Can a Vehicle Be Insured During Seizure Period?
1 Answers
During the seizure period of a vehicle, it can still be insured. In the event of a traffic accident within the contract period, claims can still be accepted. Vehicles seized by the court are only restricted from being traded, not from being used. This also does not affect the insurance company's claim settlement. Below are the main procedures regarding claim settlement: 1. Case filing and inspection: Upon receiving the claim notice, the insurer should immediately send personnel to conduct an on-site inspection to understand the loss situation and cause, verify the insurance policy, and register the case. 2. Document review: The insurer reviews the relevant proofs and documents provided by the policyholder, insured, or beneficiary to determine whether the insurance contract is valid, whether the insurance period has expired, whether the loss pertains to the insured property, whether the claimant has the right to claim compensation, and whether the accident location falls within the coverage scope, etc. 3. Liability assessment: After receiving the claim request from the insured or beneficiary, and upon verifying the facts and reviewing the documents, the insurer should promptly determine whether it should assume insurance liability and the extent of such liability, and notify the insured or beneficiary of the assessment result. 4. Fulfillment of compensation: Based on the liability assessment, for claims falling within the insurance liability, the insurer should fulfill the obligation to compensate or pay the insurance amount within ten days after reaching an agreement with the insured or beneficiary regarding the compensation or payment amount. If the insurance contract specifies the insurance amount and the compensation or payment period, the insurer should fulfill the obligation to compensate or pay the insurance amount in accordance with the contract terms.
