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Traffic Accident Compensation Guide: How to Secure Your Payout

Traffic Accident Compensation Guide: How to Secure Your Payout

In the event of a traffic accident, victims or their families may face difficulties in claiming compensation if the liable vehicle is uninsured or if the driver flees the scene. According to the Mandatory Automobile Liability Insurance Act, victims can apply for compensation from the Special Compensation Fund.

The Financial Supervisory Commission indicates that all vehicle owners must insure their cars to protect the rights of accident victims. Upon an accident, victims should promptly report it to the police and obtain a 'Traffic Accident Participant Registration Form'; within 7 days after the incident, they may request relevant information like scene diagrams and photographs from the police.

When applying for compensation, victims must prepare identity documents, diagnostic certificates, and receipts for medical expenses. To assist victims in efficiently applying for this insurance payout or compensation, the Special Compensation Fund also provides a 'Mandatory Automobile Liability Insurance/Compensation Application Instruction' document for victims at accident scenes, and offers a toll-free service hotline at 0800-565-678 for inquiries.