All the companies that are providing car insurance facility in Bangladesh

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Car insurance is now compulsory in Bangladesh. If you have a car, you have to insure it. Otherwise, there is a risk of being hampered by law enforcement. Often when the traffic police check the documents of a vehicle, they want to know if they have insurance papers, if any, they also check them. Therefore, it is better to insure your car for the sake of safety.

There are a lot of cars in our country now, when you go out of the house you can see how many cars there are in the country. There are so many cars on the road, especially private cars, that it seems that there are thousands of millionaires in the country.

Whatever he is, whether there are thousands of millionaires or not, there are thousands of private cars. And for all these cars there is also an auto insurance system. Many insurance companies in our country are offering car insurance. Let’s not know about all these insurance companies-

 

Take a look at what is in this article-
Companies that offer car insurance
General Insurance Corporation
Delta Insurance Company Limited
Express Insurance Company Limited
Pioneer Insurance Company Limited
Companies that offer car insurance
car insurance bd

 

General Insurance Corporation
Ordinary in name but it is an extraordinary insurance company. Established on May 14, 1983, it is the only national insurance company in Bangladesh where any of your insurance is completely safe and profitable.

Its head office is located at Dilkusha, inside Motijheel, Dhaka. In addition, the organization has 19 more branches in Dhaka district. There are 4 branches inside Motijheel. The other branches are at Bangabandhu Avenue, Babu Bazar, Farmgate, New Market, Mirpur, Jatrabari, Paltan, Malibagh, Mohakhali, Tongi and Savar.

Apart from car insurance, almost all types of insurance can be done in this government institution. Visit its website to know more about General Insurance Corporation.

Delta Insurance Company Limited
The original name is Green Delta Insurance Company Limited, but people know it as Delta Life. This is also a great company for car insurance. General Insurance Corporation is in the first place and Delta Insurance Company is in the second place. So if you are looking for a good company for auto insurance, this may be the best choice for you.

It has two branches namely Gno Grameen and Ordinary. Gano Grameen is located on Tantipara Road in Thakurgaon and the Ordinary Branch is located in Purana Paltan, Dhaka. Find out more by visiting the website of Delta Insurance Company Limited.

Express Insurance Company Limited
Another good company for car insurance is Express Insurance. Express Insurance Company Limited has many branches in Dhaka. The main branch is in Motijheel. Other branches are located at Kakrail, Malibagh, Paltan, Hatkhola and Topkhana Road in Dhaka.

All the districts and upazilas outside Dhaka where Express Insurance Company Limited has branches are: Agrabad in Chittagong, Khatunganj and Jubilee Road, SM Malay Road in Narayanganj and Jail Junction in Narsingdi. Learn more by visiting the website of Express Insurance Company Limited.

Pioneer Insurance Company Limited
Many of us, especially those involved in insurance policies, are familiar with this name. Pioneer Insurance Company Limited is a well known company for various types of insurance including car insurance.

Grameenphone, Bangla Link and Robi are almost all insured in this company. In addition, Unilever, Nittal Motors and SHBC Bank also offer services from Pioneer Insurance Company Limited. Visit their website to learn more about Pioneer Insurance.

 

Cancel third party insurance of the vehicle, what will be the compensation in case of accident?

The Road Transport Act 2016 in Bangladesh does not make it compulsory to have third party insurance for vehicles.

The Road Transport Act 2016 in Bangladesh does not make it compulsory to have third party insurance for vehicles.

In Bangladesh, the Insurance Development and Regulatory Authority (IDRA) has issued a notification canceling third party risk insurance or third party insurance.

This ‘third party insurance’ was offered to compensate if a person was injured or killed by a vehicle, or if any property or other vehicle was damaged.

In other words, third party insurance is the name given to insurer to compensate for the loss incurred outside the driver or passenger.

But the Road Transport Act 2016 in Bangladesh does not make it compulsory to have third party insurance for vehicles. This change has been made in insurance in keeping with that law.

