WAM [Motor Vehicles Liability Act] Insurance
WAM stands for Motor Vehicles Liability Act and is a mandatory insurance by law. The insurance offers protection to the victim (injured party) against the financial consequences of a collision.
By law, all motor vehicles that are on the public road must be insured. The damage covered by a WAM insurance includes:
- all material and personal injury as a result of the accident.
All this, of course, up to a certain maximum amount.
What to do in case of damage or collision:
- warn the damage support services of the insurers;
- note the registration number of the perpetrator, in case they want to drive off;
- in case of a mutual settlement, still file a report with the police.
If it is not known who caused the accident, call the police, and then submit a claim to the Motor Traffic Guarantee Fund.
Please contact the Business Banking Department at 477722, or send an e-mail to businessbanking@hakrinbank.com.