Optional Liability Insurance

What is OLI?

OLI is an insurance that covers material, moral and physical damages caused by the vehicle owner to third parties as a result of an accident. In the event of an accident, material and bodily damages to the other party are primarily covered by the limits of compulsory traffic insurance. In the part exceeding these limits, OLI comes into play. It is not necessary to have a car insurance to get OLI insurance. Having compulsory traffic insurance is enough to get OLI.

What Does OLI Do?

OLI insurance protects the car owner’s budget against high damage costs that may arise as a result of an accident. Even minor damage in traffic accidents can cause very high costs. Let us explain with an example how OLI provides assurance against accidental damage costs;

Let’s assume that the atfault party caused 350.000 TL of material damage to the other party’s vehicle as a result of a traffic accident.
First of all, the traffic insurance of the atfault party comes into play to cover the damage costs. With a limit of 200,000 TL set for 2024, the other party’s damage is covered. An unpaid expense of 150,000 TL remains.
At this stage, the importance of OLI insurance becomes apparent. If the atfault vehicle owner does not have OLI insurance, he/she will have to cover the 150,000 TL cost from his/her own budget. If there is OLI insurance, the remaining damage costs are covered by the voluntary financial liability policy.
Another important point here is the limits of OLI insurance. As we explained in the example, the remaining damage costs are paid within the limits of the OLI. In other words, a high and comprehensive OLI limit helps to fully protect the budget financially.

Our example above was only for material damage. Now let’s talk about bodily damages. If bodily harm is caused to the other party as a result of the accident, the medical expenses and deathinjury coverages of the traffic insurance come into play. In excess of the limits of the traffic insurance, OLI insurance covers medical expenses and bodily injury costs. The OLI limit is common for both
financial and health expenses. For example, if you have an OLI insurance with a limit of TL 10,000,000, financial and health damages are paid within TL 10,000,000 when the limits of the traffic insurance are not sufficient. Today, as a result of the increase in both vehicle repair costs and health expenses, OLI provides you with an advantageous protection area.

What are OLI Limits and How to Select Them?

The IMM limit refers to the payment of damages to the other vehicle and third parties within the limit. OLI limits may vary according to the scope of insurance products. There are 3,000,000 TL, 10,000,000 TL and unlimited package options called unlimited OLI. You can choose your OLI package according to your needs and budget.
Packages with a limit of 10,000,000 TL cover damage within a certain limit. In the unlimited OLI option, there is no limit to the cost of damage, and even very high damages are covered by OLI. Nowadays, even minor damages in accidents can cause high financial costs. In this respect, the limits of OLI insurance are also very important.

Optional Liability Insurance

Secure the material and bodily damages that your business may cause to third parties.

Other Products

What is OLI?

What Does OLI Do?

What are OLI Limits and How to Select Them?