OBJECT OF INSURANCE

EUROINS insures the owners, natural persons, of passenger vehicles (cars up to 9 seats, sport utility vehicles, mixed vehicles with maximum authorized weight not exceeding 3.5 t), up to 8 years old, registered in Romania and used for personal interest.

INSURED RISKS

·         Damage: Collisions, collisions with other vehicles or objects outside the insured car, falling of vehicles (dropping off cliffs, falling into the water while being transferred off/onto a ship, falling due to broken bridges), skidding, turnovers.

·         Compensation is also granted for scratches if the car also shows other direct damage except scratches, as a result of the same insured event.

SUPPLEMENTARY SERVICES

·         Expenses incurred by the transport of the damaged vehicle to the nearest repair shop that is qualified to repair the vehicle or to the usual parking space, within the territorial limits of Romania, in order to salvage or repair the vehicle if the vehicle cannot be moved by its own force, up to one transport per event and in the limits of normal transportation costs charged by specialized companies are also granted free of charge.

·         Compensations up to the limit of the sum insured are also given for:

-       Damage due to the measures taken during or immediately after the occurrence of the insured event for the salvage of the vehicle and damage control;

-       Damage to additional equipment fitted by the Insured and reported by him in the insurance application form, included in the sum insured and for which supplementary premiums were paid, only if the additional equipment was mounted on the vehicle and the damage is the result of an insured risk.

TERITORIALITY

The insurance is valid within the territorial limits of the European Union*. To extend the risk outside the EU*, an addendum shall be issued with an additional premium payment.

ISURED PERIOD

Insurance period is usually 12 months but not less than 6 months.

DEDUCTIBLE

The Insured shall bear a mandatory deductible of 0.5% of the sum insured (but not less than EUR 100) for partial or total damage.

THE SUM INSURED

Vehicles are covered by the insurance policy at their fair/real value on the inception date of the insurance, determined based on the invoice/catalogue value/price list from car dealers of the new vehicle corrected by the depreciation coefficients use by EUROINS.

THE INSURANCE PREMIUM

Insurance premiums are paid in advance and in full or in maximum 4 installments (the first installment is paid before the entry into force of the policy and the following before the due dates specified in the policy). The amount and terms of payment of the insurance premiums are specified in the insurance policy.

Given that the sum insured is determined:

a) in lei, the premium/premium rates shall be determined and paid in lei;

b) in euro, the premium/premium rates shall be determined in euros and paid in euros or in lei at the National Bank’s (B.N.R.) exchange rate.