There was an accident, and the company from which the policy was purchased is no longer operating.

Choosing a reliable insurance company to buy a policy is half the battle. Even if everything seems to be fine, the insurance company can be closed. The company's license can be revoked or declared bankrupt. And what should a client do in such a case if he or she has just had an accident at this time? How to choose an insurance company, who will pay for the losses, and what to do in such situations — read on.

How to choose a reliable insurance company

To minimize possible problems with insurance, you should buy it from trusted companies. The longer the company has been on the market, the less likely it is that it will go bankrupt.

Check the history of the insurance company: where and when it was registered, how many years it has been successfully insuring people, selling comprehensive or CASCO insurance. Be sure to check the website of the Motor Transport Insurance Bureau of Ukraine to see if this company has a license to distribute insurance.

After you buy a policy, be sure to check it by number in the MTIBU database. Make sure that the document has entered into force and will be valid until the required time. Keep not only the original insurance, but also the receipt confirming the payment you made.

What to do if the insurance company is no longer working

You cannot do without the help of a lawyer and a lawyer to receive compensation for damage. But first of all, gather the right package of documents:

• Court decision on the accident or a European report, if the case was filed under it.
• Report on the amount of damage, all receipts and certificates for work performed at the service station.
• Copy of the application to the insurance company.
• Standard documents: a copy of your passport, identification code, driver's license, a copy of your car's passport.
• Details to which you must transfer payments.
• Document / resolution confirming that the company went bankrupt or simply closed.

Who will pay the compensation?

This is the first question that worries drivers who find themselves in such a situation. The company closed and they lost the money they spent on insurance - it's not so scary. Buying a new policy for a year and losing a few hundred hryvnias or even a few thousand is not the worst thing that can happen.

It is much scarier to find yourself in a situation where the insurance company has stopped working and the driver has had an accident. Who should you expect payments from, who should you go to, and submit documents? After all, the money for repairs is far from a few thousand hryvnias, and the amount may be too much for an ordinary driver. Especially if he was counting on his policy in this matter.

You need to apply for documents to the Motor Transport Insurance Bureau of Ukraine. It is this bureau that issues licenses to insurance companies and is responsible for their reliability. If MTPL insurance is valid, you need to reimburse the payments, and the company has closed down - the MTIBU pays the money. The bureau has a special fund for this: the Fund for Victims of Road Accidents. Which was created specifically to close such issues.

Except for cases with closed insurance companies, MTIBU covers losses to victims of accidents involving drivers with benefits. For example, two drivers were involved in an accident, one of them (the one whose fault was the incident on the road) has benefits. Namely, he is a participant in hostilities. Such categories are completely exempt from liability and he does not need to buy MTPL. In such a situation, an application for payments must be submitted to MTIBU.

What to do if the company is closing, but has not been declared bankrupt?

In this case, it must pay the injured clients the compensation promised under the contract. What if this does not happen and the insurance company representatives avoid negotiations?

You need to do the same as with other unscrupulous companies:

• Apply to the company in writing and wait 30 days.
• Apply to the State Commission for Regulation of Financial Services Markets.
• After 15 days, if there is no result, write to the MTIBU.

It is important to remember that such situations are another reason to be vigilant when drawing up a report. Any incorrectly completed detail or any lost document can only aggravate the problem and reduce the chance of receiving compensation. To prevent this from happening, follow the rules for registration during an accident. Call the police and an ambulance, do not move the vehicle or remove anything from the road. Enlist the support of witnesses. Take photos of the damage and exchange contacts with other participants in the event.

If you follow all the rules and collect the necessary documents, there will be no problems with payments. Even if the company from which you bought the policy has closed. MTIBU will compensate for the damage from a special fund. And the only concern will be buying a new policy.