This is a statutory entity established by the Supervisor of Insurance, in which all insurance companies participate according to their relative share in the Vehicle Insurance Sector. Its purpose is to provide compulsory motor insurance to drivers whom insurers refuse to insure, typically due to being classified as high-risk drivers or because the vehicle is considered high-risk. This may include young drivers (generally under age 21), new drivers, motorcyclists, and similar risk profiles. Such drivers may obtain compulsory insurance through “The Pool,” where premiums are typically 20%–35% higher than standard market rates.

In property insurance policies (as opposed to Compulsory Insurance), insurers require that policyholders bear part of the claim cost in the event of a loss. This amount is referred to as the "deductible" and is defined in the policy terms. The sum of the "deductible" varies between insurance companies. Its main purpose is to reduce the frequency of small claims. It is important to pay attention to the deductible amount, as a high deductible may make filing a claim financially less worthwhile. Through BEST PRICE, it is possible to compare deductible amounts before making a decision. Additionally, in some products, a deductible waiver may be purchased for an additional one-time premium.

This is the process by which the insurance contract is issued between the insurer and the insured. During underwriting, the clients provides details about the vehicle and the authorized drivers. Insurers also review accident history, driver demographics (such as age and gender), and the client's prior insurance record over recent years. Based on the vehicle and driver risk profile, the insurer determines the premium. It is essential to provide accurate and complete information during underwriting. Failure to disclose full and accurate details may result in denial or reduction of claim payments.

Depreciation (diminution in value) refers to the reduction in the vehicle’s market value following repairs after an accident. In severe accidents, even after repairs, the vehicle’s value may be adversely affected. The extent of depreciation is determined by a certified motor vehicle appraiser. The extent of depreciation is determined by a certified motor vehicle appraiser.

The insurance policy is the contractual agreement with the insurer in exchange for the premium paid. Vehicle Insurance policies in Israel are "standardized policies," meaning the Supervisor of Insurance has defined a uniform policy wording. The insurance company may not remove mandatory clauses but may add additional coverage extensions.

By law, the insurer must pay the claim amount within 30 days from the date of the insured event, provided all required documentation has been submitted. In the case of vehicle theft, the insurer is obligated to indemnify the insured if the vehicle is not recovered within 45 days from the date of theft. In the event of a vehicle theft, the company is liable for payment if the vehicle is not found within 45 days of the date of theft.

The premium is the annual amount paid to the insurance company in order to obtain the selected insurance coverage for one year.

Riders are additional coverages that can be added to a Comprehensive Policy (and sometimes to a Third-Party coverage). These extensions may be purchased for an additional premium and may sometimes be offered at no extra cost. Examples include coverage for vehicle accessories not included in the standard policy, towing and roadside assistance, replacement vehicle coverage, glass coverage, mirror coverage, and personal belongings coverage. Through BEST PRICE, a wide range of additional Vehicle Insurance services can be obtained to ensure continuous peace of mind while driving.

A Motor Vehicle Appraiser is a licensed professional authorized by the Ministry of Transport whose role is to assess the extent of damage and, in many cases, the amount of compensation payable to the policyholder or claimant. The policyholder has the right to select an appraiser from a list of external appraisers provided by the insurance company. This list is determined by the insurance company. The insurance company typically pays the appraiser's fees. The insured may also choose an appraiser who is not on the insurer’s external list; in such cases, the policyholder pays the appraiser directly and may subsequently claim reimbursement from the insurance company.