After a successful car purchase, the owner faces everyday issues. For example, purchasing a motor third party liability insurance (MTPL) policy, which is mandatory by law. Find out more about why such insurance is important and how to choose the right company to buy a CTP policy

Take out a car insurance policy at Visit Ukraine and get fuel as a gift

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Your dream has come true - and you are the happy owner of a new car. However, it's time to take care of the safety of road users and purchase an insurance policy of motor vehicle liability.

CTPCI or motor third party liability insurance is an insurance policy for vehicle owners in Ukraine. It is aimed at compensating for the damage that the victim suffers in an accident. The policy covers damage caused to the life, health and property of the accident participant.

In the absence of a motor vehicle liability policy, the driver will have to cover all the costs of repairs or medical services to the victims on his or her own, as well as pay a fine.

A reliable insurance policy will protect road users, and in the event of an accident, the driver will be sure that all losses will be reimbursed. This will reduce financial and psychological pressure. If all drivers have a car insurance policy, many misunderstandings and lawsuits can be avoided. But how do you choose a reliable car insurance policy among a large number of insurance companies? We'll tell you in this article!

What should you look for when choosing a motor third party liability insurance policy?

How do you choose a reliable MTPL policy? We suggest you follow these tips to help you make the right choice.

Choosing a reliable insurance company

Entrusting your safety and property to a random company whose name you've never even heard is not the smartest decision. Unknown small companies often go bankrupt, which causes troubles for their clients. 

Recently, the market has seen a wave of bankruptcies of insurance companies that did not meet the regulator's requirements for reliability, transparency, and asset quality. If the company ceases to operate, policyholders will face problems with reimbursement. Therefore, it is worth spending time on at least a minimal market analysis. Reliable insurance companies are always in the public eye, and you can easily find information about them on the Internet or social media. 

Pay attention to the following factors:

1. How many years has the company been operating in the market?

2. Does it always pay claims in full?

3. What places does the insurer take in open ratings?

4. Do you have access to various channels for feedback (website, phone, messengers, etc.)?

5. Has the company been involved in any high-profile scandals?

6. Is the insurer a member of MTIBU (Motor Transport Bureau of Ukraine)?

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Checking the terms of the insurance policy

But even if the chosen company seems reliable, you should not rush to sign the contract. Check the terms and conditions of the proposed motor vehicle liability insurance policy, including possible exclusions and limitations in coverage. Most problems in the course of settling insurance claims arise precisely because of a poor understanding of the terms of the contract.

It is important to keep in mind that when calculating insurance payments, the company takes into account the operational wear and tear of the car, which depends on the following parameters:

1. Market value;

2. The term of operation;

3. Type of vehicle;

4. Region of production.

In addition, the insurer may deduct the amount of the deductible from the amount of the insurance payment, i.e. the part of the losses that the insurance company does not reimburse.

Additional options

President Volodymyr Zelenskyy signed a new law that provides for a gradual increase in insurance amounts to a level that meets European standards. In particular, the maximum amount of payment for damage to life and health should be increased to UAH 32 million, and for damage to property - to UAH 16 million. 

However, the law will only come into force on January 1, 2025, and currently the maximum payment to victims is UAH 320,000 for damage to life and health and UAH 160,000 for property damage. In fact, these amounts are not large, so there is a risk that in the event of an accident, you will have to pay extra yourself. Therefore, it is better to spend additional funds to expand protection and avoid possible serious financial problems in the future.

Additional services

Some companies offer their clients bonuses for purchasing CTP policies: free fuel, towing, mobile tire fitting, etc. Such pleasant bonuses will be useful to absolutely every driver.

And most importantly, don't forget to update your insurance policy on time. Moreover, now you can do it online in just a few minutes.

Where to issue an MTPL policy?

It is better to buy insurance online because it is quick and easy. On the Visit Ukraine portal, you can take out an MTPL policy from a licensed insurer. Packages with a franchise of 3,200 hryvnias, 1,600 hryvnias and 0 hryvnias are available. 

What are the advantages of registering an MTPL policy on the Visit Ukraine portal?

- Fair market rates that guarantee payments. 

- A single pricing policy with service station partners that guarantees the restoration of the victim's car.

- Possibility to conclude a contract with a franchise of 0.00 hryvnias.

- One of the best Contact Centers in Ukraine that provides information support.

- One of the best settlements in Ukraine, which guarantees the protection of the budget of the Insured/Guilty party in a road accident.

In addition, all car owners who take out an MTPL policy on the Visit Ukraine portal will receive a certificate for free fuel as a gift: 

➤ When buying in the first 3 days of the promotion – 20 liters of fuel (for purchases from June 21 to June 23)

➤ In the next 7 days – 10 l (for purchases from June 24 to June 30)

➤ From 11 to 24 days - 5 l (for purchases from July 1 to July 14)

The promotional offer is valid from 05/21/2024 to 07/14/2024. 

We remind you! The President of Ukraine has signed a new law on compulsory motor insurance, which provides for a gradual increase in insurance amounts and establishes prompt payment of claims to injured persons. Read more about how the new law will affect motorists in Ukraine.

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