INDIVIDUALS
Automobile
INDIVIDUAL ACCIDENT
HEALTH INSURANCE
LIFE INSURANCE AND CREDIT LIFE INSURANCE
SAVINGS AND RETIREMENT
ASSISTANCE
MULTI-RISK HOME INSURANCE
Automobile
INDIVIDUAL ACCIDENT
HEALTH INSURANCE
LIFE INSURANCE AND CREDIT LIFE INSURANCE
SAVINGS AND RETIREMENT
ASSISTANCE
MULTI-RISK HOME INSURANCE
In addition to compulsory civil liability coverage, insurance companies offer a range of coverage to better protect drivers and passengers and offer better compensation for damage to insured vehicles.
This coverage allows the passengers of the accident vehicle to be compensated even if the driver is responsible for the accident. Passenger policies cover medical expenses, short-term disability, long-term disability and death.
This covers material damage to the insured vehicle whether or not you were responsible for the accident, as long as another duly identified vehicle was involved .
This covers damage to the insured vehicle, whether or not you were responsible for the accident and whether or not another vehicle was involved. Notice of damage alone suffices for this coverage to apply, subject to contractual conditions, exclusions and limits.
These two coverages may, as a general rule, be taken out separately or jointly. In the event of a loss, the payment is equal to an expert determination of the market value of the vehicle as of the date of the fire or theft, minus a deductible indicated in the contract.
This coverage allows your insurer to take charge of your defense if you are sued in court following an accident involving your liability. It also allows your insurer to defend your interests by taking legal action against the party responsible for an accident in which you were a victim.
This coverage is purchased through an assistance company contracted with your automobile insurer. Assistance coverage provides you with certain services, such as the towing or transport of your vehicle, the transportation of passengers in the event of an accident or breakdown, and other services depending on the type of contract you chose.
This covers damage to the windshield and other windows of your vehicle. A deductible is generally applied to this coverage.
The joint report filled out and signed by the two drivers upon occurrence of an accident enables the insurer to identify the parties and learn the circumstances of the accident.
It is important to be aware that a joint report is an irrevocable document once it has been signed by the parties involved.
The joint report must be sent by each driver to their auto insurer within five working days after the accident date.
It serves as an accident report.
In the event that you are potentially partially or totally responsible for the accident, your insurer will trigger a procedure allowing you to benefit from the reimbursement of expenses incurred for the repair of your vehicle.
Many companies will direct you to an approved auto repair garage, and you will only have to pay the portion of the cost that remains your responsibility, especially if you are partially responsible or if a deductible is to be applied.
Note: If your vehicle is damaged beyond repair or it presents a danger to traffic, it will be written off.
The Direct Compensation Agreement allows insurance companies to directly compensate both of the insured drivers involved for material damages, regardless of fault.
This Agreement applies only to automobile accidents, regardless of the amount of damage to the vehicle.
Liability is determined on the basis of the joint report or the police report, and according to the liability scale set forth in the agreement.
The green card is mandatory for driving on European territory. It proves that the person is insured for damage caused to third parties in a traffic accident that may occur within Europe.
This coverage is only valid for countries shown on the green card. It does not cover compulsory “civil responsibility” toward third parties.
As for the orange card, it allows for the extension of civil auto liability coverage to Arab countries, in compliance with the provisions of the Tunis convention of 26 April 1975 between member countries of the Arab League.
As of July 6th, 2006, a new system known as “Rebate/Surcharge coefficient” has been put in place in lieu of the Bonus/Malus system.
These rates will be, respectively, 15% and 20% if you were using a vehicle intended for the public transport of travelers or if you were the holder of an auto repair shop civil liability policy.
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Health and Maternity coverage reimburses the subscriber, as well as their spouse and children, for medical expenses incurred as a result of illness, accident (other than work accidents), or pregnancy and childbirth.
The list of covered care, reimbursement rates and maximums are set forth in the contract.
Third-party payment agreements signed by insurance companies with certain service providers enable insured members to obtain care by only paying a small fraction of the costs.
