What does car damage insurance mean?
Vehicle loss insurance is a type of commercial insurance, which means that the insured vehicle suffers from natural disasters (excluding earthquakes) or accidents within the scope of insurance liability, resulting in the loss of the insured vehicle itself, and the insurer pays compensation according to the provisions of the insurance contract.
What are the responsibilities of vehicle damage insurance?
Understanding the insurance liability of vehicle loss insurance is the premise of clearly understanding what vehicle loss insurance means. Its main contents include:
1. Collision, overturning, falling;
2. Fire and explosion;
3. Falling or collapsing of external objects;
4. Storms, tornadoes;
5. Lightning strike, hail disaster, torrential rain, flood, tsunami;
6. Ground subsidence, ice subsidence, cliff avalanche, avalanche, debris flow, landslide;
7. The ferry carrying the insured vehicle suffers from natural disasters (limited to those who have a driver to take care of the vehicle).
In addition, in the event of an insured accident, the necessary and reasonable rescue expenses paid by the owner to prevent or reduce the loss of the insured vehicle shall also be borne by the insurance company, and the maximum amount of these expenses shall not exceed the assured amount.
The claim process for vehicle damage insurance
1: Insurance claims for minor traffic accidents: When the vehicle has an insurance accident with a small amount of loss, the owner can drive the car to the repair office designated by the insurance company, where there is the right to determine the loss and make a price, and let the repair shop help with the claim. In this case, the following steps are generally used to settle a claim for damage to the vehicle
1. Check the documents and show three certificates and insurance policies: the driving license of the vehicle, the driver’s driver’s license, the ID card of the insured, and the policyholder’s insurance policy;
2. Broken car inspection, the preliminary determination of the damaged part of the vehicle, an inspection of the broken car, filling in the case approval form, copying all documents, etc.;
3. Take photos to determine the damage, take photos to determine the damage, and arrange for handling opinions;
4. When reporting the case, report the case according to the content of the case approval form. After the repair is completed, you can pick up the car at the repair office with all the documents and the repair invoice, and let the repair office act as an agent to claim.
Two: General claims process:
1: The first is notification and on-site investigation after a traffic accident occurs. After an insured traffic accident occurs, the insured shall notify the insurer within 48 hours after the insured traffic accident occurs, and promptly take reasonable and necessary rescue and protection measures to prevent or reduce losses, otherwise, the resulting losses cannot be determined or expanded. The insurer is not liable for compensation. The insurer shall promptly accept the traffic accident report of the insured and conduct an on-site investigation as soon as possible. If the insurer fails to conduct investigations and does not give an opinion on acceptance within 48 hours after receiving the report, resulting in indeterminate property damage, the insured shall provide the property damage photos, loss list, traffic accident certificate, and repair invoice as the basis for compensation adjustment.
2: Then there is the handling of traffic accidents and the determination of responsibility. The parties involved in the traffic accident can negotiate and deal with it, and then both parties sign an agreement as to the basis for the settlement of claims. The public security organ may also issue a traffic accident determination letter and a mediation agreement. Or the people’s court to make a judgment or mediation.
3: Then there is the fixed loss. When the insured makes a claim, it shall provide the insurer with certificates and materials related to confirming the nature, cause, and degree of loss of the insured traffic accident. Such as the agreement between the two parties, the traffic accident determination, the mediation, the judgment, the traffic accident certificate, etc. At the same time, the insured shall also provide the insurance policy, the list of losses, the relevant expense documents, the driving license of the insured vehicle, and the driving license of the driver in the event of a traffic accident. The insurance company uses this to determine the damage to the vehicle.
4: Finally, the insurance company determines the compensation method and compensation amount according to the loss and insurance compensation limit. The general principle is that the insurance company shall bear the corresponding compensation liability according to the proportion of the insured vehicle driver in the traffic accident. If the vehicle driver is responsible for 70% of the traffic accident, the insurance company shall determine this proportion. compensation amount. The way of compensation is that repairs take precedence over monetary compensation. Partially damaged insured vehicles due to insured traffic accidents should be repaired as much as possible. After negotiating with the insurer to determine the repair items, methods, and costs of the insured vehicle, the insured can choose the repair shop for repair by himself or the repair shop recommended by the insurer. After the insured vehicle is repaired, the insurer can directly settle the repair costs with the repair shop according to the entrustment of the insured, except for the part that should be borne by the insured. If the vehicle is completely damaged and cannot be repaired, the compensation amount shall be determined according to the predetermined compensation formula, and the maximum compensation limit shall not be exceeded.
Three: About mutual compensation:
The so-called “collision and self-compensation” means that all parties in the accident are responsible, and the vehicle losses of all parties are within the limit of 2,000 yuan for the property damage compensation limit of the compulsory traffic insurance. Traffic accidents that do not involve personal injury and property damage outside the vehicle can be covered by their insurance. The company directly surveys and assesses the damage of the vehicle. However, it must be determined by the traffic police or the parties concerned shall negotiate and determine by themselves that both parties are responsible according to the provisions of the place where the accident occurred, and the parties must agree to the “mutual collision and self-indemnity” approach. The “mutual collision and self-indemnity” mechanism is an important measure for the insurance industry to further simplify the claim settlement procedures for compulsory traffic insurance, serve the rapid handling of road traffic accidents, and improve the satisfaction of the insured.
The claims process is divided into four steps
After a “mutual collision and self-indemnity” accident occurs, the parties can quickly deal with the accident in four steps.
Starting from February 1st, after a “mutual collision and self-indemnity” accident occurs, both parties should immediately report the case to the compulsory insurance company; after receiving the report, the insurance company should inquire and record the basic situation of the accident in detail, and inform the reporter whether it accepts the case or not. . If it is determined to accept the claim, the claimant should be immediately assigned to quickly arrive at the accident site to investigate. In the event of an accident in a different place, the relevant local agency should be entrusted immediately. The insurance company surveys and determines the damage; after the damage is determined, the accident vehicle repairs the vehicle.
Claim settlement time is greatly shortened
According to the implementation measures, if the conditions of “mutual collision and self-indemnity” are met, all parties involved in the accident shall file a claim with their respective insurance companies, and the insurance company shall compensate for the loss of its vehicle within the property damage compensation limit of the compulsory traffic insurance. If two vehicles in different places collide with each other, the “collision and self-compensation” mechanism also applies.