Insurance payout in case of a road accident
Compulsory Third Party Liability Insurance for Land Motor Vehicles Owners Act of Ukraine introduces the compulsory insurance for the motor vehicles owners’ civil liability for compensation for damage to third parties resulting from a road accident.
This insurance covers all losses caused to life, health, and property of the third parties caused by a road accident and protects the property interests of the insured person. The damage caused by a road accident is compensated by the insurance company, even if the responsible person is not sufficiently solvent.
If the insured person has been involved in a road accident, to receive insurance compensation, he has to submit certain documents and an application for damage compensation to the insurance company within 30 days.
The insurance company is obliged to start an investigation within two working days from the date of the notification receipt that contains signs of an insured event, and to make requests for information necessary for the timely implementation of the insurance compensation.
The insurance payment is made directly to the victim or to organizations which provide services for the repair of damaged property, treatment of victims and other services related to compensation for losses.
According to the Act, the representatives of the insurance company must organize an inspection of the damaged car. If the insurance company has not examined the car within 7 days, it is better to contact an independent expert. Depending on the results of the examination, the insurance company issues a certificate indicating the documents that you submitted to the insurance company after the accident.
Within 15 days from the date of approval of the amount of insurance compensation with the person entitled to receive compensation, but no later than 90 days from the date of receipt of the application for insurance compensation, the insurance company is obliged: if it recognizes the applicant’s claims as justified, to make a decision on the implementation of insurance compensation and pay it.
The insurer is obliged to send the applicant a written notification of the decision made within 3 working days after it was made.
We advise you to file a claim if the insurer has not responded in the prescribed form after the expiration of the 15-day period from the date of submission of the last document to him.
If the insurer doesn’t fulfill its obligations within the time period established by law, the victim is entitled to receive compensation taking into account the inflation index and 3% per annum according to the Civil Code of Ukraine.
If you are faced with a similar situation, please contact ADVA. Our lawyers are ready to help you in obtaining the amount of compensation, both in pre-trial and in court.