Public auto insurance

Public auto insurance is a government owned and operated system of automobile insurance operated in the Canadian provinces of British Columbia, Saskatchewan, Manitoba and Quebec. According to studies by the Consumers' Association of Canada, rates charged for auto insurance in these four provinces are lower than in provinces that use a private auto insurance system. A more recent study completed by the Fraser Institute released in 2011 concluded that the highest auto insurance rates in Canada were paid in Ontario, British Columbia, Saskatchewan, and Manitoba, of which three are operating with public insurance coverage. In Quebec public auto insurance is limited to coverage of personal injuries while damage to property is covered by private insurers. Saskatchewan has the oldest public auto insurance system with Saskatchewan Government Insurance being founded in 1945. Manitoba Public Insurance was created in 1971 followed by the Insurance Corporation of British Columbia in 1973 and the Société de l'assurance automobile du Québec in 1977.

Other provinces have considered introducing a public auto insurance system. The Ontario New Democratic Party won the 1990 provincial election on a platform that included public auto insurance. After assuming office, Premier Bob Rae appointed Peter Kormos, one of the most vocal proponents of public insurance, as the minister responsible for bringing forward the policy. With the onset of the recession, however, both business and labour groups expressed concern about layoffs and lost revenues. The government rejected the policy in 1991.

Public auto insurance has also been considered in New Brunswick after private insurance rates nearly doubled from 2003 to 2005, but was ultimately rejected by the provincial government. It was also an issue in Nova Scotia during its 2003 provincial election and remained in the platform of the official opposition, the Nova Scotia New Democratic Party during the 2006 election campaign. However, it did not appear in the NDP platform in the 2009 campaign, and now that the NDP has formed a majority government, it seems unlikely that the party will keep its former promise to introduce a public insurance scheme. Public auto insurance was also under consideration by the Newfoundland and Labrador Progressive Conservative government of Danny Williams in 2004 as a "last resort" when private insurance firms threatened to pull out of the province in response to legislation rolling back premiums.

International Motor Insurance Card System

An International Motor Insurance Card System is an arrangement between authorities and insurance organizations of multiple states to ensure that victims of road traffic accidents do not suffer from the fact that injuries or damage sustained by them were caused by a visiting motorist rather than a motorist resident in the same country.

Additionally to extending the insurance coverage territorial scope such systems have the benefit for motorists to avoid the need to obtain insurance cover at each of the frontiers of the countries which they visit.

There are multiple motor insurance systems around the world, established on regional basis. The first was the Green Card system established in 1949 in Europe, but later other regions followed suit.

The Council of Bureaux (CoBx) maintains an international motor insurance card system in and around Europe where the certificate issued is known by the name Green card. In 1949 the system was established in the framework of UNECE. At later stage the EU and EFTA were involved and reflecting the deepening of the links with them the CoBx secretariat was relocated from London to Brussels in 2006

In each member state of the Green Card System the insurance companies established an Green Card Bureaux operating with the recognition and approval of the government and the activities of the Green Card Bureaux are established by law or regulation in each of the countries participating in the system. Each Green Card Bureau has two functions:

   1:  As a "Bureau of the country of the accident", it has responsibility in accordance with national legal provisions for Compulsory Third Party Motor Insurance for the handling and settlement of claims arising from accidents caused by visiting motorists.
    2: As a "Guaranteeing Bureau" it guarantees certificates of Motor Insurance - ("Green Cards") which are issued by its member insurance companies to their policyholders.

There are three types of Green card member states as per the Multilateral Agreement:
   1: EEA members
   2: members under section III of the Multilateral Agreement with the EEA members: Andorra, Croatia, Serbia and Switzerland.
   3:   the rest of the Green card members

Auto Insurance in US (United States)

The regulations for vehicle insurance differ with each of the 50 US states and other territories, with each U.S. state having its own mandatory minimum coverage requirements (see separate main article). Each of the 50 U.S. states and the District of Columbia requires drivers to have insurance coverage for both bodily injury and property damage, but the minimum amount of coverage required by law varies by state. For example, minimum bodily injury liability coverage requirements range from $20,000 in Florida to $100,000 in Alaska and Maine, while minimum property damage liability requirements range from $5,000 (four states) to $25,000 (16 states).In most U.S. states, moving violations, including running red lights and speeding, assess points on a driver's driving record. Since more points indicate an increased risk of future violations, insurance companies periodically review drivers' records, and may raise premiums accordingly. Rating practices, such as debit for a poor driving history, are not dictated by law. Many insurers allow one moving violation every three to five years before increasing premiums.

