An Overview Of Knock For Knock Agreement In Motor Insurance
As a motorist, you are probably aware that it is mandatory to have at least third-party insurance to be able to operate your vehicle on the roads in the country. You may also know that you can opt for increased coverage with a comprehensive motor insurance policy. However, what you may not have heard of is the knock for knock agreement in motor insurance. Don’t worry for many motorists are not aware of this benefit in their motor insurance policy. The knock for knock agreement is a special agreement created by the General Insurance Council for third-party claims. Read on to understand how it can benefit you as a policy owner.
To understand the knock for knock agreement, let us first look at what normally happens during a claim involving a third-party. For instance, if your car has undergone damage due to another person’s fault, you will need to be compensated by their third-party insurance. However, going to court to raise your insurance claim might take a long time and prove to be stressful.
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