Motor Own Damage (MOD)

1. Object of insurance – property interests of the insured or beneficiary that do not run counter to the laws of the Republic of Moldova-related to damage, destruction or loss of the vehicle, of the additional equipment as well as life and health damage of vehicle driver and passengers.

2. Insurer – JV International Insurance Company “TRANSELIT” JS, legal entity licensed to practice the type of insurance, a part of the insurance contract for a fixed payment (the premium) paid by another party, undertakes the obligation to compensate the damage to the insured property or life and health damage caused to the driver and passengers;

3. Insured – legal entity or individual with legal capacity who has attained the age of 18 years and owns a vehicle with ownership or as a possession under the certificate issued by the owner of the vehicle for the contraction of insurance contracts.

4. Territoriality – Motor Own Damage (MOD) insurance contract is valid in the Republic of Moldova, CIS and Europe (depending on customer’s request), with the exception of territories with armed conflicts, war, emergency situations.

5. Term of validity – the validity of the contract is usually 12 months, but a contract with a shorter period is also possible.

6. Insured risks – events cumulated in risk groups as follows:

6.1. Risks Group DAMAGES – material damage caused to the insured by damaging or destroying the vehicle and additional equipment as a result of:
a) traffic accidents;
b) vehicle impact with any objects: rocks, ice, branches of trees, poles and other objects, and so on;
c) fire, including the short-circuit and the explosion of engine or other aggregates of the vehicle;
d) fall into the abyss, skidding, overturning, sliding;
e) natural disasters, including storms, hurricane, tornado, torrential rains, heavy snowfalls, avalanches, earthquake, subsidence, landslide, including their direct or indirect action;
f) illegal actions of third parties.

6.2. Risks Group THEFT – theft, robbery, burglary of the vehicle of its components or spare parts; any damage due to theft, robbery, burglary or attempted of theft, burglary, robbery of the vehicle, its component parts and fittings, equipment taken in insurance as well as additional equipment and accessories if they are contracted under the contract and the insurance policy;

6.3. Risks Group ACCIDENT – covers injuries and the death of the driver / passengers of the insured vehicle at the time of occurrence of the listed risks in the risk group DAMAGES.

7. Insured amount – the maximum liability limit of the Insurer, the amount of money the insurer undertakes to pay insurance compensation if the insured event occurs. Insurance contract of the vehicle for an amount that exceeds its true value is not allowed. If the insured sum exceeds the actual value of the vehicle, the contract is void in that part of the insured sum which exceeds the actual value of the vehicle at the time of signing the insurance contract. In the case when the insurance contract was signed for an amount less than the real value of the insured vehicle the due compensation will be reduced proportionately to the ratio of the insured sum stated in the contract and the value of the vehicle.

8. Compensation insurance for damage or theft of the vehicle or its robbery, robbery of its parts or additional equipment, the amount of the actual damage is paid with the franchise application, if it was established expressly within the insured sum stated in the insurance contract if it corresponds to the actual cost of the vehicle or additional equipment.

The insurer shall pay the insurance compensation if the accident has resulted in infliction of injury, hurt or death of the insured person confirmed by documents of authorized bodies (police, hospitals, etc.) Compensation insurance for the insured people is determined for each seat separately. The insurance size is determined in accordance with Special Conditions for accident insurance. Insurance compensation is paid to the insured, the beneficiary or the person authorized by proxy issued in the established order, and in case of the insured death, to the beneficiary designated in the policy, and if he not specified separately, then to the heirs in the order and time limits set by law.

Insurance compensation is paid in cash, by transfer to the bank account of the policyholder / beneficiary or by transfer to the bank account of the damaged vehicle repair station (at the request of the Insured).

9. Insurance premium – payment for insurance. The insurance premium must be definitely paid by the Insurer to the Insured totally or by installments as a condition for the validity of the contract. The amount of the insurance compensation is set for each risk group based on insurance tariff (%) and the insurance period applied to the insured sum.

The Insured within 15 days after the insured event is obliged to submit to the insurer all the documents he owns for the realization of the right to claim against the person guilty for the caused damage and to fulfill all the formalities necessary for the right to regress.


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