It will bring significant changes to the mandatory auto insurance system, greatly simplifying life for drivers.
The main innovation is the principle of direct loss settlement. Now, in the event of a traffic accident, the injured driver will receive compensation directly from their insurance company. Previously, the insurance company of the party at fault was responsible for compensation. This new approach will significantly reduce the waiting time for payments and avoid complicated legal procedures.
These changes aim to make insurance a real tool for protecting drivers' interests, rather than just a formal document for inspections.
Increase in Insurance Payments
The new rules significantly raise the maximum compensation amounts:
- For injury to the victim – up to 500,000 hryvnias.
- For property damage – up to 250,000 hryvnias.
These limits are interim, and there are plans for gradual increases in the future to bring the Ukrainian insurance system closer to European standards.
Cancellation of Wear and Tear Coefficient
Another important change will be the cancellation of the wear and tear coefficient in the calculation of insurance payments. Now, insurance companies are required to restore the vehicle to the condition it was in just before the accident. This will ensure more equitable compensation.
New Rules for Parts and Repairs
The law introduces clear rules for the use of parts in car repairs:
- For cars up to 5 years old, only new original parts approved by the manufacturer will be used.
- For vehicles older than 5 years, the installation of high-quality analogs of original parts is permitted.
Repairs will be carried out at qualified service stations (SSS). If a vehicle owner declines the proposed repairs at three service stations, they will be able to receive monetary compensation to their account and arrange the repairs themselves.