Specific Mileage-based Own Damage insurance covering damages not included in the vehicle's mandatory policy.
In the event that staff members (potentially including directors, officers, and managers) are required to use their own vehicles for business purposes, the company may take out specific Mileage-based Own Damage insurance to cover potential damages not covered by the vehicle's mandatory policy.
The definition 'Mileage-based' signifies that the company is exempt from the obligation of prior notification of the individuals to be insured and the prior identification of the vehicles used by them. The insurance premium is calculated based on an estimated number of kilometers, for which a deposit premium is paid. At year-end, the actual kilometers traveled by employees on business trips are declared, and the relative adjustment premium is settled.
The Company covers direct physical damage to vehicles caused by collisions, impacts, rollovers, or leaving the road while driving. Coverage also extends to theft, robbery, fire, natural perils, vandalism, and civil unrest.