Auto Insurance in Germany

Since 1939, it has been compulsory to have third party personal insurance before keeping a motor vehicle in all federal states of Germany. In addition, every vehicle owner is free to take out a comprehensive insurance policy. All types of car insurances are provided by several private insurers. The amount of insurance contribution is determined by several criteria, like the region, the type of car or the personal way of driving.
The minimum coverage defined by German law for car liability insurance / third party personal insurance is: 7.5 million euro for bodily injury (damage to people), 1 million euro for property damage and 50,000 euro for financial/fortune loss which is in no direct or indirect coherence with bodily injury or property damage. Insurance companies usually offer all-in/combined single limit insurances of 50 Million Euro or 100 Million Euro (about 141 Million Dollar) for bodily injury, property damage and other financial/fortune loss (usually with a bodily injury coverage limitation of 8 to 15 million euro for EACH bodily injured person).

Compulsory Third Party Personal Injury Insurance

Compulsory Third Party Personal Injury Insurance is commonly known as CTP insurance, and is linked to the registration of a vehicle. It travels with the vehicle ownership when a vehicle is sold and already registered. CTP insurance does not cover vehicle damage, it covers the vehicle owner and any person who drives the vehicle against claims for liability in respect of the death or injury to people caused by the fault of the owner or driver. It covers the cost of all reasonable medical treatment for injuries received in the accident, loss of wages, cost of care services and in some cases compensation for pain and suffering.

In New South Wales and the Northern Territory Compulsory Third Party Insurance (commonly known as CTP Insurance) is a mandatory requirement and each individual car must be insured when registered. A 'Greenslip,' another name by which CTP Insurance is commonly known due to the colour of the form, must be obtained through one of the five licenced insurers in New South Wales. Suncorp and Allianz both hold two licences to issue CTP Greenslips – Suncorp under the GIO and AAMI licences and Allianz under the Allianz and CIC/Allianz licences. The remaining three licences to issue CTP Greenslips are held by QBE, Zurich and Insurance Australia Limited (NRMA). APIA and Shannons and InsureMyRide Insurance also supply CTP insurance licenced by GIO. In addition to the Greenslip, an additional car insurance can be purchased through insurers in Australia. This will cover claims that the standard CTP insurance cannot provide. This is known as a comprehensive car insurance.
A similar scheme applies in the Australian Capital Territory through AAMI, GIO and NRMA (IAL).

In Victoria, Third Party Personal insurance from the Transport Accident Commission is similarly included, through a levy, in the vehicle registration fee. A similar scheme exists in Tasmania through the Motor Accidents Insurance Board.

In Queensland, CTP is a mandatory part of registration for a vehicle. There is choice of insurer but price is government controlled in a tight band.

In South Australia, Third Party Personal insurance from the Motor Accident Commission is included in the licence registration fee for people over 17. A similar scheme applies in Western Australia.

Auto Insurance in Canada

Several Canadian provinces (British Columbia, Saskatchewan, Manitoba and Quebec) provide a public auto insurance system while in the rest of the country insurance is provided privately. Basic auto insurance is mandatory throughout Canada with each province's government determining which benefits are included as minimum required auto insurance coverage and which benefits are options available for those seeking additional coverage. Accident benefits coverage is mandatory everywhere except for Newfoundland and Labrador. All provinces in Canada have some form of no-fault insurance available to accident victims. The difference from province to province is the extent to which tort or no-fault is emphasized. International drivers entering Canada are permitted to drive any vehicle their licence allows for the 3-month period for which they are allowed to use their international licence. International laws provide visitors to the country with an International Insurance Bond (IIB) until this 3-month period is over in which the international driver must provide themselves with Canadian Insurance. The IIB is reinstated every time the international driver enters the country. Damage to the driver's own vehicle is optional – one notable exception to this is in Saskatchewan, where SGI provides collision coverage (less than a $1000 deductible, such as a collision damage waiver) as part of its basic insurance policy. In Saskatchewan, residents have the option to have their auto insurance through a tort system but less than 0.5% of the population have taken this option

