Types of Insurance
When a motor vehicle is registered, part of the payment is received by the Motor Accidents Insurance Board (MAIB). This payment allows a person to be paid benefits if they are injured in an accident. These benefits include hospital, medical and ambulance expenses and may also include allowances called a weekly disability allowance for employed persons, a self-employed person’s allowance, a housekeeping allowance and a dependant’s allowance. If a person, or their passenger, is injured as a result of the negligent driving of another person, they may be entitled to common law damages in addition to the benefits paid by the MAIB. A person is entitled to benefits and damages from the MAIB even if the driver at fault has not paid their premium, or if the injured person cannot identify the other vehicle involved in the accident.
To make an application takes three steps: report the accident to the police, report the accident to MAIB, and then make a claim within 12 months of the date of the accident.
Third Party Insurance
This type of policy only covers claims by other persons for damage to their property. It is normally taken out by owners driving a vehicle which they consider not valuable enough to insure comprehensively, or for people who feel they are unable to afford comprehensive insurance. Every owner of a motor vehicle should have at least this type of insurance. The insurance can be arranged at a relatively small premium cost. Third party insurance may also be the only type of insurance available for an imported vehicle through a non-specialised insurer.
This type of policy covers claims for property damage. It covers for claims by other persons for damage to their property, and also for damage to the person’s own property arising out of an accident.