WHAT IS A CTP POLICY?
CTP is a compulsory insurance of civil liability of car owners. Every car owner must have a CTP policy, which is still valid. This auto insurance is required to protect people who are involved in traffic accidents. If you break another car in your car, fence, shop window or cripple someone, it will help the CTP in case of an accident: the insurance company will pay damages to the injured within the insurance amount.
The price of the insurance policy OSAGO, as well as restrictions on payments regulated by the state. This provides a low cost of insurance and the obligation to pay in case of an accident. The maximum payout amount is:
– up to 160,000 rubles for causing harm to the health and life of the victim;
– up to 120,000 rubles for damaged property to one of the victims, or up to 160,000 rubles for all.
The size of payments can be increased by means of voluntary civil liability insurance. Various insurance organizations offer the DSAGO service – for a small surcharge, the upper threshold of these figures can be increased by several times.
CTP is a compulsory insurance
Without a CTP policy you cannot drive your car, as it is fined for it. Also, your car will not put in the traffic police registration. Each driver who gets behind the wheel of a motor vehicle must be entered in the insurance policy, or it must be marked “unlimited” in the column for the number of drivers.
CTP insurance policy should be stored with all documents on the car, showing the traffic police in case of a stop. If you forget the policy at home, a law enforcement representative can pick up the car at a car park. We advise you not to throw out old policies for 5 years after their expiration date – so you can get a discount on future policies.
It should be noted that the CTP policy is not able to protect against vehicle theft or damage. For the full protection of the vehicle you need full CASCO insurance.