Understanding the issue of what is mandatory car insurance, it is worth paying attention to legislation. In the legislation, civil liability is interpreted as the obligation to compensate the damage caused to the party recognized as the victim. It turns out that the essence of motor civil liability is that you, as a driver, undertake to compensate for any harm that you may cause on the road. For example, you must pay for the repair of the car you crashed into, as well as pay for the pedestrian you hit, treatment.
Previously, after any accident, the victim and the perpetrator themselves had to understand the issues of compensation for damage to human health and the car. In this case, constant conflicts were common, since each side had its own subjective understanding of the amount of acceptable compensation. And the perpetrator was not always able to pay the victim the required amount. Because of this, additional difficulties arose in resolving the issue. The resolution of such conflicts in Russia turned into a civilized channel in 2003, when all drivers were obliged to insure motor third party liability insurance. This allowed drivers not to worry about the damage they caused, as the insurance company took responsibility for it. Damage is assessed by independent experts. Of course, this does not reduce the number of questions and complaints, but makes it possible to count on objectivity.
So, what is CTP and how does it all work? The legislation of Russia obliges each car owner to insure him a maximum of five days after the registration of the vehicle in the property. A car that does not have an MTPL policy will not be registered with the traffic police, while driving without a policy is prohibited.
If the question of what is CTP, it seems clear, it is worth talking about who is involved in motor third party liability insurance. This type of insurance has long been practiced in different countries, as it is the simplest method of compensation for damage that was caused as a result of a car accident. On the territory of Russia, only members of the Union of Auto Insurers who have the appropriate license issued by the Federal Insurance Supervision Service can carry out insurance of a car citizen. This organization is the guarantor of insurance payments, no matter what happens to your company. Even with its bankruptcy, due payments will be made to customers due to the fact that there is a special PCA fund.
What is CTP and how to get it, it is clear, but now we can move on to the question of what this type of insurance provides. This policy guarantees that if you become the culprit of a traffic accident, the insurance company will deal with damages. The injured party, the insurance company makes calculations depending on the average prices prevailing in the region where the accident occurred. If we are talking about a car that has damage, then the wear of spare parts is deducted from the entire amount. When calculating the amount of compensation for harm to health, the cost of providing medical services in a given region, care for the injured, and the amount of lost earnings are taken into account. And in the event of a tragic incident - compensation to the family in connection with the loss of the breadwinner, as well as expenses for his burial.
It’s a very troublesome task to receive reimbursement under mandatory liability insurance. Insurance is generally very difficult. First of all, it is important to act correctly when the insured event occurs. It is necessary to call the traffic police officer to the place of the accident, as well as to follow the correct filling of certificates and protocols. Since motorists understand how much time it can take, they rarely apply for insurance benefits with a few scratches on the bumper, broken mirrors or windows.