What do I Need to Know About the Certificate of Motor Insurance?
Generally, in the United Kingdom, every private car owner is expected to have a certificate of motor insurance coverage intact in his vehicle before driving it to any location. You must ensure a copy of the document is kept in your vehicle, in case you have an accident and the attending police, want to see it.
There are also regulations regarding the issue of the certificate of motor insurance and these must be complied with by law. This certificate is about one- or two-page that you can access from the insurance company or
It is very important to note that a certificate of motor insurance is proof that you hold the minimum 3rd party insurance for your vehicle, as required by law.
However, the certificate of insurance is not complete if the following are not accurately arranged by the insurer: Name of the insurer; Signature/stamp of the insurer; Insured:Vehicle owners;Policy No: Your identity with the insurer;
Period of cover: From……………to……; Type of cover:Third party or comprehensive; Make of Vehicle: Toyota/Honda, etc; Registration No: AAA 385 BK; Class of the vehicle and Private or commercial and many others.
A. Certificate of motor insurance means written evidence of about one- or two pages that prove that the insured has a minimum of third-party insurance for his vehicles as legally required by law.
B. CMI can be defined as a document issued by the insurance company to their respective policyholders, encoding the details of cover, the vehicle and the owner, the name of the insurer, types of cover, policy no, period of cover, registration no, etc. It is proof that one has insurance coverage on his/her vehicle.
c. Certificate of Motor Insurance is a prepared document issued by the insurance company, which provides details about the use of the vehicle, policyholder, and insurance policy involved. You can present it to the appropriate authority whenever the need arises.
Watch the video below to understand how a certificate of motor insurance works
What is the Specific Heading That Must Appear in CMI?
a The registration mark of the vehicle or can call description of the vehicle
b. The policyholder’s name.
c. Commencement date of the use of the certificate
d. The expiration date of the certificate
c. Person or classes of the persons entitled to drive:
d. Signature of the protecting insurance company
How to use a Certificate of Motor Insurance to make claims
For you make claims take photographs or evidence of the incidents that happened; ensure you report to the nearest police station; make sure you inform your insurance company within the period stated in the policy document (usually 30 days);
Ensure you complete the motor claims form & submit it with the required documents; Get approval from your insurer before authorizing the repairs; Adjustment the estimate of the repairs by motor engineers appointed by the insurer; Sending of an offer to the policyholder; Acceptance of offer;
Note that if the policyholder rejects the offer, then the insurer will send a counter offer; As the policyholder, you only sign the discharge voucher if and only if you are satisfied with the offer; Sign of discharged voucher and Collection of a cheque.
How do I get my Certificate of Insurance?
There is no special procedure to get an Insurance Certificate. When you buy a car/bike insurance policy or renew the car insurance policy, the insurer will issue the Certificate of Insurance along with other policy documents.
You need to submit all the necessary documents while purchasing/renewing a motor insurance policy to get the Insurance Certificate. There is no additional process to obtain the Insurance Policy Certificate.
Note that the Certificate of Insurance is a legal document, and the insurance company should issue the certificate without fail.
You should produce the Insurance Certificate along with other documents such as a driving license, registration certificate, and PUC certificate whenever your vehicle is stopped by the police for inspection. So, always keep a copy of the Insurance Policy Certificate in your vehicle along with other documents.
Why You Need Certificate Of Motor Insurance
a. To Protect Yourself and Others
An unforeseen event like a car accident can happen anywhere, at any time, and to anyone – regardless of who’s in the vehicle. One of the most important reasons to get motor insurance is to protect yourself and others.
For instance, if you do get in an accident and you don’t have reliable insurance to cover your costs, you’ll incur a heavy expense to cover any injuries caused to yourself or another individual.
Our motor insurance policy ensures to cover medical expenses incurred as a result of any injury caused by an accident. Your medical bills from surgery to hospital visits will be paid for by the insurance company; inevitably saving you time and money.
b. To Protect your Vehicle/motorcycles
A motor insurance policy primarily acts to protect your car, bike, or other personal vehicles. With a comprehensive motor insurance policy, rest assured that any damages caused to your vehicle during an accident will be covered by your insurance provider.
i.e. whether you need to send it for repairs after an accident, or your car has been stolen or has suffered any damage as a result of a natural calamity like fire, riots, explosions, strikes, etc., we will ensure you don’t have to bear the expenses to repair and restore your vehicle.
c. To cover Third Party Damages
Still, wondering why it’s important to get motor insurance? This policy will ensure that if you are involved in an accident that involves a third party, whether a pedestrian, another vehicle, or someone’s property, your expenses to repair, pay for hospital bills, etc. will be covered by the provider.
Without a comprehensive insurance cover, you will have to pay damages to any third party; from hospital bills, to property or vehicle repairs. Our motor insurance cover protects your finances and reduces your liability.
d. To Covers Legal Costs
More often than not, victims of accidents will attempt to sue you for damages or injuries. In the event you are facing a lawsuit, our motor insurance policy will protect your wallet from incurring these expenses. Legal fees can really burn a hole through your wallet and savings, so we ensure that any significant expenses that should arise from a case filed against you for a road accident, will be taken care of.
e. For the insured, certificates of insurance serve as proof of coverage—proof that can be provided to customers, contractors, or other third parties quickly and efficiently. COIs also indicate that the insured has the financial resources available to protect those who may be harmed by their actions.
A motor insurance certificate gives you hope as a car owner that if any misfortune happened to destroy your car or vehicle, you will stand the chance of filing claims to your insurance company to reposition you in your previous state before the loss. It is a document of proof that you are under insurance coverage, it contains the name of the policyholder, the trademark of the vehicle, the commencement date, the expiration date, classes of persons to use the vehicles e.t.c.