What is Optional Financial Liability Insurance (IMM) ?
IMM is an insurance that compensates the material, moral and physical damages caused by the vehicle owner to third parties as a result of an accident. In other words, it is an important type of insurance that means Optional Financial Liability and provides material and moral protection against accident costs.
In the event of an accident, the material and moral damages of the other party will be covered primarily within the limits of compulsory traffic insurance. IMM Insurance is activated in areas exceeding these limits.
In order to purchase Optional Financial Liability Insurance, it is sufficient to have compulsory traffic insurance.
Why do we need IMM?
IMM insurance protects the car owner's budget from high damage costs that may occur as a result of any accident.
Even minor damages caused by a traffic accident can result in large sums of money.
Let us give an example to explain how the Optional Financial Liability Insurance (IMM) covers the costs of damage caused by an accident.
Let's assume that the at-fault party caused 300.000 TL damage to the other party's vehicle due to a traffic accident.
Firstly, the existing traffic insurance of the at-fault party comes into play to cover this expense. Counterparty damages cover this damage within the scope of the 120,000 TL ceiling set by your Traffic Insurance for 2023.
The remaining payment of 180.000 TL is collected from you. At this stage, the importance of IMM insurance comes to the fore.
In the absence of IMM insurance, the owner of the at-fault vehicle will have to cover the cost of 180 thousand TL from his own budget.
If you have IMM insurance, the remaining damage costs are covered by the optional financial liability insurance.
Another important point at this stage is the IMM insurance limit.
As explained in the example, the remaining damage amounts are paid within IMM.
So a high and comprehensive IMM limit will help you fully protect your budget financially.
We have only shared the above example with you in relation to material damage. Now let's talk about physical damage.
Our example above was only for material damage. Now let's give information about bodily damages. If bodily damage is caused to the other party as a result of the accident, the medical expenses and death-injury coverages of the traffic insurance are activated. In the part that exceeds the limits of the traffic insurance, IMM insurance covers medical expenses and bodily damage costs. Optional Financial Liability Insurance limit is common for both financial and health expenses. For example, you have an IMM insurance with a limit of 20.000.000 TL, at the stage when the limits of traffic insurance are not sufficient, material and health damages are paid within 20.000.000 TL. Today, as a result of the increase in both vehicle repair costs and health expenses, IMM helps you to have an advantageous protection area.
* As of 1 January 2023, the minimum coverage for Compulsory Traffic Insurance is TL 120,000 per vehicle and TL 240,000 per accident. Health expenses, disability and death coverage is 1.200.000 TL per person and 6.000.000 TL per accident
IMM Limits and Why It Should be Preferred?
IMM limit refers to the coverage of damages / losses to both the other vehicle and third parties within the limit. IMM limits may vary according to the scope of insurance plans. 2,000,000 TL, 5,000,000 TL and unlimited package options called unlimited IMM are available. You can choose your IMM package according to your needs and budget. An IMM plan with a limit of 5,000,000 TL covers damage within a certain limit. In the unlimited IMM option, no limit is required to cover damage costs, even very high damages can be paid under IMM. Today, even minor damages in accidents can cause high financial costs. In this respect, it is very important to determine the limits of IMM insurance according to your own economic risks.
