What is Traffic Insurance?
Compulsory Traffic Insurance is an insurance product that is made compulsory by the state for all motor vehicle owners and provides you with insurance for damages you may cause to other vehicles or third parties as a result of an accident.
What is the Difference between Compulsory Traffic Insurance and Motor Insurance?
Traffic insurance and motor insurance are two separate types of insurance that cover completely different risks. While traffic insurance covers the damages of the other party in case of an accident, motor insurance covers your damages.
Traffic insurance is compulsory, motor insurance is optional.
What are the coverage of traffic insurance?
Material Damage Coverage per Vehicle and Accident: This coverage covers the material damages you cause to the other party. If more than one vehicle is damaged in an accident in which you are at fault, the per-incident coverage is activated.
Health Expenses Coverage per Person and per Accident: This coverage covers the bodily damages you cause to the other party. Since the number of people in the vehicle is taken as basis here, the coverage varies according to the type of vehicle.
Injury and Death Coverage per Person and per Accident: In the event that you cause the death of a person as a result of an accident, it provides moral indemnity coverage for the burial expenses of the deceased and the relatives of the deceased. On the other hand, the disability coverage covers the losses incurred as a result of the other party becoming partially or completely incapacitated as a result of the accident.
Is no-claim discount applied in the Compulsory Traffic Insurance policy?
If there is no damage within the 1-year policy period, you will start to receive a no-claim discount starting with 10% on your traffic insurance. If you have no damage at the end of each policy period, this discount continues by increasing by 5% and you can earn a no-claim discount up to 20%, which is the highest rate.
Penalties Awaiting Vehicle Drivers Who Do Not Obtain Compulsory Traffic Insurance:
Drivers who do not have the specified traffic insurance face penal sanctions.
Vehicle owners who do not have their traffic insurance taken out on time, even if they do not have any accidents, their traffic insurance level remains constant and they lose the chance of a discount on their policy.
If the policy is not taken out or renewed, a delay penalty of 5% is applied for each month of delay.
If a vehicle without insurance is detected by traffic police, the vehicle will be banned from traffic by being towed to the car park with the help of a tow truck, and the vehicle will be kept in the car park until the vehicle owner obtains traffic insurance.
In this case, the vehicle owner is obliged to pay both the tow truck fee and the car park fee for the number of days the vehicle stays in the car park.