In the insurance industry, many terms are used, many of which are not understood by ordinary citizens. They are necessary to simplify transactions. What is an abandon in insurance? This concept is used in relation to property abroad. It is common in the field of car insurance. Now it is actively used in Russia.
Definition
Abandon is a concept that indicates the possibility of abandoning property in favor of the insurer. The beneficiary has the right to waive his rights to the object, if this is fixed in the contract. This is necessary to get the maximum benefit from the insurance company.
A traditional case of an abandon is the sale of property, after which the rights of the owner are transferred to the insurer, who pays all compensation. When the loss is found, the ownership of it passes to the insurance company. Abandon is not an absolute, peremptory norm, therefore, in some circumstances, a refusal to exercise the right follows.
Transport sphere
At first glance, it may seem that abandon is a simple norm, but in fact it is not. Although the terms of cooperation between the parties are specified in the contract, disputes often arise regarding the legality of applying the rule, the rules of payments and the amount of compensation.
Often conflicts are resolved in court. Most cases are won by the beneficiary or policyholder. Because of this, company experts are interested in judicial practice in the field of abandon.
Is this a right or an obligation?
Many people wonder if abandon is a right or a duty? This is the right that the beneficiary has. And for the insurer, the abandon is considered a duty, since he must accept the insured property. This norm is implemented using a letter sent by the insured to the place of residence of the insurer.
In this situation, there is no subject of an agreement under which the agreement of the parties to the transaction would be regulated. This agreement is signed in cases where you have to deal with technical issues related to the method of transfer of documents and property.
Statement
It must be executed by the beneficiary. This is done no later than the moment when the insurance indemnity is received . In marine insurance, the law is valid for 6 months from the definition of the insured event.
The application is forbidden to withdraw, as it is unconditional. According to the contract and the law, it is necessary that the beneficiary who has found the property must return the amount of compensation to the insurer. Only property damage is deducted.
Abandon spelling rules
This concept includes not only car insurance. Abandon should be drawn up if a constructive death of the vehicle was discovered. This is observed when the repair price is above 30% of its current market value. In these cases, very complex calculations are used that cannot be used by the car owner for several reasons.
Abandon is disadvantageous for Russian insurance companies, especially when the CASCO policy spread is observed. It is more convenient to pay a small compensation, due to which the restoration of the car can be covered, which is not possible due to the legal lack of knowledge of the owners of the transport. Therefore, if constructive death of a car is detected, it is necessary to use the services of a professional.
Services of Rosgosstrakh
This company offers to arrange car insurance. CASCO is popular among vehicle owners. To use the services of the company, you need to study the rules of insurance. Rosgosstrakh proposes to conclude three types of agreement:
- Full: the payment will be equal to the insured value of the car. And the damage is paid in full.
- Partial proportional: the amount is less than the insured value. Compensation occurs in proportion to the amount to value.
- Partial disproportionate: disbursement is provided for incomplete insurance.
The insurance rules Rosgosstrakh sets the following:
- Premium payment even in cases when the insured was guilty.
- If no more than 2 adjacent parts of the vehicle are damaged.
- In case of theft or damage, compensation is provided on the basis of depreciation as a percentage of the contribution.
- Not payable for point injuries resulting from animals or birds.
Abandon Registration Rules
The client is entitled to receive full compensation. For example, an insurer releases a vehicle damaged in an accident. In practice, the amount of compensation may be small. But usually car owners agree to this, because they do not want to sell on their own.
Abandon is required when the restoration of property is useless or it requires a lot of investment. The right to use the property passes to the insurance company. Abandon is issued in 2 ways:
- The conditions of cooperation are specified in the contract.
- An additional document is drawn up in which it will be said about the transfer of property.
The latter situation may contain one nuance. The company offers the client to draw up an agreement, which stipulates the transfer of transport to third parties, for example, a thrift store. Such transactions should not be formalized, since after the transfer of property, the client's right to abandon disappears. Therefore, compensation will not be paid to him. Insurance abandon is an advantage of the client, if this is stated in the contract.