MOTOR INSURANCE

Hokitika Guardian, 28 March 1929, Page 3

MOTOR INSURANCE

THIRD PARTY RISKS

WELLINGTON,

March 21

The fees payable and the procedure to be followed by motor vehicle owners in respect of third party insurance risks are set out in regulations gazetted tonight. Companies willing to undertake Liiis class of insurance business are required to advise formally the registrar of motor vehicles at 'Wellington to that effect. Owners have* the light to nominate. the company with which they wish to insure, and in doing this they must indicate the class of .their vehicle, the make, the engine and chassis, numbers, and, where applicable' the seating a:commodation. Sales or ' other disposals of vehicles have to be notified to tile companies, the former owners being required to specify the names and addresses to the purchasers,’ tlie registration numbers of the vehicles, their class and their make. Failure to give notice renders the ol tenders liable to .a fine of lib. Where the registration or a vehicle is cancelled because it has been destroyed, become permanently useless i.r permanently removed from New Zealand, the owner, on satisfying the company of the cancellation, is enabled to receive a refund equal to one-twelfth of tlie premium for every (ompleLe month between the date ol the. happening leading to cancellation and tiie end of the term of tlie insurance contracts. 'The sum of Cd is to lie diverted from every premium for administrative expenses. Specifying the premiums to he paid, the regulations make provision for insurance contracts entered into for periods of less than a year, with the object of reducing the full fee by cue-twelfth for every complete month under the 12. The premiums payable are as follows: Private motor cars, hearses and mourning coaches, tractors and true-

tion engines, eaeii £1 ; motor eyries. ! lbs: private cars used wholly or par- 1 tially for any trade or business exclusive nr'dical, religions, or social work, trade motors, registered maim- j factiirers and dealers’ motor vehicles j and vehicles not otherwise specified, each £1 It’s; trailers, bs; motor vehicles used by lire brigades, £2; motor .roaches. £3; public motor ears designed to seat seven, including the driver, x,7 10s; public motor ears, designed to seat more than seven, including the driver. £7 10s, with an additional £1 j 10s for every person in excess, but not 1 exceeding £lO 10. s in any ease; motor buses designed to seat 10, including [ tlie driver, £l2; motor buses designed I to seat more than 10, but not more j than 20. including tbe driver, £l2, with an additional £1 for every person in excess of 10; motor buses designed to seat more than 20, including the driver. £2B, with an additional 10s for every person in excess of 20. | Tlie regulations are to take name-/-, diate effect.