Compulsory civil liability insurance of vehicle owners
25 May 2011 Reading: 3 min Views: 5 488
Compulsory insurance of a car owner or vehicle
Compulsory Insurance for Car Owners or Motor Vehicles
The correct name of this type of insurance is compulsory civil liability insurance for vehicle owners, or compulsory motor third-party liability insurance (MTPL).In Kazakhstan, this type of insurance is provided on the basis of Law of the Republic of Kazakhstan No. 446-II of 1 July 2003 "On Compulsory Insurance of the Civil Liability of Vehicle Owners"
Why is this type of insurance called this way? Many people believe that they are insuring the car itself, and it would seem logical to call it compulsory car insurance, but this type of insurance does not cover the car; it covers the car owner's liability to third parties.
Insured event under compulsory motor liability insurance
Damage to the property and/or health of a third party in a road traffic accident. In other words, a payout is made if the insured person is at fault.
Why do you need a compulsory motor liability insurance policy?
For many car owners the answer is obvious: for the traffic police. This is partly true, since if a car owner does not have a compulsory motor insurance policy, the officer will impose a fine and may also send the car to an impound lot until the violation is remedied. But of course that is not all: the policy guarantees compensation for material damage suffered by third parties as a result of an accident caused by the car owner. The policy does not insure your car; it guarantees compensation for damage to another person if you are at fault
What compensation will be paid to the injured party?
for damage caused to one vehicle - 600 MCI
for harm caused to the life or health of each injured person - 1,000 MCI
Liability limits can be increased by concluding a voluntary motor liability insurance contract.
Direct settlement
This amendment to the law allows an insured car owner involved in a road traffic accident to apply directly to their own insurance company, even if they were not at fault. But, as everywhere, there are conditions
- both parties to the accident must have valid compulsory insurance policies
- both car owners were sober at the time of the accident and notified their insurance company in good time
- the place of registration of the vehicle;
- the type of vehicle;
- the client's age and driving experience;
- the vehicle's age;
- the presence or absence of insured events (bonus-malus).
For legal entities, the insurance premium depends on:
- the place of registration of the vehicle;
- the type of vehicle;
- the vehicle's year of manufacture;
Compulsory motor insurance plays an exceptional role in the social protection of the population when an insured event occurs, since it applies only when the insured person is at fault and is aimed at compensating the injured party.
Compulsory motor insurance can be purchased from any general insurance company in Kazakhstan. You can also order a compulsory motor insurance policy electronically on our website and calculate its cost in advance using the online calculator.
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