How to return, terminate a CPPV policy

OCTPV or "Autocivilka" is mandatory insurance for every car owner. It is much cheaper to issue this document immediately for the maximum term, that is, for a year. But what if after a few months it turns out that the insurance is no longer needed? This can happen, for example, if the car is beyond repair or you are going to sell it. We tell you:

• How to properly issue a «Autocivilka»
• How to return insurance early
• What measures can the insurance company take

How to properly issue a «Autocivilka»

Liability insurance is mandatory for all Ukrainians who drive cars. The exception is some preferential categories. Disabled people of the first group who drive independently and participants in hostilities do not insure against liability. The Motor Transport Insurance Bureau of Ukraine is directly responsible for resolving their issues and covering expenses. And everyone else needs to buy a document. All that remains is to choose which method:

• Go to the insurance company and conclude a contract at the office.
• Order the document by courier.
• Execute an electronic document and pay for the service with a bank card.
• Execute an electronic document through the application of the bank whose services you regularly use.

The first two options should be chosen — if it is important for you to have a paper OSCPV. But since since 2018, the electronic one is also considered an official document — there is no such need. The electronic document can be printed, and at the same time you will always have the opportunity to copy it to any device. But if you lose the paper one — it will take some time to restore it.

The last option is convenient because if you come across scammers — you can contact the bank and you will be refunded the money transferred for the service. But this will not happen if, before applying for the policy, go to the MTIBU website and check the information about the company. Also, it will not be superfluous to read customer reviews on independent sources.

When you have decided on the choice of company - collect a package of documents, send it by mail, pay for the service and receive the policy. After a few days, you should check its validity. To do this, enter the number of the «Avtotsivilka» on the MTIBU website. There you will see that it is valid, registered in your name and all the information / dates are correct. If something is wrong - you will immediately find out and be able to solve the problem.

How can you return insurance early

What to do to return the policy or terminate it early, while returning the money, if possible? There must be good reasons for such a procedure:

• The client sold the car and now someone else drives it.
• The car is not subject to restoration, no one will be able to drive it physically anymore.
• The owner of the vehicle has died, and the property passes to relatives.
• The license of the company that issued the policy has expired. But in this case, it will be almost impossible to return the money. For this, we recommend that you apply for insurance only from trusted companies that have been on the market for many years.

To terminate the contract, you must submit an application. Indicate in it: the insurance number and vehicle number. Information about the client with whom the contract was concluded. It is also possible to state good reasons for returning the document.

What documents should be submitted with the application?

For example, you need to return the policy because you are selling a car. Then attach standard documents: receipts for payment of the OSCPV, a copy of your passport, the original insurance. And to them: a contract for the purchase and sale of transport. Accordingly, if the reason for termination is the death of the owner, then you must provide a death certificate. If the reason is the destruction of the transport, then a certificate of its disposal.

The amount that can be returned after termination of the contract depends on the number of days used. So, if you have issued a OSCPV policy for a year and return it in a month - the compensation will be greater than if you return it in six months. The maximum period for refunding funds: 30 days before the expiration date. But you should take into account - the compensation will be so insignificant that you may spend more money on processing and submitting an application.

If it makes sense to wait for compensation - the insurance company must transfer it 14 business days after submitting the application. Provide your bank card number for the transfer of compensation, because not all companies use cash in their work with clients.

What measures can the insurance company take

The insurance company has the right to refuse to refund the money if the client does not have a good reason to terminate the contract. This means that if you want to return the money after a few months because you "changed your mind", nothing will work.

Also, the insurance company can terminate the contract with the client on its own. This can happen if the client has intentionally provided false information about themselves. Or if the company has already exceeded the payment limit for insured events. Then the contract is canceled, since the company has fulfilled all its obligations. After termination, you must immediately re-purchase the CIP. After all, it is mandatory to complete it before hitting the road.