The mandatory Liability Insurance (OSAGO)
On the 7th of the February 2016 a law “On mandatory insurance of civil liability of car owners (OMTPLI) entered into force.
What is OMTPLI?
OMTPLI - is the mandatory insurance of civil liability of car owners, under which you can insure your liability on the road against third persons.
By purchasing OMTPLI policy you secure yourself from large problems in case when you are the one, guilty in road traffic accident. In this situation, our insurance company will pay to the injured in the insured event caused by you instead of you. In case of directly opposed situation, when you are the injured party, an insurance company of the one guilty in the RTA will indemnify you the loss.
Wherefore the OMTPLI is being implemented?
It is being long since a personal automobile ceased to be luxury. Quantity of automobiles in Kyrgyzstan increased for almost 100% for the past 20 years. Along with automobiles quantity growth the quantity of road traffic participants’ growths, who systematically breach the rules of the road. It is very often happening, when a small RTA can grow into large conflict right on the road.
The state has taken the decision to deliver its citizens from conflicts in RTAs and to turn to civilized regulation of conflicts and guarantee minimal material indemnity to the injured in the RTA.
One of the purposes of the law is the protection of persons, injured in RTA and their rights for indemnification of the caused harm during motor vehicle operation.
Advantages of OMTPLI for everyone
Constant violators become interested economically in accurate driving and in increase of safety of road traffic. After all the oftener the driver becomes the one guilty in RTA, the more he/she is obliged to pay for the OMTPLI policy.
What is the maximum amount to be paid at RTA if one has an OMTPLI policy?
The maximum limit of insurance liability of an insurance company at insured event will be stipulated by the Government of the Kyrgyz Republic.
Upon the insured event a real payment will be accomplished in terms of actual harm, but within the liability limit of the insurance company.
How much will the OMTPLI policy cost?
Insurance tariffs are ratified by the Government of the Kyrgyz Republic.
Questions and answers on OMTPLI insurance from the clients:
- Will my car be restored if I am the one, guilty in RTA?
No. Thanks to OMTPLI you protect your liability against third persons, but not your car. If you are the one, guilty in the RTA, - insurance company will help to restore the loss to the injured, but not to you. You shall repair your car at one\'s own cost and expense. That is the OMTPLI law. Nevertheless, we can offer you the voluntary insurance of exactly your motor transport vehicle despite of the fact whether you are guilty or not – CASCO.
- Why is it so expensive / cheep / exactly this amount?
Insurance premium is determined on the basis of tariff rates ratified by the Government of the Kyrgyz Republic and sum insured (liability limits).
- What can happen if I won’t buy the OMTPLI policy?
Availability of the OMTPLI policy by car owners in Kyrgyzstan is mandatory since February 7, 2016 and it (original) is necessary to be held together with the package of documents for the automobile (registration certificate, driving license, power of attorney, counterfoil of tax payment).
- Why the sum insured is limited?
Maximal limit and sublimits of insurance liability are established by the Government of the Kyrgyz Republic.
- An if the insurance limit will not be sufficient for the loss coverage?
If you are the injured party in a RTA, and the sum insured of the one, guilty in the RTA is not sufficient for the coverage of loss caused to your transport vehicle, the guilty party shall compensate you the rest of the amount. CASCO policy can help you in such cases. Having this policy in hands, you will get the possibility to cover expenses, connected with repair of your transport vehicle.
If you are the one, guilty in a RTA and the sum insured under your OMTPLI policy is not enough for coverage of loss, the rest of the amount you will have to pay from your own funds. VMTPLI (voluntary motor third-party liability insurance) policy exists for such cases. It allows to establish limit of sum insured upon your own discretion