Motor Insurance
Ukrainian insurers offer 3 basic types of motor insurance covers: A) CASCO (insurance of the motor vehicle itself) -
this type of cover shall provide an indemnity with respect to damages sustained by the insured vehicle. Please remember that the indemnity is not payable in just any event nor always in the amount, which you expect to receive from the insurer. To avoid disappointments you have to bear in mind that the description of events which may give rise to a claim and method of calculation of the indemnity amount are regulated by an insurance contract which may not meet your expectations…
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B) Third Party Liability
This type of insurance cover shall provide an indemnity in event the Insured becomes liable for a loss or damage caused to a third party property of health (for example if an Insured becomes liable for a road accident resulting into a damage to other motor vehicle). As a rule, the indemnity under this type of cover is payable directly to the third party which has sustained damages, and which is supposed to protect client's assets form unbudgeted and may be substantial expense. However, in the same manner as it is done with CASCO cover, the indemnity is not payable in any event and also not always in the amount you expect to receive form insurer.
C) Personal Accident cover for driver and passengers
This relatively inexpensive type of cover shall provide an indemnity in event of an injury or death of the driver or passengers of the insured vehicle resulting from an accident. This type of cover is not really very popular in Ukraine and in the other countries the clients would expect to have most of the perils which in Ukraine exist as a separate cover to be included under standard Third Party Liability policy.
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