It is the part that the client participates in the accident, designed to encourage the insured’s interest in preventing risks, for the purpose of partial losses in partial damages of the car, the greater of the following values must be calculated 10% of the value of the loss, 1% of the insured value or minimum $ 150.
It is important to mention that these percentages may vary according to the policy.
The procedure takes around 2 weeks, considering that certificates must be obtained before different dependencies of the local government that manifest the possibility of transfer of the good, as well as paying taxes by transfer and surplus value in certain cases.
It is generally estimated that the expenses are based between 3% and 4% of the appraisal of real estate.
The letter of guarantee is a document that indicates the insured amount and deductibles that is sent by the insurance company to guarantee to the clinic that the expenses will be covered according to the terms of the policy.
In order to be generated, the medical report is needed with the date of the first symptom, diagnosis, images and exams of support, treatment to be performed, diagnosis, clinic and doctor schedules.
Accidental or spontaneous events that are not excluded in the policy are covered by the insurance, the compensation will be after leaving the deductible satisfied.
Automatic Reimbursement of the Sum Insured (for its acronym in Spanish), this value is calculated taking into account the value of the loss, the days of validity and the applied rate to calculate the net premium of the policy in question.
The purpose of the RASA is to maintain that portion of the loss insured, in case there was no RASA the vehicle would lose the value equivalent to the loss in its insured sum.
In order to obtain temporary residence for 2 years, as established by the Human Mobility Law, an appointment must be made on the website of the Ministry of Foreign Affairs in order to apply for a residence visa, submitting for this purpose, documentation duly legalized, apostilled and translated to Ecuador.
Once the application has been accepted, it should wait around 20 days in order for the competent authority to issue the visa granting resolution, for which purpose it will generate a new appointment to stamp the residence visa and obtain the order of corresponding ID.
There are values to be paid in favor of the different institutions of local and central government, which depends on the type of visa to be acquired.
For this it is important to refer to the general conditions of the policy and to apply the guarantees that are required.
The insurance does not cover the wear, useful life, negligence, abandonment of the vehicle, being in ethyl state at the time of the accident or the breach of traffic laws.