MTPL policy: do I need to take out new insurance after an accident?
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![MTPL policy: do I need to take out new insurance after an accident?](https://visitukraine.today/media/blog/previews/FRiyOnj86sOjFHGksFEYPGOraUEUHIqeVanOKDYD.webp)
In the event of a road traffic accident, the injured party will be paid compensation on the basis of a valid MTPL (motor third party liability insurance) policy. Find out more about whether you need to take out new insurance after an accident
All drivers in Ukraine are required to have a motor third party liability insurance (MTPL) policy. Valid insurance is a guarantee of compensation in the event of an accident. The at-fault driver's insurance company will cover the damage caused to the injured party. How the policy works after compensation and whether it is necessary to take out new insurance after a road traffic accident - we will tell you further in the article.
Do I need new CTP insurance after an accident?
Even after a road traffic accident in which the driver was at fault and his or her insurance company was forced to compensate the victim, the CTPCI policy remains valid until the end of the specified period.
However, there is a nuance. After compensation is paid by your insurance company, the available limit of road traffic accident coverage is reduced by the amount of compensated losses.
It is worth recalling that the maximum limit of coverage under a motor third party liability policy is UAH 160,000 in case of property damage and UAH 320,000 in case of personal injury.
Here is an example:
● a road traffic accident occurs;
● the insurance company of the at-fault driver pays compensation to the victim. For example, UAH 100,000 (out of a total coverage limit of UAH 160,000);
● the culprit's motor third party liability policy remains in force, but in the event of another accident, his or her insurance company will only be able to compensate for losses not exceeding UAH 60,000. The rest will have to be paid by you.
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If the rest of the limit seems insufficient, you can take out a new motor third party liability insurance policy with full coverage. However, keep in mind that it is impossible to use both policies in the event of an accident.
Remember that a motor third party liability insurance policy is mandatory for all vehicles in Ukraine. On the Visit Ukraine portal, you can buy a CTPCI policy from a licensed insurer for reliable protection on the roads of Ukraine. Packages with a deductible of UAH 3200, UAH 1600 and UAH 0 are available.
Just to remind you. The cost of a motor third party liability policy may vary depending on various factors. Find out about current tariffs, conditions and what determines the price of insurance here.
Photo: Freepik
Want to know more? Read the latest news and useful materials about Ukraine and the world in the News section.
Your car is under reliable protection with a motor third party liability insurance policy from Visit Ukraine. Take out a policy quickly and without any hassle, get favourable insurance conditions and full protection in case of an accident. With a motor third party liability insurance policy from Visit Ukraine, you will always be sure of your safety on the roads of Ukraine.
Do you have additional questions? Contact the Visit Ukraine hotline (Telegram | WhatsApp).
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