FAQ

What is the right of subrogation?

It is the right of the insurer who paid the payment to use the rights and remedies that the person who received the insurance payment has against the person who is responsible for the damage caused to him/her.

For example, a person who has insured his/her car is involved in a traffic accident and due to the fault of another driver who is a participant in the accident, the insured car is damaged in the amount of 800 manats. The person applies to the insurer and receives an insurance payment of 800 manats from the insurer. After paying the insurance payment, the insurer has the right to demand the amount paid from the driver who is guilty of the traffic accident. The transfer of the right to make such a claim against the guilty driver from the person to the insurer is called subrogation. (CASCO)

How many days does it take for the insurance payment to be paid?

No later than 7 working days from the date of receipt of the last of the documents provided for by the legislation, the insurer shall pay the insurance payment, or submit a written, justified notice of refusal to pay the insurance payment to the policyholder, the insured or the beneficiary.

What is the order of determination of the insurance amounts for the compulsory insurance of the civil liability of motor vehicle owners?

Insurance amounts under standard and border insurance contracts on compulsory insurance of civil liability of motor vehicle owners for damage that may be caused to a third party are determined as follows:

- 5,000 manats for damage to the health of one natural person, provided that the insurance amount does not exceed 50,000 manats for damage to the health of one natural person per incident;

- 5,000 manats for damage to the property of third parties;

The insurance amounts under the compulsory insurance contract of civil liability of motor vehicle owners do not change during the period of validity of that contract, regardless of the implementation of relevant insurance payments;

How is the insurance payment determined for the damage caused, if the fault of the third party is determined in addition to the insured in the occurrence of the insured accident, except for the cases of damage to the life or health of a natural person?

Except for the cases of damage to the life or health of a natural person, if the fault of a third party is determined in addition to the insured in the occurrence of the insured event Accident, the insurance payment for the damage is reduced by an amount proportional to the degree of fault of the third party. (Article 58.3-2 of ISQ)

What does insurance accident mean?

In compulsory civil liability insurance, compensation for damage caused to the health and (or) property of third parties as a result of the operation of the property (building, structure, motor vehicle, device, installation, equipment, etc.) specified in the relevant insurance certificate by the policyholder or insurance the occurrence of civil liability of the insured is considered an insurance accident.

My car is insured and I want to sell it. Will the insurance contract be terminated in this case?

The policyholder has the right to terminate the contract in case of alienation of the property to which the compulsory civil liability insurance contract of motor vehicle owners is covered in accordance with this Law.

NOTE: If a compulsory insurance contract for obtaining compulsory insurance cover provided for by this Law has been concluded with respect to the relevant property, unless the special section of this Law provides otherwise, if the owner of the property changes during the period of validity of that contract, including if the property is legally rented out or if it is given to another person in another way, taking into account Article 8.4 of this Law, it is not required to conclude a new compulsory insurance contract until the end of the contract period. In this case, all the rights and duties attributed to the policyholder under this Law apply to the new owner or user of the property.

Who are third parties?

With the exception of the policyholder and (or) family members of the insured, natural persons who are not parties to the insurance contract for compulsory civil liability insurance according to this Law, who suffered damage as a result of the action or inaction of the insured, and who at the same time have the right to receive insurance payment - the individual dies in this case, his/her family members - or legal entities, or their legal heirs are considered third parties.

What is the Exemption (Franchise) and how does it affect the premium?

The exemption amount is the part of the loss or damage caused by the insurance accident that is not covered by insurance coverage and remains on the responsibility of the policyholder. The exemption amount is deducted from the loss amount determined in accordance with the insurance contract, and in the case of partial insurance, from the insurer's share of the loss amount.

Part of the damage caused as a result of the insurance accident exceeding the exemption amount is paid by the insurer. For example, you have insured your car under the CASCO insurance type. An insurance accident occurs, and as a result of the assessment, it is found that your car is damaged in the amount of 1000 manats. If the franchise is fixed as 100 manats in the contract, then the insurance company will pay you 900 manats. You will have to pay 100 manats.

When should the insurance company be notified about an accident?

About the occurrence of an insurance accident, the policyholder or the insured person, or the beneficiary must notify the insurer or its representative, as well as the authorized state bodies that must be informed about the accident, by any means immediately after learning about the accident or within the shortest possible time.

What is the bonus-malus system?

It is a system of discounts and additions, which provides for the application of coefficients that increase or decrease insurance premiums, depending on whether or not there is an insurance accident that occurred due to the fault of the driver. For example, if you did not have any traffic accident during the last year when you insure your car next year, the amount of this year's insurance premium will be less than the insurance premium you paid last year. Otherwise, you cannot take advantage of the bonus-malus system if you are guilty of the incident.

What cases are considered insurance accidents under the compulsory insurance of real estate?

- actions of third parties.

- fire, lightning;

- explosion of gas used in household and production;

- short circuit occurring in electric wires;

-explosion of steam boilers, gas storages, gas pipelines, machines, apparatus and other similar installations or devices;

- failure of water, heating, sewage pipelines and fire extinguishing systems, as well as flooding as a result of water entering from neighboring buildings, residential and non-residential areas, residential houses and buildings, apartments, and rooms;

- the impact of any object or its parts falling, throwing, hitting, spilling, discharging and other such forms;

- hit by a ground vehicle;

- natural disasters – earthquake, volcano, storm, hurricane, hail, flood, downpour, landslide;

- actions of third parties.

What is travel insurance?

It is a special type of insurance that insures the life and health of a citizen traveling abroad. This type of insurance guarantees 24/7 medical assistance and payment of medical expenses in case of sudden illness or accident while traveling in any country of the world.

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