MOTOR INSURANCE.

Shannon News, 12 April 1929, Page 3

MOTOR INSURANCE.

THIRD PARTY RISKS.

PROCEDURE TO BE FOLLOWED

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 recently. Companies willing to undertake this class of insurance business are required to formally advise the Registrar of Motor Vehicles at Wellington to jfchat effect. Owners have the right to .nominate the company with which they wish to insure, and in doing 'this they must indicate the class of their vehicles, their make, the engine . and chassis numbers, and, where applicable, the seating accommodation. Sales or other disposals of vehicles have to be .notified to the companies, the former owners being required to specify the names and addresses of the purchasers, the registration numbers, of the venicles, their class and their make. Failure to give this notice renders offenders liable to a fine of £5. Where the registration of a vehicle is cancelled because it has been destroyed, becomes permanently useless or permanently removed from New Zealand, the owner, on satisfying the company of the cancellation, is enabled to receive a refund equal to onetwelfth of the premium for every complete month between the date, of the happening leading to cancellation and the end of the term of the insurance contracts. .. The sum of sixpence is tc be diverted from every premium for administrative expenses. (SCHEDULE OF FEES.

Specifying the premiums to be paid, •the regulations make provision for periods of less than a year, with the object of reducing the full fee by onetwelfth for every complete month under the 12. The ‘premium's payable are as follow. — Private motor cars, hearses and mourning coaches, tractors and traction engines, each £l. ■Motor cycles, 15s. Private motor cars used wholly or partially for any trade or business (exclusive of medical, religious, or social work), trade motors, registered manufacturers’ and dealers’ motor vehicles, and motor vehicles not otherwise specified, each £1 10s. Trailers, ss. Motor coaches, £3. Public motor cars designed to seat seven, including the driver, £7 10s. Public motor cars designed to seat more than seven, .including the driver, £7 10s, with an additional £1 10s for every person in excess/ but not exceeding £lO 10s in any case. Motor buses designed to seat 10, including the driver, £l2. Motor buses designed to seat more than 10 but. not more than 20, including the driver, £l2, with an additional £1 for every person in excess of 10. Motor buses designed to seat move Ilian 20, including the driver, £2B, with an adidtionallOs for every person in excess of 26.

The regulations are to taka immediate effect.