How many types of claims are there?

What is a vehicular loss

In the case of vehicles under financing, it refers to the individual or legal entity (financier) who is entitled to the payment of the corresponding services over any other vehicle. It must appear on the title page of the Policy.

It is the document through which the individual or legal entity can know its status before the SAT, date of registration with the SHCP, general data of the taxpayer, etc. If requested, it is processed through the web portal or SAT customer service modules.

In case the Policy holder is an individual with business activity or a legal entity with explicit tax obligations before the SAT, it is necessary to generate electronic invoices of its operation.

If at the moment of the report the attention to the claim is assigned through auto-adjustment, you will receive an SMS message with a link in which you can document the details of your incident. Once you have sent the information requested in the link, within 24 hours, you will receive by the same means the admission order to enter your vehicle to the repair center.

What is considered a loss?

It is that event which, foreseen in the insurance contract, causes damage to the person or property of the insured, thereby obliging the insurance company to indemnify the insured or his beneficiaries, under the terms set forth in the policy.

What is an insurance claim?

A loss is a key element in an insurance contract. It is the occurrence of one of the insured risks, where the Company has the obligation to indemnify, within the limits and with the exclusions agreed in the contract. All the damages derived from the same event constitute a single loss.

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What are accidents and their types?

There are several types of accidents, among which we find: Accidents at home: poisoning, burns, sprains, wounds, etc. Accidents at work: burns, frostbite, immersion, electrocution, etc. Traffic accidents: Collisions, run over, overturns, stray bullets, etc.

Types of automobile claims

This happens because individuals, organizations, companies or institutions protect themselves from these adversities by means of instruments with which they can compensate possible economic losses.

The various existing contingencies are identifiable in all types of economic agents. All of them, being susceptible to be considered as a loss, can be classified as follows:

The study over a given period of time of the occurrence of claims is known as loss experience. This concept favors the anticipation of events and allows the calculation of insurance rates.

What is the difference between an accident and a claim?

On the other hand, when we talk about an accident, we are talking about an event that can be prevented and is avoidable. They are predictable events, where what causes a certain event (a collision for example), unlike an accident, is causal, i.e. there is an avoidable cause that provokes it.)

What is a car accident?

Any event or contingency that happens while you are driving, whether it is a crash, car breakdown or any other phenomenon that puts you, your companions or your car at risk.

How is insurance classified?

The risk rating categories are, from lowest to highest risk of default, as follows: AAA, AA, A, BBB, BB, B, C, D and E.

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To help in this task there are tools, such as online simulators or calculators, which provide the user with all these data by simply filling in a simple questionnaire. These simulators make it possible to compare the prices of the different entities, something that is necessary to do every time a financial product is going to be contracted. If you need the advice of an expert, you can always turn to your agent, broker or bank-insurance company to guide you when taking out a contract.

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Once you have opted for insurance, it is important to decide how you are going to pay for it. It is worth bearing in mind that, on occasions, payment in installments can mean an increase in the final price, so it is necessary to be well informed before signing.

How many insurances are there in Bolivia?

At present, the ABA brings together 16 insurance companies (8 general insurance and surety companies and 8 personal insurance companies) that operate legally in the Bolivian market.

What is risk and loss?

risk (risk; peril; hazard) … There must be a possibility of risk; that is to say, the loss whose occurrence is protected by the policy must be “capable of occurring”. Such possibility or probability has two extreme limitations: on the one hand, frequency; on the other, impossibility.

What does property and casualty insurance cover?

Property and Casualty insurance protects the insured’s assets or business against damages suffered by the risks to which the property is exposed, as well as the consequential losses occurring as a result of the covered damages when the eventuality foreseen in the contract occurs.

Sample Claims

The average annual cost of auto insurance is about $800, but there is a huge variation because many things affect the price of a policy. All of the factors that affect the price of a policy help determine what the likelihood is that you will have an accident.

What is most surprising is that many of the factors in analyzing those odds are better at predicting that you may have an accident than your driving record itself. However, not all insurance companies use all of the predictive factors listed and some companies may use others that are not included. Generally speaking, the price of your auto insurance policy may vary depending on any of these factors in no particular order of importance:

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The more miles you drive, the more likely you are to have an accident.  If you use your car for work or drive a long distance to work, you will pay a little more than if you only use your car occasionally, known as “pleasure use,” in which case you will pay less for car insurance.

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