auto insurance

Accident Insurance for Motor Vehicle Passengers

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Accident Insurance for Motor Vehicle Passengers

auto insurance

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Insurance companies apply various ways of insuring motor vehicle passengers against traffic accidents. The following ways are the most prevalent in practice:
– Insurance for a specific amount of money;
– Insurance for a specific number of individuals/seats;
– Nominal insurance.
For companies that undertake the transportation of passengers, insurers offer special ways and conditions for insuring the passengers against traffic accidents.
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auto insurance

Insurance for a specific amount of money. The insurance agreement provides the insurance sum regardless of how many seats there are in the vehicle. In case of an insured event the insurance sum is proportionately divided and paid out to all of the injured passengers of the insured vehicle.

Individuals to be considered passengers should be strictly defined in each insurance agreement. Some insurance companies acknowledge as passengers all individuals who were riding in the vehicle, while others acknowledge all except the driver.

Insurance for a specific number of individuals/seats. Having chosen insurance for a specific number of individuals/seats, the policyholder indicates to the insurance company the number of insured passengers and the insurance sum for a single passenger. The insurance sums for each insured individual/seat have to be equal. The driver of the vehicle can be insured along with the other passengers. If the number of passengers who got injured during an insured event exceeds the number of passengers/seats specified in the insurance agreement, the insurance sum is divided by the number of injured individuals. Insurance for a specific number of individuals/seats is only appropriate in cases where the number of regular passengers is not smaller than the number of insured individuals/seats.

auto insurance

Nominal insurance. Nominal insurance is not bound to a particular vehicle. Motor vehicle passenger insurance against traffic accidents and insurance for a specific number of individuals/seats is fulfilled by the driver or owner of the vehicle. Nominal insurance is fulfilled and paid for by the passenger of the vehicle. This type of motor vehicle passenger insurance against traffic accidents is usually chosen by those individuals who have to regularly ride in various vehicles owned by other individuals. The insurance compensation will be paid out to the nominal insurance policyholder regardless of the vehicle he/she was riding in and who the driver of the vehicle was.

Motor vehicle passenger insurance against traffic accidents usually covers the risks of injuries incurred to passengers during vehicle use, resulting disability and death. The concept of vehicle use is defined in the insurance agreement. Vehicle use usually covers both the driving and the getting in/out of the vehicle. Loading and unloading of the vehicle is often considered to be covered by the concept of vehicle use. It can also include the repairs done to the vehicle if it breaks down on the road and the saving of individuals injured in another traffic accident.


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