Auto Insurance in India

Auto Insurance in India deals with the insurance covers for the loss or damage caused to the automobile or its parts due to natural and man-made calamities. It provides accident cover for individual owners of the vehicle while driving and also for passengers and third party legal liability. There are certain general insurance companies who also offer online insurance service for the vehicle.
Auto Insurance in India is a compulsory requirement for all new vehicles used whether for commercial or personal use. The insurance companies have tie-ups with leading automobile manufacturers. They offer their customers instant auto quotes. Auto premium is determined by a number of factors and the amount of premium increases with the rise in the price of the vehicle. The claims of the Auto Insurance in India can be accidental, theft claims or third party claims. Certain documents are required for claiming Auto Insurance in India, like duly signed claim form, RC copy of the vehicle, Driving license copy, FIR copy, Original estimate and policy copy.
There are different types of Auto Insurance in India :
Private Car Insurance – In the Auto Insurance in India, Private Car Insurance is the fastest growing sector as it is compulsory for all the new cars. The amount of premium depends on the make and value of the car, state where the car is registered and the year of manufacture.
Two Wheeler Insurance – The Two Wheeler Insurance under the Auto Insurance in India covers accidental insurance for the drivers of the vehicle. The amount of premium depends on the current showroom price multiplied by the depreciation rate fixed by the Tariff Advisory Committee at the time of the beginning of policy period.
Commercial Vehicle Insurance – Commercial Vehicle Insurance under the Auto Insurance in India provides cover for all the vehicles which are not used for personal purposes, like the Trucks and HMVs. The amount of premium depends on the showroom price of the vehicle at the commencement of the insurance period, make of the vehicle and the place of registration of the vehicle. The auto insurance generally includes:

• Loss or damage by accident, fire, lightning, self ignition, external explosion, burglary, housebreaking or theft, malicious act.
• Liability for third party injury/death, third party property and liability to paid driver
• On payment of appropriate additional premium, loss/damage to electrical/electronic accessories

The auto insurance does not include:

• Consequential loss, depreciation, mechanical and electrical breakdown, failure or breakage
• When vehicle is used outside the geographical area
• War or nuclear perils and drunken driving.

What you should know about the motorcycle insurance

Motorcycle insurance: is it mandatory?

The Act imposes on any biker to be insured in respect of what is commonly called "civil responsibility".This motorcycle insurance guarantees compensation for damage and injury that may be caused to third parties by the driver of the motorcycle or its passengers in a crash.

A motorcycle insurance contract may be limited to this simple warranty or include other safe guards.

Motorcycle insurance: definition of liability

"Civil liability" insurance guarantees compensation for the damage and injury caused to others by the 

driver of the motorcycle or its passengers in a crash.

Designed to allow the victims of traffic accidents to be always and properly compensated, it ismandatory for any biker, and is therefore 

included in any contract of insurance motorcycle.

Motorcycle insurance: third party insurance and insurance all risks

Every driver must at a minimum be insured for personal injury and material damage caused to third parties by the insured vehicle (art. L. 211-1 and l. 211-5 of the Code of insurance).

This compulsory minimum insurance is called "third-party" insurance or liability insurance.

'All risks' insurance have more extensive guarantees and cover such damage to your motorcycle,

regardless of the leader, even if it is the driver (except in general in the event of conduct in case of drunkenness), and even if the head is not identified (in the case of vandalism, for example).

The motorcycle 'all risks' insurance therefore enables better compensation than a motorcycleinsurance "one third".

Motorcycle insurance: definition of the record of information

It is a document that traces the past of a person as the insured. It contains the following information:

- the usual drivers designated,

-the number, nature, and the share of responsibility of registered claims,

-the identity of the responsible driver and finally the coefficient of reduction-increase (or Bonus/Malus).

The record of information covers a period that varies according to the companies.

The insurer is obliged to issue a statement of information to an insured when there is termination ofcontract and motorcycle insurance at the request 

of the insured.

Good Car Insurance

Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy. Auto insurance provides property, liability and medical coverage.
When it comes to car insurance, many consumers face an issue at the time of making a claim because of the very many miscommunications and misunderstandings involved. The biggest being the assumption that once insurance is bought all charges in case of an accident will be borne by the insurance company. The fact is, irrespective of the plan, there will always be a charge that will have to be borne by a consumer at the time of a claim.

Firstly, it must be noted that a motor insurance policy does not covers normal wear and tear and general ageing of the vehicle, depreciation or any consequential loss and mechanical or electrical breakdown. Based on this, let us understand the different charges that are applicable at the time of claim.

Car Insurance Policy:

Car Insurance or motor insurance covers for losses that you might incur if your car gets damaged or stolen. The premium amount of your car insurance is decided on the basis of Insured Declared Value or IDV of the vehicle. If you increase the IDV, the premium rises and if you lower it, the premium reduces. It is important for any policyholder to compare various options before going for a car insurance renewal or buying a new policy.Also You should consider cheapes car insurance.

