Read more about Car insurance
Why do you need car insurance?
A car is a valuable and desirable purchase for many people. However, driving is associated with many risks, which means high costs. To protect yourself from unforeseen expenses, a car owner can buy car insurance.
Usually, a car owner seeks to protect the car itself: from theft, weather problems, and the consequences of an accident. But the state requires insurance in case the driver causes an accident, so that the insurance company can compensate the victims. Therefore, several types of car insurance are available in Ukraine today. It is important to understand what you need.
Car insurance: what does it look like?
"Car insurance" is a conditional term. It usually refers to one of three types of insurance:
CASCO car insurance is a program to protect cars from theft and other transportation risks, such as flooding, fire, hooligans, and falling trees. This insurance is most often purchased for new cars, especially in Kyiv and other cities with heavy traffic,
"motor third party liability insurance" or CTPCI policy is a mandatory insurance of the driver's civil liability in case he or she causes an accident. This insurance is required by law, and more than 90% of Ukrainian drivers always have it with them,
Green Card - the same as the CTPCI, but for traveling to Europe and other countries. This document is checked by border guards.
What kind of insurance should I take out?
The policy is mandatory, so every responsible driver has to buy it once a year.
A Green Card is only required when traveling abroad in your own car. You can buy it right before you leave. You can sign a contract for a period of 15 days or more, and for frequent and long trips, annual car insurance is available. But whether to buy CASCO insurance for your car or not is up to each driver.
How much does car insurance cost?
The basic tariff, coefficients for changing it, and rules for calculating the cost of CTPCI are determined by law. The final payment will depend on the type of car, engine size, and region of registration. For example, for the same car, CTPCI will cost more in Kyiv than in Kherson.
In addition, the cost may differ from company to company, as it has been required by law since the fall of 2019. There are benefits for certain categories of drivers. You can save money through additional restrictions, such as a deductible. The insurance company can also give a discount: for example, for the total insurance experience without losses, for several years.
You can calculate the price of CTPCI insurance for a particular car online: many insurance companies and online sites offer this service. You can also apply for and pay for insurance online on the UNIQA website.
The tariff for hull insurance can be 3-6% of the cost of the car. But it can be difficult to calculate the cost of CASCO on your own. There are too many conditions to take into account: for example, who will drive the car - one driver or all legally? Will the reimbursement be calculated on the account of the company service station? Even in the same company, you can be offered different options for your budget and insurance terms. It is better to contact the insurer's office and ask for advice. We also recommend reading our blog.