Touching car insurance in Ukraine, we mean two key types of insurance policies:
- ‘OSAGO’ (the Third person civil liability)
- ‘CASCO’ (the Fully comprehensive transport vehicle insurance).
The first one is compulsory – availability of the special counterfoil on a windscreen may be checked by road police. In case of the document absence the driver will be fined for UAH 425-850 (Dec, 2012).
There are three types of this insurance which distinguish by extension of their service coverage (e.g. for one driver’s responsibility or a few people, authorized to drive etc.). The policy cost depends on the geographical zone (big cities are most expensive), volume of the car engine, deductible availability, expiration date. The total esteem varies considerably and may start from UAH 300-400 to reach a few thousand hryvnyas.
The second type of car insurance is voluntary. That refunds a car owner if a vehicle got damaged, was stolen etc. Its charge depends on coverage extension, deductible size, a car model and age, its engine volume, a driver’s experience term etc. Commonly price of CASCO policy is estimated for about 5-12% of the car cost.
Damaged reputation on CASCO refunding is a sore place of the Ukrainian insurance business. It is recommended to look through car owners’ independent reports on web to opt for an insurance company.
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