Compulsory civil liability insurance for vehicle owners policy (Compulsory Motor Third Party Liability Insurance)

Compulsory Motor Third Party Liability Insurance is a compulsory insurance for vehicle owners. 

In the event of an accident, if the owner of the insurance becomes the guilty party, he/she will not have to pay compensation to all the victims - the insurance company will do it for him/her.

Advantages of obtaining a policy

• The highest scores for all indicators in MTIBU
• Number 1 in terms of speed of direct settlement
• Immediate registration of the contract in the MTIBU database 
• Possibility to choose the size of the franchise on your own: UAH 0, UAH 2,600

It is possible to buy a policy in advance: sign the contract now and choose any date of the contract's entry into force at your own discretion, but not more than 90 days. Thus, you will fix the cost of insurance, which is constantly growing.

ConcordBank's insurance partner is the Insurance company "UNIVERSALNA".

Frequently asked questions

What documents are required to obtain a CMTPL policy?

• Identity document (passport, ID card, driver's license);
• Taxpayer identification number certificate;
• vehicle registration certificate

What does the cost of the policy depend on?

The following parameters affect the cost of the policy:

• vehicle type;
• engine capacity or payload (for trucks);
• place of registration of the vehicle owner;
• franchise chosen by the client

What are the limits of liability for CMTPL policies?

The following limits apply from July 01, 2022:

• UAH 160,000 for each victim - for damage to property (cars, buildings and structures damaged by a vehicle while driving) of victims;
• UAH 320,000 for each victim - for damage caused to the life and health of victims

Can I buy a CMTPL policy in advance?

Yes, when applying for insurance, you can specify the start date of the policy, but not more than 90 days. This is very convenient, as policy prices only increase over time.

How to terminate the agreement or make changes?

You should contact any branch of ConcordBank

How long is CMTPL insurance for?

The agreement is concluded for 1 year.

Several family members drive the car, does the insurance cover them?

Yes, a CMTPL policy is valid for all persons who drive a vehicle legally and regardless of who is listed in the policy as the insured

What is a direct settlement?

In the event of an accident involving two vehicles insured by insurance companies that are parties to the direct settlement, the accident victim may apply for compensation not to the company where the guilty party is insured, but to his or her Insurer from whom he or she purchased the CMTPL policy.

List of insurance companies participating in the direct settlement system.

What is a franchise?

This is a fixed amount that is paid to the victim not by the insurance company, but by the driver in the event of an insured event.

What is the correct way to indicate the city of registration of the car owner?

Starting from January 21, 2019, the city of registration of the vehicle is determined by the place of registration of the owner of the vehicle specified in the vehicle registration certificate

Can I buy a policy for a car with foreign license plates?

Yes.

How is electronic CMTPL insurance settled?

If an insured event occurs, you should call the insurance company where the policy was issued as soon as possible. The phone number of the insurance company is indicated in the policy

You can take out an insurance policy by:

• online;
• contacting any branch of ConcordBank