MIBI Domestic Agreement: What You Need to Know
If you’re planning to drive in Ireland, it’s important to understand the Motor Insurers’ Bureau of Ireland (MIBI) Domestic Agreement. This agreement outlines the responsibilities of drivers and insurers when it comes to accidents involving uninsured or untraceable drivers. Here’s what you need to know:
What is the MIBI?
The MIBI is an organization that was set up by the insurance industry in Ireland to deal with claims arising from accidents caused by uninsured or untraced drivers. It’s funded by insurance companies, who pay a levy based on the number of policies they issue. The MIBI is responsible for compensating victims of accidents caused by uninsured or untraced drivers.
What is the Domestic Agreement?
The Domestic Agreement is a contract between the MIBI and insurance companies that outlines the responsibilities of each party in the event of an accident caused by an uninsured or untraced driver. The agreement sets out the terms and conditions for handling claims, including the procedure for making a claim and the documentation required.
What does the Domestic Agreement cover?
The Domestic Agreement covers accidents that occur on public roads in Ireland. It applies to all vehicles, including cars, trucks, buses, and motorcycles. If you’re involved in an accident with an uninsured or untraced driver, you must report the incident to the Gardaí (Irish police) within 24 hours and to your insurer as soon as possible. Your insurer will then contact the MIBI to make a claim.
How does the MIBI Domestic Agreement help drivers?
The MIBI Domestic Agreement provides a safety net for drivers who are involved in accidents with uninsured or untraced drivers. If you have comprehensive insurance, your insurer will usually cover the cost of the damage to your vehicle, but you may have to pay an excess. If the other driver is found to be uninsured or untraceable, your insurer will make a claim to the MIBI, who will compensate you for any excess you had to pay and any other losses you incurred as a result of the accident.
What should you do if you’re involved in an accident?
If you’re involved in an accident with an uninsured or untraceable driver, the first thing you should do is report the incident to the Gardaí. You should also take photos of the scene and get the details of any witnesses. You should then contact your insurer as soon as possible and provide them with all the information you have. Your insurer will then handle the claim on your behalf.
In conclusion, the MIBI Domestic Agreement is an important safety net for drivers in Ireland. It ensures that victims of accidents caused by uninsured or untraceable drivers are compensated for their losses. If you’re involved in an accident with an uninsured or untraceable driver, it’s important to report the incident to the Gardaí and your insurer as soon as possible. Your insurer will then handle the claim on your behalf and, if necessary, make a claim to the MIBI.