1. Insurance Object
The insured object is property held under the right of ownership, use, or disposal, namely: a vehicle (hereinafter referred to as the Vehicle), which is tied to the insurance interests of the Policyholder.
Under this product, technically sound passenger vehicles are eligible for insurance, including:
- Passenger vehicles with up to 9 seats (including the driver’s seat);
- Cargo vehicles (cargo-passenger, vans) with a total weight of up to 3,000 kg (inclusive);
- Special vehicles with a total weight of up to 3,000 kg (inclusive).
2. Insurance Risks and Limitations
Insurance Risks:
Traffic accidents (TA) involving two or more identified participants resulting from a collision (contact) of the insured vehicle with another vehicle in the TA, provided the driver of the insured vehicle is not fully at fault.
Insurance Limitations:
The following vehicles are not eligible for insurance under this product:
- Vehicles not registered in Ukraine or not subject to state registration;
- Vehicles without a chassis number (if not provided by the manufacturer or destroyed);
- Vehicles used as taxis, for car-sharing, test drives, driving lessons, competitions, substitute vehicles, or those in rental or lease;
- Vehicles of security companies, transporters (including dangerous goods carriers), public transport, law enforcement, emergency services, municipal services, courier delivery services, or airports, as well as military vehicles and demining vehicles;
- Vehicles in technically faulty conditions that cannot comply with road traffic regulations;
- Vehicles held as collateral or in leasing.
3. Minimum and Maximum Insurance Sum (Liability Limit)
The insurance sum is aggregate and is set by mutual agreement of the parties, ranging from UAH 150,000 to UAH 500,000.
4. Minimum and Maximum Insurance Premium and/or Insurance Rate
The insurance rate ranges from 0.3348% to 1.5263% of the insurance sum.
5. Type, Minimum, and Maximum Deductibles (if applicable)
Unconditional deductible: 0% of the insurance sum.
6. Insurance Contract Territory and Term
(Including activation procedure and insurance periods, if applicable)
Insurance Territory: Ukraine, except for:
- Temporarily occupied territories of Ukraine;
- Areas where state authorities temporarily do not exercise their powers and settlements along the line of demarcation;
- Areas of any type of military action;
- Regions officially declared to be under a state of emergency or recognized by state authorities as disaster-prone zones prior to the conclusion of the insurance contract;
Roads where sports competitions are held.
Insurance Term: 1 calendar year.
The contract becomes effective on the date specified in the Contract as the start date, but not earlier than the day following the receipt of the insurance premium (or first installment, if applicable) to the Insurer’s account.
7. Exclusions and Grounds for Refusal in Insurance Payouts
Exclusions:
Losses caused by:
- Military or political risks of any kind;
- Use of a technically faulty vehicle, violation of the Vehicle Operation Manual;
Misuse of the vehicle (e.g., for training, as a prop, in competitions, as a taxi, in rental/car-sharing);
- Events not specified in the contract as insurance risks;
- Towing with traffic violations, improper cargo loading/unloading;
- Failure to prevent unauthorized vehicle movement;
- Damage to wheel rims, tires, hubcaps, badges, license plates without damage to other parts of the vehicle;
- Minor damages (chips less than 3 mm × 3 mm) not affecting traffic safety;
- Operation of the vehicle by a driver under the influence of alcohol, drugs, or toxic substances;
- Use of summer tires from December 1 to March 1 (for accident risks);
- Mechanical or other internal breakdowns.
Grounds for Refusal in Payment:
- Intentional actions by the driver to cause the insured event;
- Submission of false information by the Policyholder/Driver about the insured object, circumstances critical to risk assessment, or the insured event;
- Breach of contractual obligations by the Policyholder/Driver;
- Failure to comply with lawful requests (e.g., inspection for intoxication);
- Full compensation of damages by the at-fault party to the Policyholder;
- Criminal actions by the Policyholder/Driver leading to the insured event;
- Failure to notify the Insurer of significant changes in circumstances affecting insurance terms.
8. Insurer’s Liability Limits for a Specific Object, Risk, or Case
Compensation is paid without a police report up to UAH 80,000 based on a European Accident Statement.
9. Procedure for Calculating and Terms of Insurance Payouts
Calculation Procedure:
The payout amount is determined based on the actual losses incurred by the Policyholder but cannot exceed the insured sum. For total loss, the compensation equals the market value of the vehicle before the incident minus the value of the damaged vehicle remains and the deductible.
Terms of Payout:
The Insurer decides on payment or refusal within 10 business days upon receiving all necessary documents.
Payouts are made within 10 business days from the date of the decision.
In case of refusal or delay, the Insurer must provide justification within 10 business days.
10. Consumer Consequences for Breach of Contract Obligations
Failure to comply with obligations may result in denial of insurance compensation.
11. Information on the Standalone Purchase of the Insurance Product
This insurance product is not supplementary to other goods, works, or services.
12. Discounts and Promotional Offers
This insurance product does not provide discounts or promotional offers.
