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Definition Of Vehicle Insurance

Definition Of Vehicle Insurance


Definition Of Vehicle Insurance - Before entering on the type of vehicle insurance, we should first understand what that insurance and vehicle insurance.

Insurance is an agreement between two or more parties in which the insurer to the insured committing yourself to accept insurance premiums to provide reimbursement to the insured because of the losses, damages or loss of profits expected or third party legal liability which may be suffered by the insured arising from an event which is uncertain. Such understanding based on law No. 2 of the 1992 year Effort Perasuransian.

More simply, insurance is a term that refers to the Act, the system or business or financial protection for the soul, health, property or assets, and so on from the events that are unexpected or uncertain. Parties who provide protection insurance or insurer is referred to as the insurance company. Being parties to the insured is the owner of the assets insured. 

Then the vehicle insurance is a special type of insurance for the vehicle. Things to consider in choosing an insurance company of the vehicle is the financial strength of insurance companies, services rendered, as well as the costs incurred to acquire the protection that is called a premium.
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