The insured item must be appraised for value at day price, so that the insurer receives a real insurance premium and be able to compensate for minor and general damages in the best possible way. It is recommended that the insurer’s expert initially inspects the vehicle and its accessories, so as to insure it at day price.
At the time of issuing insurance policy it is necessary that the insurer’s approval expert initially inspects and prepares a technical expertise report and the policyholder should be bound to allow the expert to inspect his vehicle. Of course arrangements have been made in this regard, so as to prevent any problem for the insured. For example, the initial inspection is carried out in the place of residence or work activity of the policyholder.
It is necessary to avoid any initial compromise in cases where the source of damage and the responsible (guilty party) person of accident is one other than the policyholder, so that the insurer can refer to the responsible persons after payment of the damage.
It is obvious that if the policyholder compromises with the guilty party, he should have no recourse to claim later.
In Auto body insurance damage, a portion of total indemnity should be paid by the policyholder as franchise. This amount is 10% in accident and fire and 20% in minor and general theft. (Rates are liable to change at the discretion of the Company)
If a third party is recognized as the source of damage in accident, and it is possible to claim the damage, the franchise shall be reduced to half its amount.
In case of theft of the object of insurance, the case should be notified to police immediately, and then to notify the insurer after collection and presentation of required documents.