Total damage to a motor vehicle
Total damage to a motor vehicle
The insured users of Casco insurance services or the victims of motor third party liability insurance are of the opinion that a so-called "motor vehicle" has occurred with their motor vehicle. total damage. The Insurance Code lists what “total damage” really is.
"The total damage to a motor vehicle is damage, where the cost of the necessary repairs exceeds 70 percent of its actual value."
The cost of the necessary repairs is determined according to the defined method of compensation on the basis of:
1. invoice issued by a service pro forma - in case of damage recovery in kind, or
2. expert evaluation - upon payment of monetary compensation.
It is important for insurance consumers to be aware that once registration with the Traffic Police is terminated due to "total damage", it will no longer be possible to have the same car registered with the Traffic Police, even if all its damage is repaired.
Prior to the payment of compensation, defined as total damage to a motor vehicle registered in the Republic of Bulgaria, the insurer requires from the user of the insurance service a certificate from the competent registration authorities for the termination of the registration of the motor vehicle, stating that the termination of the registration is due to total damage.
Attorney at law Iuila Danova
#3, Dobrotica Str., Varna, Bulgaria
Mob: +359 895 64 59 40
WWW: advokatvarna.com
Email: iulia.danova@abv.bg