An Insurance policy covering the authorised driver`s legal liability against others arising from the driver`s negligent acts or ommissions.
Laiki Insurance may extend the basic cover and offer a series of optional covers.
What does the Third Party Insurance Policy Cover?
- The Policy covers the Insured’s and the authorised drivers’ legal liability to indemnify third parties (including passengers in the insured Motor Vehicle other than the driver) for the death or bodily injury, emergency hospitalisation and loss of or damage to their property caused by the use of a Motor Vehicle on a ‘road’ in Cyprus (the areas of the Republic of Cyprus in which the Government of the Republic exercises effective control) or in a country which signs the Multiteral Guarantee Agreement (the term ‘road’ is legally defined as any road or other area which the public is entitled to use and has access to, apart from aircraft landing and take off runways).
- Limits of liability per incidence, as provided by Law:
- for death or bodily injury € 30.000.000
- for damage or loss to/of property € 1.000.0000
- for emergency treatment € 34
- A wide range of covers, either basic or optional, are also offered according to the type of the Motor Vehicle, as will be described in the paragraph "other covers".
What does the Third Party Insurance Policy exclude?
The policy is subject to certain exclusions, some of which are:
- War, acts of terrorism, loss of or damage to property resulting or liability arising from nuclear weapons material, ionising, radiations and radioactive contamination, any premeditated act, which amounts to a crime according to the Criminal Law.
- Property being loaded or unloaded or is being transported by the Motor Vehicle.
- Any passenger who is unlawfully carried in or upon the Motor Vehicle.
- Property belonging to or is in the possession, custody or control of the Insured or any person claiming to be indemnified under this Policy or a member of their household.
- Driving under the influence of intoxicating liquor or drugs.
- Using the insured Motor Vehicle as a tool.
Who can Benefit from the Third Party Insurance Policy?
Owners of Motor Vehicles (private, commercial, motorcycles, private buses, special type vehicles) and individuals or businesses engaged in the trade, repair, cleaning, etc. of Motor Vehicles
Some Advantages of the Third Party Insurance Policy
- A wide range of optional covers
- Service "24 hours synodigos"
- Drivers Medical Insurance Cover
- Premium protection in the event of a claim
- Legal liability for the payment of damages to third parties
- Service "24 hours synodigos".
- The Insured`s legal liability to indemnify third parties in connection with the driving of any other vehicle (excluding motorcycles, bus, lorry or special type vehicle) occured in Cyprus (the areas of the Republic of Cyprus in which the Government of the Republic exercises effective control) not belonging to him/her or his/her employer or partner and not hired to them.
- Legal liability of the Passengers to indemnify third parties.
- Use of the Motor Vehicle that extends beyond the scope of the legal definition of the term ‘road’.
- Cover for the breakage of glass in the windscreen or windows that does not entail a premium increase following the submission of the claim.
- Indemnity for the payment of damages whilst the Motor Vehicle is being towed.
- Personal accident cover for the Insured and the authorised drivers, in connection with the use of the Motor Vehicle.
- Premium protection in the event of a claim.
- Medical cover of the insured and the authorised drivers of the insured vehicle following a motor accident and/or medical cover of the insured or other specified drivers whilst driving any motor vehicle (excluding motorcycles, buses, lorries or special type vehicle) following a motor accident.