Question 1

The object of insurance

Accepted Answer

Land transport means owned, used or disposed of by the Insured on the basis of ownership, use or disposal.

The insured may be a land vehicle purchased on credit and/or pledged to JSC “CREDITWEST BANK”.

Question 2

Insurance risks and insurance limitations

Accepted Answer

1. Abduction, unlawful seizure

2. Damage or destruction of the insured vehicle as a result of:

· A road traffic accident is a collision with another vehicle caused by the driver of the insured vehicle, if the driver of the insured vehicle is the person responsible for the accident and a third party (the other vehicle involved in the accident) is identified.

· Road traffic accident means a collision with another vehicle without the fault of the driver of the insured vehicle, if the person responsible for the accident is identified and this person is not the driver of the insured vehicle.

· Military risks, namely, hit by missiles, unmanned aerial vehicles (drones), air defense, missile defense, fragments of the specified types of weapons or due to the impact of a shock wave from the specified types of weapons.

· External physical impacts of other random, sudden and unforeseen events, unless such events are excluded under the terms of the agreement

Insurance limitations:

· Vehicles with a service life exceeding 15 years;

· Motorcycles (motorcycles, motor scooters, mopeds, sidecars);

· Trailers for passenger cars;

· Vehicles registered outside of Ukraine;

· Vehicles equipped with refrigerators (refrigerators), equipment, tanks (tank truck, tank trailer), except for insurance of vehicle fleets.

· Special vehicles, namely: collection vehicles, ambulances, fire trucks and other operational vehicles of the State Emergency Service of Ukraine, operational vehicles of the Ministry of Internal Affairs);

· Utility and public transportation, including garbage trucks, buses, trolleybuses, electric buses, etc.

Question 3

Minimum and maximum amounts of the sum insured (limit of responsibility)

Accepted Answer

The actual value of the vehicle as of the date of the contract or as of the date of an additional agreement to the contract to change the sum insured.

Question 4

Minimum and maximum amounts of insurance premium and/or insurance tariff

Accepted Answer

The minimum insurance rate is 0.65%.The maximum insurance rate is 21.5%.

Question 5

Type, minimum and maximum franchise amounts

Accepted Answer

The minimum franchise fee is 0%.The maximum deductible is 5%.Deductible is the amount of loss that is not reimbursed by the insurance company.Type of franchise: unconditionalThe specific amount of the deductible is specified in the insurance contract by agreement of the parties.

Question 6

The territory and term of the insurance contract

Accepted Answer

The agreement applies to the territory of Ukraine, except for:

· of the temporarily occupied territories;

· territories where the state authorities of Ukraine temporarily do not exercise their powers;

· settlements located on the contact line;

· territories where active hostilities are ongoing;

· territories where a state-level man-made or natural emergency has been officially declared.

The status of these territories shall be determined in accordance with the List approved by the Ministry of Reintegration of the Temporarily Occupied Territories of Ukraine as of the date of occurrence of an event having signs of an insured event.

The terms of the agreement may also provide for the effect of the agreement on the countries of the European Union, the countries of the Schengen border regime, the United Kingdom, Ireland, Andorra, Bosnia and Herzegovina, Serbia, Montenegro, Kosovo, North Macedonia, Albania, the Republic of Turkey, and Moldova, Georgia, Armenia, Azerbaijan, except for the territories of Ukraine and other states where the recognized state authorities of Ukraine and the respective states temporarily do not exercise or do not exercise their powers in full at the time of occurrence of an event having signs of an insured event.

Insurance agreement may be concluded only for 1 year and shall enter into force from 00:00 of the date of commencement of the Agreement, but not earlier than the day following the day of payment of the insurance premium (first part of the insurance premium) by the Insured.

Question 7

Possible consequences for the consumer in case of failure to fulfill his/her obligations, specified in the insurance contract

Accepted Answer

The Insurer shall have the right to decide to refuse to pay insurance indemnity in case of late notification by the Insured (person specified in the insurance contract or legislation) of an event having signs of an insured event without valid reasons or failure to fulfill other obligations specified in the insurance contract or legislation, if this has resulted in the Insurer's inability to establish the fact, causes and circumstances of an event having signs of an insured event or the amount of damage (loss) caused.

If the insurance premium is paid in installments, if the Insured fails to pay the second and each subsequent installment in the amount specified in the contract, the Insurer's liability under the contract shall terminate at 00:00 a.m. on the day following the day specified in the contract as the date of the deadline for payment of the relevant installment. Any events that occurred during the period of termination of the Insurer's liability shall not be considered or recognized as insured events.

Question 8

Information on the possibility of purchasing an insurance product separately if such product is offered together with a related and/or additional product

Accepted Answer

An insurance product is not additional to other goods, works or services that are not insurance.

Question 9

Сonditions for obtaining a discount on an insurance product and promotional offers of the insurer

Accepted Answer

Discounts and promotional offers are not available.

Question 10

Information that is essential for the assessment of insurance risk

Accepted Answer

Before concluding the contract, the Policyholder shall inform the Insurer (Insurance Intermediary) of any circumstances known to him that that are of significant importance for assessing the insurance risk (determining the probability and likelihood of an insured event occurring and the amount of possible losses), and/or provide him with other information that is of significant importance for the Insurer's decision to conclude the Contract.

information about the Policyholder;
information about other CASCO agreements concluded in relation to the insured object;
the actual value of the vehicle;
the desired list of insurance risks and/or the selected amount of insurance coverage (liability limit) depending on the insurance product programme;
list of desired options under the contract, available for selection when concluding the contract;
territory and term of insurance coverage;
existence of encumbrances on the vehicle (pledge, leasing);
transfer of the vehicle for rent (hire), use for commercial purposes;
information about persons authorised to drive the insured vehicle;
type, make, model, registration number, chassis number, year of manufacture, owner's address and registration dates as specified in the vehicle registration certificate;
information about whether the insured vehicle is imported from certain countries;
list of additional vehicle equipment subject to insurance;
insurance history (if available);
franchise amount;
insurance payment conditions (service station option);
insurance payment conditions.

The Policyholder shall be responsible for the accuracy and completeness of the information provided to the Insurer upon conclusion of the Insurance Contract.

The Insurer shall have the right to request from the Policyholder any additional information and documents necessary for assessing the insurance risk upon conclusion of the Insurance Contract.

Question 11

Disclaimer

Accepted Answer

The policyholder is obliged to familiarise themselves with the following information prior to concluding the insurance contract:

exclusions from insured events and grounds for refusal to make insurance payments;
limits of the insurer's liability for a specific object of insurance;
insurance risks and insurance restrictions;
the procedure for calculating and the conditions for making insurance payments.