Many car owners still do not understand exactly how OSAGO works and in whose name it should be issued. In this article, we will try to provide all the necessary information in detail to dispel all doubts.
Car insurance for the car or for the driver?
According to Ukrainian law, motor third party liability insurance covers the costs of an accident victim. This means that the policy holder insures liability to third parties, and in case of fault in an accident, his company pays the damages.
In an insurance policy, the most important data item is the car's VIN code. The car is insured based on the VIN code, and even if the license plate is changed, the insurance continues to be valid. Therefore, the insurance policy is issued for the car, not the driver of the vehicle.
Should I take out a policy for the owner or for the driver?
One of the most common questions is: "Whose data should I fill in the insurance order form?". Do I need to buy a policy for the owner or the driver?
It doesn't matter, because it is the car that is insured. The insured can be either the car owner or any driver. Everyone has the right to take out car insurance with all the necessary documents. But be careful, no matter how many car insurance policies you buy, the first one you take out is valid.
What to do if the owner changes?
We described this situation in detail in another article about transferring insurance to a new owner. In short, the insurance is valid when the owner of the vehicle changes according to the registration certificate. But be careful that the owner's registration area must be either the same or smaller. That is, if the former owner was registered in the region, and the new owner is registered in Kyiv, then it is necessary to cancel the previous insurance and take out a new one. Otherwise, the insurance continues to be valid.