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Car insurance is an insurance contract that covers the risks created by driving cars in case of causing an accident.

There is a basic modality, whose contracting is compulsory for the owners of any vehicle, which is why it is compulsory insurance of the automobile that covers the civil liability of the owner and the driver of the vehicle - in the case that they are not the same person - for the damages and injuries that they cause to third parties. It also includes legal defense up to certain limits. This modality is regulated in detail by the state regulations.

Along with this basic modality, other voluntary supplements can be contracted: what is called voluntary civil liability insurance, which covers possible compensation to third parties over the amounts included in the compulsory insurance; the occupant insurance, the same as the previous one but specifically for the occupants of the vehicle; the insurance of own damages or insurance to all risk, by the damages that can suffer the vehicle of the own insured one; the insurance of moons, for the damages to the moons of the own vehicle, is a subspecies of the previous one; the driver's accident insurance, which is insurance on the life of the driver himself, since he is not covered by the compulsory insurance; legal defense insurance insofar as it is not covered by the mandatory; travel assistance, etc.

There is also the "franchise" variant that is used above all in all-risk car insurance that instead of covering the total of the loss, it only does so from an amount supported by the insured.

There are no basic modalities, they are called coverages and their characteristics are the following:

Civil Liability Coverage: this coverage only covers the damages or injuries caused by the vehicle that is insured to third parties, whether in their assets or persons, the theft of the vehicle and its damages are excluded.
Limited Coverage: this coverage covers the damages or injuries caused by the vehicle that is insured to third parties, whether in their property or persons and the theft of the vehicle is also covered, in this coverage the damage of the insured vehicle is not covered.
Broad Coverage: this coverage covers the damages or injuries caused by the vehicle that is insured to third parties, whether they are in their property or people, the theft of the vehicle is covered and the damage of the insured vehicle is also covered.
In all cases, legal defense coverage is covered.
In each coverage including the legal defense is specified the amount by which the insurance company will respond.

There are other coverages that each person chooses, just like the previous coverages if they need them or not, they are:

Adaptations or conversions
Accidents to the driver
Road aid
Index
1 Regulations
1.1 Spain
1.2 Argentina
1.3 Mexico
1.4 Chile
1.5 Dominican Republic
2 See also
3 References
Normative
Spain
See also: Law on the Regulation and Supervision of Private Insurance
In Spain, automobile insurance is regulated by Royal Legislative Decree 8/2004, of October 29, which approves the revised text of the Law on civil liability and insurance in the circulation of motor vehicles.1

Since 2013, it is possible to take out insurance for days, as is the case in countries such as Germany and England.2

Argentina
In the Argentine market there are four types of policies that have been categorized for a better organization and interpretation of the offer: coverage A - B - C - D. The coverage A, called Civil Liability, is a basic and mandatory coverage. Also known as Insurance against Third Parties, responds for damages and / or damages that the owner of the vehicle could cause to third parties and / or their property.

In the case of wishing the maximum level of coverage, it would be more appropriate to opt for coverage D - Against All Risk. It is usually recommended for cars 0km, at least during the first 3 or 4 years.

Using the services of online comparators, you can perform a comparison of insurance analyzing securities, coverage, services and assistance of each of the different insurers. This is the most effective way to find the most appropriate insurance according to the specific characteristics of your vehicle, the profile of the driver and the level of protection desired.

Mexico
As of October 2014, in Mexico, in some states, civil liability auto insurance became mandatory. There are 15 states (including Mexico City). With the reform of the Law of Roads, Bridges and Federal Motor Carrier, it is mandatory that the model cars from 2008 onwards, have insurance to travel on federal highways. The minimum coverage that must be counted is that of civil liability and must be able to cover the minimum amount of $ 100,000 pesos.

In case of not having insurance, the driver will be liable to a fine of between $ 1,400 and $ 1,800 pesos. As of 2016 it is mandatory that they have insurance, all vehicles from 2005 onwards, with a value of $ 135,690.

Chile
In Chile, automobile insurance is mandatory against personal accidents. Provides coverage in case of death and bodily injuries that are a direct consequence of accidents in which the insured vehicle intervenes. It is an insurance required and regulated by Law No. 18,490 and created by the Superintendency of Securities and Insurance. The | Sure SOAP can be contracted directly in an insurer or online in their websites or through the POS system.

The compensation amounts are:

Death: 300 UF per person
Total permanent disability: 300 UF per person
Partial permanent disability: up to 200 UF per person
Hospital medical expenses: up to 300 UF (level 03 FONASA) 3


Dominican Republic
In the Dominican Republic there is a basic modality whose contracting is mandatory for all car owners and drivers.

This modality is regulated in detail by Law 146- 02. It stipulates in part that compulsory insurance also covers injuries caused to third parties, including in turn the judicial defense up to certain limits.