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Traffic Insurance penalties
05 May 2016
If you pay your traffic insurance late by one month, then you will be charged a penalty of 5% of your traffic insurance premium; if you are late by more than one month, then your car might be charged up to 40-50% of the premium. Insurance companies take this charge by adding up the late payment penalty amount on top of the premium. The rate changes according to various aspects like car model, age, claim history, driver’s claim history, and even location.
Full Pecuniary or Financial Responsibility for Damages in case of an Accident
We would like you to read this link to get more information about Compulsory Traffic Insurance coverage in the case of an accident: . It is always good to be on the safe side: Click This always wear your seat belt, renew your traffic insurance and casco on time. Nothing is more important than you and your loved ones' health.
As always, we at PolicyforExpat are here to help answer any questions or concerns that you may have about the above topics or any other insurance-related issues.