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Insurance concepts and terms
Insurance concepts letter V

VOLUNTARY INSURANCE - a form of insurance based on a voluntary agreement between the insurer and the policyholder. Insurance is carried out according to the insurance rules developed by the insurer. The voluntary insurance contract comes into effect, usually, after the payment of the insurance premium.

 

VEHICLE - a ground mechanical means of transportation that is subject to state registration and accounting in authorized units of the National Police of Ukraine or in the relevant ministries or agencies, as well as imported into Ukraine for temporary use, or a vehicle registered in another country.

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