These agreements concern private clinics, CNSS private hospitals, and radiology and analytical testing laboratories.
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This is a term life insurance policy that enables a credit-granting organization (bank or finance company) to protect itself against the consequences of the death of a borrowing client.
In this type of policy, the insurance company pays the policyholder’s debts when the policyholder dies.
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These are life insurance contracts whose value is expressed not in dirhams but in shares of securities (generally in UCITS shares). The financial risk here is borne by the policyholder, who is directly affected by the fluctuation of the underlying securities to which the contract is linked.
Unit-linked contracts are just being launched on the Moroccan market. They are much more likely to be available through banking networks than through the traditional networks of insurance agents and brokers.
This type of policy requires a certain awareness of the financial markets on the part of policyholders so that they can evaluate the investment risks that they are taking.
The risks are, however, mitigated given the long-term nature of the investment through an insurance company.
Capitalization contracts obtained through insurance companies benefit from a tax-incentive framework. The interest corresponding to the revaluation of the savings in this type of contract is completely exonerated from income tax after the eighth policy year. Contracts of the “educational savings scheme” or “project savings” type are particularly concerned.
In order to encourage Moroccans to save for retirement, legislators have put in place an advantageous tax system for retirement policy holders.
An employee may deduct the entirety of the premiums paid under a retirement contract from their annual taxable income, with no limit on amount. In other words, if their annual income is 200,000 dhs and they put 30,000 dhs per year into a retirement account, they will only pay income tax on 170,000 dhs of their earnings.
A non-employee (whatever may be their income category) has the right to deduct up to 6% of their annual taxable income by paying up to that amount into a retirement contract account. In other words, a non-employee who declares an annual taxable income of 200,000 dhs is allowed to deduct the equivalent of 12,000 dhs for retirement insurance premiums. Their taxable income is thus reduced to 188,000 dhs.
Employees who have other sources of income must choose between the unlimited deduction available against their salary income and the maximum 6% deduction on total earnings (salary and other earnings).
To benefit from these tax advantages, the taxpayer must enter into a contract of more than eight years and the benefit age must be greater than 50 years.
Upon expiration of the contract, insured taxpayers must pay tax on the accrued capital or on the payments that will be made to them. Reductions and calculation methods significantly reduce this tax, making this plan overall extremely advantageous, and ensuring that retirement insurance contracts are the best performing and most profitable investment in the long term.
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Assistance is provided prior to insurance in order to give logistical support in the event of an accident. This support is typically provided through a dedicated telephone platform that insured members can use to call for help. The types of coverage provided by assistance are varied and diverse. Below you will find a non-exhaustive list of the most widespread types of policies available on the Moroccan market.
This coverage provides the insured with help in the event of illness or an accident. Coverage typically includes:
Travel assistance provides certain services both in Morocco and abroad.
Most assistance companies offer policies that provide help and assistance 24 hours a day, with the support of foreign partners to enable a fast response in the event of an accident, theft, vehicle breakdown, illness…
Many countries, in order to grant a visa for entry into their territory, require travelers to present a valid travel assistance contract.
For instance, this is required in the Schengen zone. Contact your assistance company for more information.
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Multi-risk home insurance policies are for owners or renters of apartments, villas or freestanding houses that are used exclusively for residential purposes.
The policy includes basic civil liability insurance as well as a package of additional optional coverages that depend on the business policy of each insurance company.
This covers most damage caused by the following events:
This covers damage to your home or property resulting from water (leaks, burst pipes, water infiltration especially rainwater…).
Covers the disappearance or destruction of furniture and household goods belonging to the insured (including jewelry, precious objects and personal items) that result from theft or attempted theft.
Insurance companies generally extend this coverage to acts of vandalism, the cost of lock replacement, and sometimes even the cost of security.
Insurance companies offer a range of options to add to Multi-risk home insurance policies.
The following list is non-exhaustive and depends on the “product policy” of each insurance company.
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