Comprehensive insurance for vehicles mortgaged between banks - Licensing - Department of Insurance Companies

When you take a loan from a bank to finance the purchase of a car the first thing required by the bank is the borrower to conduct comprehensive insurance by (supplemental + compulsory) to ensure that the bank right if, God forbid, they have been the vehicle to the accident led to the destruction of a whole vehicle and write the word subject in the vehicle license thus a shrug that the borrower disposition to sell the vehicle only after the lien and decoding the bank caught the remaining amount of the loan and usually these instructions and procedures are only done in the first year of the insurers, but in the years follows, followed by the majority of the insured to Aigmon securing the vehicle including but only non-Dd (compulsory) and feel citizen Bouktoh this when the vehicle is exposed to the write-off, making it an accident shall pay the remaining amount of the private and surprisingly also pocketing the licensing department to Atjbr citizen vehicle owner pledged to hold comprehensive insurance but the only concern is the existence of compulsory insurance only to ensure the other party's rights and this is true if it were not installed mortgaged.To safeguard the rights of the other party do not include what caused the vehicle from damage only to others but must also include the right of the party that has funded the purchase of the vehicle and the safeguarding of its assets because it also funds other shareholders should be the relevant authorities to maintain them.Some citizens may resort to these actions to do some of the banks or finance companies to impose a certain insurance company and not others, making these companies impose some conditions and the prices are prohibitive and refuses to secure the vehicles without the other, making the citizen seize any chance to get rid of this control.The relationship between the bank and the citizen and the insurance company must take into account all the parties and leave the citizen's freedom to choose the insurance company of their choice which increases the fair competition among themselves regardless of the nature of the relationship between the bank and the insurance company where most of the currently banks linked to commercial relations with insurance companies, where he it is not permitted for any bank employee, or impose any insurance on the home company facilities because they interpreted it to charge the employee a certain commissions from that company, a violation.The absence of the role of the licensing department to impose the existence of comprehensive insurance for vehicles mortgaged wasted the rights of the bank to recover his money and makes the citizen on the run from its obligations towards him in case of his inability to repay the loan if it destroyed the vehicle completely and utterly becomes legally hunted.So through this article, I ask the following:1. impose licensing comprehensive insurance on any vehicle department pledged a specific destination or bring the written consent of the bank to accept any insurance license for the length of the loan term.2. Non-imposition of certain banks, insurance companies, whatever their relationship.3. activation control Insurance Authority on companies and prevent rejection secure any vehicle no matter what kind and give a reasonable price for insurance and not to exaggerate it and examine insurance for several years, up to the duration of the loan a maximum of at least rather than insurance for a period of only one year.4. Awareness of insurance for citizens and encourage them to develop comprehensive insurance and its importance for vehicles mortgaged a role that companies and banks together.5. activate the customer service departments in banks contacted at least a month of the license that the vehicle prior to the end where he is the only party and the hardest hit in the event of the failure of the citizen comprehensive insurance and took a written pledge from the moment it granted the loan.This requirement may provoke some citizens in the beginning, but you feel its importance if God forbid an accident of that vehicle mortgaged then will be giving thanks because he did it move and I call again to abide by the points set out above and studied by banks, insurance companies and departments licensing combined

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