defined based on the motorist’s profile, needs and priorities. If the options and guarantees vary according to the formula chosen, certain elements are systematically present on your car insurance. The latter includes the formula subscribed by indicating the level of coverage at the expense of your insurer. Legally, the formula must at least cover civil liability, which is an equivalent of the Third Party formula and which is part of the essential guarantees. Also appear the details of all the other options selected, in other words the conditions of the guarantees in the event of theft, fire, accident or others. The deductible is also mentioned since it corresponds to the amount payable by the motorist following a claim. The sum is estimated according to various criteria, in particular the insurance formula but also the brand and model of the vehicle, its age, as well as its power. The driver’s road history, his frequency of use and the geographical area in which he drives are also taken into account.
Why should you insure your vehicle?
Compulsory since 1958, car insurance must be taken out with an approved body, as soon as a used vehicle is purchased. This requirement appears in the law of February 27, 1958 and also appears in article L211.1 of the Insurance Code. The absence of car insurance is criminally reprehensible for a motorist whose vehicle is in circulation. This contract ensures the protection of the user as well as third parties involved in an accident in a legal and pecuniary manner. Finally, driving without insurance is considered an offense in the eyes of the law and can lead to heavy penalties. The user risks a fine of up to €3,750, a 3-year license suspension and/or the confiscation of his vehicle, or even a prison sentence of less than 10 years.
The car is the most used means of transport in France with more than 40 million users. A true ally in both professional and personal everyday life, the car has become, over time, essential in the lives of many motorists. Although car manufacturers offer more and more efficient models, which redouble their technicality to compensate for possible accidents or unforeseen events, each vehicle must imperatively meet a requirement; that of being insured by an approved insurance company. Defined and compulsory since 1958, car insurance comes in the form of a contract that includes a certain number of guarantees. But what are its characteristics and what should you know before taking out car insurance? We tell you everything!
What is auto insurance?
As mentioned above, theCar Insurance is a contract in which the insured benefits from financial and material cover in the event of a claim such as an accident, theft or breakdown, which he pays monthly, quarterly or annually depending on the insurer. There are different types of insurance according to your priorities and according to the guarantees to which you subscribe. The two main ones are third-party insurance and comprehensive insurance. These insurances can also be declined in several formulas. If you are the victim of theft, fire or an accident, your insurance company will cover the cost of repair or replacement, depending on the terms of your contract. Compensation may vary from one insurance to another. It is therefore important to define your needs and your method of use beforehand with your expert. The terms of the contract take effect when the technical, physical or environmental incident occurs. The compensation is assessed on the basis of the declaration of the insured, the completed amicable report and the expert’s report.
What are the components of auto insurance?
Each auto insurance contract is defined based on the motorist’s profile, needs and priorities. If the options and guarantees vary according to the formula chosen, certain elements are systematically present on your car insurance. The latter includes the formula subscribed by indicating the level of coverage at the expense of your insurer. Legally, the formula must at least cover civil liability, which is an equivalent of the Third Party formula and which is part of the essential guarantees. Also appear the details of all the other options selected, in other words the conditions of the guarantees in the event of theft, fire, accident or others. The deductible is also mentioned since it corresponds to the amount payable by the motorist following a claim. The sum is estimated according to various criteria, in particular the insurance formula but also the brand and model of the vehicle, its age, as well as its power. The driver’s road history, his frequency of use and the geographical area in which he drives are also taken into account.
Why should you insure your vehicle?
Compulsory since 1958, car insurance must be taken out with an approved body, as soon as a used vehicle is purchased. This requirement appears in the law of February 27, 1958 and also appears in article L211.1 of the Insurance Code. The absence of car insurance is criminally reprehensible for a motorist whose vehicle is in circulation. This contract ensures the protection of the user as well as third parties involved in an accident in a legal and pecuniary manner. Finally, driving without insurance is considered an offense in the eyes of the law and can lead to heavy penalties. The user risks a fine of up to €3,750, a 3-year license suspension and/or the confiscation of his vehicle, or even a prison sentence of less than 10 years.
