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Car Insurance Agreement

Car Insurance Agreement Template for Indonesia

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Key Requirements PROMPT example:

Car Insurance Agreement

"I need a Car Insurance Agreement for a fleet of luxury vehicles used for a corporate executive transport service in Jakarta, Indonesia, with comprehensive coverage and additional driver provisions to be effective from March 1, 2025."

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Document background
The Car Insurance Agreement serves as the primary contractual document between an insurance provider and a policyholder in Indonesia, establishing the terms and conditions for motor vehicle insurance coverage. This document is essential for any individual or organization seeking to insure a vehicle in compliance with Indonesian law, particularly Law No. 40 of 2014 on Insurance and relevant OJK regulations. The agreement comprehensively outlines coverage scope, premium calculations, claims procedures, policyholder obligations, and insurer responsibilities. It includes specific provisions for risk assessment, coverage limitations, and claim settlement processes, while ensuring compliance with local insurance regulations and consumer protection laws. This document is typically required for vehicle registration, financing arrangements, and general risk management purposes in Indonesia.
Suggested Sections

1. Parties: Identification of the insurance company and the policyholder

2. Background: Context of the agreement and brief description of the insurance relationship

3. Definitions: Definitions of key terms used throughout the agreement

4. Scope of Coverage: Details of what risks and damages are covered by the insurance

5. Premium Payment Terms: Premium amount, payment schedule, and payment methods

6. Duration and Renewal: Policy period, renewal terms, and conditions for continuation

7. Claims Procedure: Process for filing claims, required documentation, and timelines

8. Exclusions: Specific situations and circumstances not covered by the insurance

9. Obligations of the Insured: Policyholder's responsibilities including vehicle maintenance and incident reporting

10. Obligations of the Insurer: Insurance company's responsibilities regarding claims processing and payment

11. Termination: Conditions and procedures for terminating the insurance policy

12. Dispute Resolution: Procedures for handling disputes between parties

13. Governing Law: Specification of Indonesian law as governing law and relevant jurisdictions

14. Notices: Methods and addresses for official communications between parties

Optional Sections

1. No Claims Bonus: Terms for reward system for claim-free periods - include when offering this benefit

2. Additional Drivers: Terms for including other drivers - include when multiple drivers are permitted

3. International Coverage: Terms for coverage outside Indonesia - include when offering international coverage

4. Installment Payment Plan: Terms for paying premiums in installments - include when offering payment plans

5. Roadside Assistance: Terms of emergency assistance services - include when offering this service

6. Replacement Vehicle: Terms for temporary replacement vehicle - include when offering this benefit

7. Workshop Selection: Terms regarding choice of repair workshops - include when offering workshop flexibility

Suggested Schedules

1. Schedule 1 - Vehicle Details: Detailed information about the insured vehicle including make, model, year, and registration

2. Schedule 2 - Premium Calculation: Detailed breakdown of premium calculation including factors and adjustments

3. Schedule 3 - Coverage Limits: Specific monetary limits for different types of coverage and deductibles

4. Schedule 4 - Approved Workshops: List of approved repair workshops and their contact details

5. Appendix A - Claims Form: Standard form for submitting insurance claims

6. Appendix B - Vehicle Inspection Report: Initial vehicle condition report and inspection details

7. Appendix C - Product Disclosure Statement: Detailed explanation of policy features, benefits, and exclusions as required by OJK regulations

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Accident
Additional Driver
Authorized Workshop
Certificate of Insurance
Claim
Commencement Date
Comprehensive Coverage
Deductible
Endorsement
Excess
Excluded Driver
Force Majeure
Insured
Insured Value
Insurer
Loss
Market Value
Material Fact
Named Driver
No Claims Bonus
OJK
Period of Insurance
Policy
Policy Schedule
Policyholder
Premium
Principal Driver
Private Use
Renewal Date
Replacement Value
Risk
Sum Insured
Terminal Date
Territory
Third Party
Total Loss
Underinsurance
Vehicle
Vehicle Registration Document
Relevant Industries

Insurance

Financial Services

Automotive

Transportation

Fleet Management

Leasing

Corporate Services

Risk Management

Legal Services

Relevant Teams

Legal

Compliance

Risk Management

Claims Processing

Underwriting

Customer Service

Sales

Operations

Finance

Policy Administration

Document Management

Relevant Roles

Insurance Underwriter

Claims Manager

Risk Assessment Officer

Legal Counsel

Compliance Officer

Insurance Agent

Fleet Manager

Corporate Risk Manager

Insurance Broker

Policy Administration Manager

Customer Service Representative

Sales Manager

Operations Director

Finance Manager

Vehicle Asset Manager

Industries
Law No. 40 of 2014 on Insurance: The primary legislation governing insurance business in Indonesia, including provisions for insurance contracts, rights and obligations of insurers and policyholders, and regulatory requirements
Indonesian Civil Code (KUHPerdata): Provides the basic framework for contract law in Indonesia, including formation, validity, and enforcement of contracts
Law No. 8 of 1999 on Consumer Protection: Ensures fair treatment of consumers (policyholders) and regulates business practices, including insurance services
OJK Regulation No. 69/POJK.05/2016: Regulates the business operations of insurance companies, including product design, risk management, and consumer protection
Law No. 22 of 2009 on Traffic and Road Transport: Governs road traffic and transportation, relevant for understanding vehicle classifications and mandatory vehicle insurance requirements
Minister of Finance Regulation No. 74/PMK.010/2007: Specific regulation on insurance companies' operations and financial health requirements
OJK Circular Letter No. 32/SEOJK.05/2016: Guidelines for insurance product development and marketing, including standardized policy wording requirements
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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