Why is it necessary to read a CMPTL contract before signing it and which parts should one pay attention to if they want to avoid problems in the future? Nairi Insurance Specialists address all these points and share some important tips with drivers and car owners.
We, Armenians, are not particularly fond of paperwork and very often sign different contracts without reading them, shelve them at home and forget about them. Nairi Insurance Specialists share with you why it is important to carefully read a CMPTL agreement before putting your signature on it and which points in the agreements are worth paying attention to.
To sign an agreement, one needs to be in possession of the passport of the card owner, a social security card, and the vehicle’s technical passport.
Contacts
This part includes the email address and the telephone number. The Insurance Company sends all official information to the email address mentioned in the contract. This should be an active email address produced accurately. Please, check the accuracy of the email address in the contract for you to be able to be contacted at any point and to receive important information or notifications.
What if you don’t have an email address? Email address is necessary for signing a contract. There is no need to provide an imaginary email address or one that belongs to another person, as you might miss a very important piece of information. If you don’t have an email address, the Insurance Company will provide you one based on the insured party’s social security card details on ins.am domain. To access you email address, you simply need to enter the social security card number of the car owner followed by @ins.am in login field and the vehicle registration plate in password field.
Your mobile number is also important, as at times you may be contacted by phone to be notified of the expiry date of the agreement, or for similar questions/reasons.
Contract effective date
Another important point to consider is contract effective date, meaning the date and the time when the agreement becomes effective. The contract may be signed at a certain point but it may become effective say next day or at another time. Please, check the effective date before signing the contract, as your signature implies that you agree with the terms. The execution date deserves equal amount of attention.
Classes of use
Before signing the contract, it is also very important to note the class of use for the vehicle to avoid subrogation. If at the time of signing the contract, the vehicle is for social use but after some time it is exploited as a taxi, you should turn to your Insurance Company to make the necessary change in the class of use.
Finally, it will take you maximum 10 minutes to read the contract from cover to cover. Spare that time, be informed and keep safe!