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Frequent Asked Questions
Compulsory car insurance is Third Party Liability. The term civil liability refers to the obligation that each person has to restore the damage caused to third parties, illegally and culpably. According to the Law, the civil liability insurance from a car accident covers the against third-party civil liability of the owner, the owner and each driver, in case of an accidental accident caused by their fault. In addition, with Civil Liability someone is covered, even if the car is stolen or taken by force and involved in an accident.
Premium is the additional charge to your insurance policy when some special cases occur.
Who pays premium and when?
- Insured under the age of 23.
- Insured with a driving license with a duration of less than one year.
- Insured with a driver’s license that has not been issued in Greece.
- Insured who is responsible for more than 2 accidents within a period of 1 year.
- When a towing hitch has been added to the car.
- When the insured vehicle is also driven by a driver over the age of 70 (applies to most insurance companies)
Insurance companies deduct the premium if some of the above conditions cease to apply, such as the completion of the 23rd year of age of the insured or the passage of one year since the issuance of the diploma.
Friendly settlement is a system of compensation after a car accident, which allows the wrongful insured (that is, the one who is not at fault for the accident) to be compensated by his own insurance company, instead of the company of the at-fault driver.
Friendly settlement was established primarily to facilitate and better serve you in the event of a car accident, as it has a number of advantages:
- Fewer and more direct processes for you.
- Faster payment of the compensation you are entitled to.
- Less need for you or your company to go to court, with the associated cost reduction.
- Fewer conflicts between you and other insurance companies.
- Possibility to be compensated by the company you yourself chose, obviously having your own opinion on the quality of its services
Exemption is the amount of money with which we, as insureds, contribute to potential damage restoration. Therefore, the company compensates beyond any exemption. Exemptions are commonly encountered in mixed car insurance.
Mixed car insurance is also known as “Own Damage Insurance”. It is the insurance where the insurance company undertakes to repair the damages to your car even if you are responsible for the accident. In practice, mixed insurance offers the most comprehensive coverage.