2023-07-07 23:08:48
The Traffic Law No. 24,449 in its article 40 indicates that each driver must take out insurance to be able to circulate. Failure to have it will penalize the driver with a high fine and there is a possibility that they retain the vehicle.
Beyond the obligation, the State gives the option to each person who chooses what type of insurance they want to have. The obligatory one is that of Civil Liability (better known as “insurance against third parties”).
No company or anyone can force you to choose certain insurance. The obligatory one is that of civil responsibility. Photo: Autotest.com.ar
The four types of auto insurance
Regardless of the insurance company you choose, they all have these four types of insurance by default:
A: Civil liability: this type of coverage is the one that is required by law to drive. Covers damage caused to third parties and/or their belongings in traffic accidents. On the other hand, your car does not have any type of coverage. B: RC + damage to third parties + total theft, total fire and total destruction by accident. This type of insurance covers the total loss of the vehicle, whether due to theft, fire or total destruction by accident. What does this mean? That we will not have coverage in case of damage, fire or theft when these are partial. It is an option that stands out for being relatively cheap and saving us in critical situations such as the theft of our car.C: RC + damage to third parties + total and/or partial theft, total and/or partial fire and total destruction of the vehicle accidentally. This type of insurance, in addition to adding coverage for partial fire damage or partial theft, can include additional benefits such as damage to glass, locks and hail, etc. It is an intermediate option in the fixed insurance fees, and covers the most important risks to which the vehicle is exposed. D: All risk: RC + damage to third parties + total and/or partial theft, total and/or partial fire and total destruction and partial damage by accident. This type of insurance is known as all-risk insurance. They have the advantage of covering partial damage suffered by our vehicle in the event of a crash or accident. It can be contracted with different types of franchises (discovered by the insured). Although it is a little more expensive, it is the format that provides the best coverage, and with which we can manage more calmly.
If you crash, you should report the fact to your auto insurance company immediately. Photo: Adobe Stock. By: Paolese – stock.adobe.com
How often do I have to renew my insurance?
Liability insurance is renewed annually and must be up to date.
What happens if I crash and my insurance expires?
If you did not pay on time, you will not have any coverage. Insurance is a contract between two parties: the insurer and you as the insured. By this contract, the company is obliged to assume a commitment to pay in the event of any eventuality that occurs and you are obliged to pay the fee within the term agreed by the insurer.
The legislation for motorcycles is the same as for vehicles. Photo: Segurosweb.com.ar
What papers do I need to take out insurance against third parties?
You will need to prove your identity and demonstrate possession of the vehicle, for which you will have to show your ID and the green card and the title of the vehicle. You should also prove your address, through a service or tax in your name. Before issuing the policy, the company will require you to comply with the obligatory technical inspection or carry out an inspection of the vehicle to guarantee that it is in regulatory safety conditions in in case you have not done that technical review the previous year. Once your data is accredited and the forms are completed, read all the clauses of the contract carefully and sign the documentation. Check that the data in the contract and the policy match.
Does the compulsory insurance against third parties also apply to motorcycles?
Yes, motorcycle insurance is governed by the same conditions as those for motor vehicles.
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