Key Benefits of Car Insurance:

Car insurance plan offers following benefits:

• Coverage against loss or damage to the insured vehicle.
• Coverage against loss or damage to your vehicle caused by accident, theft, fire, explosion, self ignition,
• Also  lightning, riots, strikes or act of terrorism, natural calamities.
• Coverage against financial liability caused by injury/death of a third party or damage to the property.
• Personal accident cover.

Why is it necessary to compare car insurance policies?

It is necessary to compare the car insurance policies as it can save a substantial amount of money and give you better coverage options. However, comparing the policies manually can be a daunting task. PolciBazaar makes it fairly easy for you. When you compare quotes here you can save upto 55% on car insurance premiums along with getting add-ons like riders and benefits on your plan. Make an informed purchase. Compare online and know your car insurance plan properly before buying.

Coverage under Car Insurance

There are primarily 3 types of car insurance -

• Third Party Liability Coverage

Third Party car insurance provides cover against any legal liability to a third party caused when you are at-fault driver. It covers damage/injury caused by you to another person/property. A Third Party Liability cover is legally mandatory in India under the Motor Vehicles Act.

• Collision Coverage

Collision coverage protects the insured financially against damage of their own car. It pays the insured for damage caused by collision which is usually an accident. Damage or loss due to theft or vandalism is not included in collision coverage.

• Comprehensive Coverage

A comprehensive coverage is extensive and includes damage of car, theft of vehicle, third party legal liability and personal accident cover. The policy coverage can be further extended by opting for add-ons like accessories cover, engine protector, zero depreciation cover, medical expenses, etc. This type of coverage is the most popular as it offers end-to-end coverage and thus less stress for the policyholder.

No Claim Bonus 

For every claim free year, the insured is rewarded with discount on the renewal premium. This discount is called - No Claim Bonus (NCB). It is cumulative and increases every year. It usually ranges from 10% to 50% and can save a substantial amount of money on your premium. 

What is not covered in Car Insurance? 

Following features are usually not covered in car insurance:

• Loss or damage if a policy is not in force.
• Gradual wear and tear of car and its parts.
• Loss or damage to vehicle when driven by person without a valid driving license.
• Loss or damage to vehicle as a result of intoxication due to drugs, alcohol etc.
• Loss or damage to engine as a result of oil leakage.
• Loss or damage to vehicle as a result of abuse of car manufacturer's guidelines.

Eligibility/Documentation Required for Car Insurance

Getting a car insured requires minimal documentation. For a new policy, you must submit the filled up proposal form and copy of the Registration Certificate (RC). For renewals, you will need copy of the RC (Registration Certificate) along with the copy of previous insurance policy.

Carefully fill in your complete details. This is an important step and will save you a lot of hassle during claim time.

The manufacture year of your car lets the insurance company assess its Insured Declared Value (IDV) that facilitates the underwriter to decide the annual premium for your car.

• CNG Fitted Car

Being more vulnerable to combustion, a CNG fitted car is usually insured at a slightly higher premium than a plain petrol/diesel car.

• Additional Covers

You need to mention whether you do or do not want to get a cover on electrical and non-electrical accessories fitted in your car. Most insurers provide a cover for your car accessories at an additional premium of 4% on its value.

Fill in these details carefully then sit back and relax for a while. You will be presented with a list of insurance plans that suits your requirement at best possible rates.

Get Discounts, Save Money, Buy Smart 

A smart customer is in a constant hunt for discounts which will reduce the burden on his pocket. If you are one among them then here are a few tips that will help you get discount and save money on premium value of your car insurance.

• Voluntary Access

Voluntary deductible is the minimum amount that you declare to bear at the time of claim. The higher deductible you opt for, the lower will be your premium. Simply put it means that the financial burden on the insurance provider is less and you will also chip in when an accident or car damage happens.

• Anti-theft Discount

In case your car is fitted with an ARAI approved anti theft device, your insurer will offer additional discount (2.5% on the OD Premium). This discount is provided for the simple reason that an anti-theft device will make your car less liable to theft.

• Privilege Membership

Members of the Automobile Association and some Professionals (Defense Personnel, Doctors and Govt. Employees) are entitled to get additional discount on their premium. So, never miss out to mention the same while searching for a quote.

While getting quotes for your vehicle at Insurance Companies, you might see for yourself how changing even minor details make a huge difference to the final calculated premium.