Compulsory civil liability insurance for car owners
In a previous article on the theory of auto insurance, we looked at the basics of car insurance (CASCO insurance). We decided to devote this article to the most pressing issue - compulsory insurance of civil liability of vehicle owners.
Although this type of insurance has been mandatory since 1996, the greatest interest in it among potential clients of insurance companies has arisen only now, since the Law of Ukraine “On Compulsory Insurance of Civil Liability of Vehicle Owners” came into force on January 1. In fact, this type of insurance has acquired even more serious legislative support, as well as a truly massive character. If everything is simple with legislative support, then legislators had to ensure mass character with the help of penalties against those who operate a car without a civil liability insurance policy. So, in order.
Liability limit
The law provides that each owner of a vehicle moving through the territory of Ukraine is obliged to insure his civil liability for damage caused to property, life and health of third parties. Given the increase in traffic flow and, accordingly, the number of traffic accidents in many cities, this step is quite justified.
We are talking about a situation where the owner of the car becomes the culprit of the accident and must compensate for the damage to the injured party. The presence of an insurance policy at the car owner guarantees that the insurance company will pay for the damage to the victim. The law defines the limits of liability of the insurer. So, if you hit someone's car, the insurance company will pay for the damage in the amount of UAH 25,500 ...
How do insurers pay?
Understanding how much and in what situations the insurance company can pay the victim, it is also necessary to know what are the procedures for calculating and paying insurance compensation. Let's make a reservation right away that there are many issues unsettled by the Law, and even insurers who have been dealing with this type of insurance for several years will face a number of problems in the settlement of insurance events.
In the meantime, we have the following scheme of interaction between the insured (the insured client) and the insurance company. When an insured event occurs, or rather a traffic accident, the insured person is obliged to call representatives of the traffic police to the place ...