Motor Vehicle Insurance
What is Motor Vehicle Insurance?
Motor Vehicle Insurance is one of the types of property insurance. Damage, burning, theft, etc. Of any motor land vehicle against the will of the insured. cases, to ensure that compensation is paid to the insured.
Motor Vehicle Insurance covers the damage to the insured’s vehicle, not the damage to the other vehicle. The purpose of vehicle motor insurance is to compensate the damages incurred by the motor vehicle belonging to the insured.
Motor Vehicle Insurance Coverage
Motor Vehicle Insurance is a type of optional insurance. In addition to the standard coverages such as the burning and theft of the vehicle, the insurance coverage can be extended with additional coverage upon the request of the insured. Unless otherwise stated in the policy, the insurance is valid only within the borders of Turkey.
Starting and Notification Periods in Motor Vehicle Insurance
Motor Vehicle Insurance starts on the date of payment. If the policy amount is to be paid in installments, Motor Vehicle Insurance tarts on the day the down payment is paid. Unless otherwise agreed between the parties, the beginning and end of the motor own damage insurance starts at 12.00 in Turkey and ends at the same time on the day of its expiry. In motor own damage insurance, the insured is obliged to notify the insurer that the risk has occurred within 5 working days from the day of the event that damaged the vehicle.
In case of realization of the risk, the insurer has to notify the insured of the amount of damage and indemnity within 15 days at the latest after the documents related to the damage are given to customer.