Third Party Insurance
Third party insurance is one of the liability insurances in which the responsibility of driver against other parties is insured. By third party it means all persons/parties faced with corporal and/or pecuniary losses as result of accidents of ground vehicles, whether they are inside and outside the insured automobile, other than the faulty driver.
Risks under commitment:
In third party insurance the following risks are under coverage:
1- Collision, drop, capsize, fire and/or explosion of vehicle
2- Losses accrued to third parties from cargos of vehicles
3- Payment of death, permanent and temporary defect of limb compensation including blood money (the blood money of temporary defect of limb determined by judge)
4- Compensation of medical treatment expenses arising from injury of third parties in driving accidents, in case it is not subject to other act.
5- Compensation of financial losses incurred to third parties.
Risks out of commitment:
The following instances are out the inclusions of third party insurance:
1- Losses incurred to the faulty vehicle
2- Losses incurred to the cargo of the insured vehicle
3- Direct or indirect losses arising from atomic and radioactive radiations
4- Losses arising from penal and penalty payments commitment
5- Losses arising from accidents occurred abroad, unless an agreement is made between the insurer and the insured on this issue.
Note: In maintaining the original third party insurance policy more attention shall be paid because in case of being lost of original insurance policy, the duplicate one can not be issued and the insurer merely issued the certificate of lost of insurance policy as well as at the time of extension of insurance policy, the record of discount of the previous insurance policy shall not be considered. (of course in case the record of the previous insurance policy is at the disposal of Saman Insurance, the calculation of discount is exerted after internal inquiry due to the records of records).