Car Insurance: where to secure it when nobody wants you

Car Insurance: where to secure it when nobody wants you

The Act requires every owner of a car at least one insurance contract covering damages that may cause to third parties. But for many young drivers fulfill this legal obligation can be quite difficult as insurance companies do not want to have them as customers putting as excuse their high accident rate.

Thus, many young people have no choice but to go to Insurance Compensation Consortium. It is a public entity under the Ministry of Economy and Competitiveness, which It has an obligation to ensure all vehicle drivers They are certifying that they have been rejected, at least two private insurance companies.

As usual, Consortium policyholders are usually young drivers. 14.3 percent are under age 18 and 57.8 percent are between 19 and 25 years. Currently, the Insurance Compensation Consortium has 1,947 insured vehicles, mainly mopeds and motorcycles. Do you want to know what insurance covers the Consortium?

SI insurance Consortium includes

  • The repair damage caused to third parties by acts of circulation. Up to 70 million euros for damages to persons and up to 15 million euros per claim in property damage.
  • mechanical, pharmaceutical and hospital care: In the amount necessary to cure or consolidation of sequels, provided that the expenditure is duly justified.
  • Funeral and burial expenses: According to the customs of the place where the service is provided, in the amount justified.

Insurance consortium includes NO

  • Damage caused to third parties over the quantitative limits already explained in the previous section.
  • Damages caused by injury or death of the driver of the vehicle that caused the accident.
  • material damage to the vehicle itself or by the objects transported.
  • Claims for damages, legal expenses, travel assistance ...

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