What has been said in the IDRA notification?
According to the IDRA notification, Motor Vehicles ordinace, 1983) Ordinace no. LV of 1983) (Third Oarty Insurance or Act Liability) was mandatory. The Ordinace Act was replaced by the Road Transport Act, 2016 (Act No. 46 of 2016).

Sub-sections ((1) and (2) of section 80 of the Road Transport Act, 2016 have been enforced:

Passenger and Motor Vehicle Insurance – (1) The owner or organization of a motor vehicle may, if he so desires, insure the life and property of any motor vehicle owned by him for the number of passengers specified for transportation.

Video caption,
How unsafe is the public transport in Dhaka

(2) The owner or organization of the motor vehicle shall insure the motor vehicle operated under it regularly and the loss or damage of the motor vehicle shall be covered by the insurance and shall be entitled to receive appropriate compensation from the insurer.

Third party risk insurance has been canceled for this reason.

An official of the insurance authority said that after the enactment of the road law, the finance minister directed to repeal the rule of third party insurance. Because even if it is done for legal reasons, it doesn’t really work. After canceling such policies, the insurance companies have been instructed.

What are the advantages and disadvantages of third party risk insurance?

Officials say that even though third party risk insurance was previously offered in Bangladesh, the maximum limit for compensation was Tk 20,000.

But even if insured, the rate of claiming this type of insurance is much lower.

According to the report of Bangladesh Passengers Welfare Association, in 2017, 5 thousand 514 road accidents took place across the country. A total of 6,221 people lost their lives in this. 15 thousand 46 people were injured. In the previous year, ie in 2016, 6,397 people were killed in 4,989 road accidents. The number of injured was 18 thousand 193 people.

But none of them received any compensation for insurance.

You can read more:
What is in the road transport law, as much as the pros and cons

Is the government giving concessions to implement the road law?

Who is responsible for road accidents in Bangladesh?

Will Rajib’s family get one crore rupees as compensation?

There are many allegations of irregularities in the transport system in Bangladesh
Photo source, GETTY IMAGES
Photo caption,
There are many allegations of irregularities in the transport system in Bangladesh

Bangladesh Insurance Association-BIA President Sheikh Kabir Hossain also said, “These policy owners are doing it out of legal obligation. Rather, comprehensive insurance will benefit both the owner and the insurance company. ”

However, Mozammel Haque Chowdhury, secretary general of the Bangladesh Passengers Welfare Association, says that even after all this time, there was a system of compensation for the victims of the accident. But that is no longer the case with the new law.

He suggested that not only funds, but also vehicle owners should be required by law to pay compensation to the injured passengers or the general public.

So how will the victims of the accident be compensated?
According to the concerned, there is no real compensation for the victims of road accidents at the moment.

According to the Road Transport Act 2018, a fund has been set up for the victims of road accidents.

From that fund, compensation of five lakh rupees for the killed and three lakh rupees for the injured has been promised.

In Bangladesh, the issue of insuring the movement of vehicles has been made optional
Photo source, GETTY IMAGES
Photo caption,
In Bangladesh, the issue of insuring the movement of vehicles has been made optional

However, Mozammel Haque Chowdhury, secretary general of the Bangladesh Passengers Welfare Association, said that although two years have passed since the law was enacted, no policy has yet been formulated on the use of the funds. A committee consisting of government officials as well as employer-worker representatives is to be formed to manage the fund. That too was not formed. No passengers or ordinary people were represented on the committee.

As a result, he is skeptical about how much the fund will actually benefit the victims of the accident.

However, Md. Dalil Uddin, a member of the Insurance Development and Regulatory Authority, said that they are now thinking about what can be done in case of a vehicle accident.

What is the cost of any insurance?
The law provides for optional insurance for passengers of vehicles.

However, if the first party is insured, compensation is available if the car is stolen or snatched, broken, or damaged in a storm. On condition

 

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