Information to read before entering into an insurance contract

• Information about the insurance intermediary
  • Information about the insurance intermediary
• Insurance terms and conditions from JSC VUSO Insurance Company
  • Information document of the product "Voluntary motor third party liability insurance"
• Insurance terms and conditions from JSC ARX Insurance Company
  • Information document of the product "Voluntary motor third party liability insurance"
• Insurance terms and conditions from JSC USG Insurance Company
  • Information document of the product "Voluntary motor third party liability insurance"

• What is the object of insurance under a voluntary motor third party liability policy?

  Liability arising from the use (operation) of land vehicles other than that specified in the Law of Ukraine "On Compulsory Insurance of Civil Liability of Owners of Land Vehicles".

• What are the insured risks or events covered by insurance and limitations?

  The insured risk is the liability of the Insured or the Driver of the secured vehicle for direct material damage caused to third parties or their property as a result of a road traffic accident (RTA) involving the secured vehicle if the amount of damage caused to third parties exceeds the limits of liability established by the current Law of Ukraine "On Compulsory Insurance of Civil Liability of Owners of Land Vehicles".

  Insured events do not include events that occurred as a result of: 

  • towing a faulty or damaged vehicle if it is prohibited by the Traffic Rules;
  • participation in sports competitions, demonstrations, use of the vehicle for training and use as a taxi (in particular, if there are signs of use of the insured vehicle as a taxi - testimonies of persons, availability of photo or video materials confirming this, equipment (lighting devices, graphic markings, communication devices, etc.));
  • rental or lease of the vehicle.
• What is the cost of VMTPL and what influences its cost?

  The minimum insurance payment is 150 UAH.
  The maximum insurance payment is 1,621 UAH.
  The policy cost is affected by the amount of the insured sum and the region of operation of the secured vehicle.

• What are the possible consequences for the consumer in case of failure to fulfill the obligations specified in the insurance contract, including late notification of the insured event without valid reasons and late payment of the insurance payment or its next installment?

  The Insurer may decide to refuse to pay the insurance indemnity in case of late notification by the Insured (a person specified in the insurance contract or by law) of an event having signs of an insured event without valid reasons or failure to fulfill other obligations specified in the insurance contract or by law, if this has resulted in the Insurer's inability to establish the fact, causes and circumstances of an event having signs of an insured event or the amount of damage (loss) caused.

  Events occurring during the insurance period for which the insurance payment has not been paid within the terms stipulated in the insurance contract shall not be recognized as insured events. 

• Is it possible to take out a policy of VMTPL without a valid policy of MTPL ("Motor Third Party Liability Insurance")?

  No, it isn`t. 
  VMTPL is a voluntary insurance policy that is not valid without a compulsory MTPL (Motor Third Party Liability) policy.

• Can this product be purchased separately, without related and/or additional services?

  The insurance product is not a part of any package/agreement. The insurance product can be purchased separately.

• Conditions for obtaining a discount on the insurance product and promotional offers of the insurer (if any), including their validity periods.

  Discounts and promotional offers for this insurance product are not provided.

• List of information that is essential for assessing the insurance risk and determining the insurance payment.

  1) information about the secured vehicle (make, model, registration number, VIN);

  2) information about the Insured (surname, name, patronymic (if any), name of the Insured, date of birth, RNOKPP (or, if not available, passport series and number - for an individual), EDRPOU code, address of residence/place of business, contact details;

  3) additional information that is material to the assessment of the insurance risk:

  • the desired amount of the sum insured under the Agreement;
  • presence or absence of an internal insurance contract provided for by the Law of Ukraine “On Compulsory Insurance of Civil Liability of Owners of Land Vehicles”;
  • scope of use of the vehicle (private, official, special equipment, etc.);
  • age of the owner and/or vehicle driver (for individual policyholders).
    
    
• A warning to consumers about the need to familiarize themselves with the information before entering into an insurance contract.

  Before concluding the insurance contract, the consumer must familiarize himself/herself with the information on exceptions to insured events and grounds for refusal to make insurance payments, limits of liability of the insurer for a particular object of insurance, insurance risk and/or insured event, as well as the procedure for calculating and making insurance payments, which are provided in the relevant Information Document on the standard insurance product, which can be found in the block "Information to read before entering into an insurance contract" on our website:

  • Insurance terms and conditions of VUSO Insurance Company for the product VMTPL
  • Insurance terms and conditions from ARKS Insurance Company for the product VMTPL
  • Insurance conditions from USG Insurance Company for the product VMTPL