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Mandatory Automobile Liability Insurance – reduction in compensation due to negligence

 

uestion: 

I was involved in a traffic accident at crossing. The Stop sign was on my road.

I made a request for insurance claim; for damage, the insurance company compensated \960,000 – deducted by 20% (max. compensation \1,200,000), and for injury, the insurance company compensated \520,000 – deducted by 30% (max. compensation \750,000) even though I was qualified for 14th degree.  

I was not aware that there was reduction in an insurance compensation due to negligence.

What can we learn about it?

 

nswer: 

There is reduction in an insurance compensation because of at-fault-accident (when an insured is at fault).

 

                   Reduction ratio

 

For example

If damages caused by the accident is estimated \1,300,000  

\1,300,000\1,200,000(×0.80= \960,000will be compensated

If damages caused by the accident is estimated \1,000,000  

\1,000,000×0.80=\800,000 will be compensated

Please note that you will not be compensated for damages which you are at fault for 100%.

 

70%~80% fault =20 % reduction

80%~90% fault =30 % reduction

90%100% fault =50 % reduction

 

  It is examined and determined by Liability Survey Office, and insurance company confirms it.

 

 If you are dissatisfied with the reduction, you can certainly make a complain to the insurance company.