Motor Vehicle Insurance
We compensate for the costs of restoration and replacement of spare parts which must be carried out due to damage incurred as a result of an insured event.
In case of vehicle theft, indemnities are paid in the amount of the sum insured (value of the vehicle) less the theft franchise, i.e. the portion of damage not subject to compensation (if set under the relevant insurance contract).
In case of complete vehicle loss, indemnities are paid in the amount of the sum insured less the value of any remaining vehicle parts suitable for use (to be established by an expert). Complete vehicle loss means that the amount of damage exceeds 80 percent of the sum insured.
Insurance indemnities are paid in the currency of payment of the insurance premiums within three days from the moment of issuing of the relevant insured event deed.
Our company pays insurance indemnities in the following manners, taking into consideration the client's request:
- transfer to the client's personal account or to a deposit account for the client's benefit;
- postal order at the beneficiary's expense;
- in cash;
- transfer to the repair company's account.