The law on MTPL (compulsory civil liability of vehicle owners) was adopted in July 2003 and since then car insurance has been an integral part of the life of motorists. For non-observance of the law, the owner of the car will face an administrative fine. In addition, the absence of an OSAGO policy gives the traffic police the right to remove the license plate from the vehicle.
The insurance companies offer the following policies that cover various road and off-road situations.
OSAGO - compulsory motor third party liability insurance
• Guarantees coverage of damage to the other party if the owner of the traffic accident becomes the culprit. The limit of insured events is unlimited, but no more than 400,000 rubles (for property) are allocated for each situation subject to compulsory car insurance, the rest of the amount is paid by the perpetrator of the accident.
• Tariff rates are set by the state and do not depend on insurance companies. Do not give in to persuasion about huge discounts, you run the risk of running into swindlers.
• The contract of compulsory auto insurance can be concluded in any populated area.
• On specialized Internet resources, the calculator will calculate the cost of insurance, which depends on the driving experience; driver's age; the term of the policy; the number of people driving the car; the coefficient of failure-free; regional coefficients.
• If desired, in addition to the obligatory part, the client can insure the driver and / or passengers of the car (life and health).
• The CTP policy does not cover fires, natural disasters that caused damage to vehicles, as well as robberies and thefts.
• The culprit in the accident - the owner of the policy, does not receive any compensation and payments.
CASCO - comprehensive car insurance
In addition to compulsory auto insurance, vehicle owners are offered voluntary CASCO insurance. This type of policy is expensive compared to OSAGO and is not available to everyone.
When buying a car on credit, the bank often requires the buyer to issue a CASCO policy.
The insurance covers any damage caused to the owner of the car, regardless of the degree of fault in the traffic accident.
Insured events are negotiated at the conclusion of the contract and on the basis of this the price of the policy is calculated.
CASCO is not issued for domestic cars that have been in operation for more than 5 years, and foreign cars older than 7 years.
Green Card - International Auto Insurance
Mandatory for those leaving the country. Provides compensation payments if you are covered by insurance in other countries that have entered into an agreement with each other.
A green card is issued for the period of stay abroad and protects vehicle owners from the peculiarities of the laws of a foreign state.
