CMTPL

Description

The observance of road traffic rules is rather very important. Although, your organization’s drivers may as well stumble during the peak hours and cause damage to the third parties life, health or property.

In this case you are responsible for the damages caused and have to compensate them.

CMTPL is the best option for the solution of such problems. We will compensate the personal and property damages caused by yourself to the third party on your behalf.

 

INSURANCE OBJECTS

CMTPL is compulsory for the following means of transportation:

  • passenger vehicles,
  • buses, minibuses
  • trucks,
  • motorcycles,
  • tow-trucks,
  • trolleybuses

 

Damages subject to compensation

  • Personal injuries, damages caused as a result of a car accident to the injured person’s health and the resulted loss of salary (income), death of the injured person
  • Damages caused to the property

  

The maximum size of the compensation

  • In case of personal injuries, AMD 3.3 million per accident per injured person, AMD 33 million per accident per all the injured persons
  • In case of property damages, AMD 1.8 million per accident per injured person, AMD 18 million per accident per all the injured persons

 

Insurance period

CMTPL policy is signed for a minimum of 3 years and maximum 1 year, (except for “transit” and “temporary import” customs regime, as well as vehicles imported to RA territory by driving, for which CMTPL policy is being signed for a period of 10 days).

 

Insurance rate

The size of the amount to be paid for the CMTPL, the insurance premium, is calculated taking into account the following risk factors:

  • The type of the vehilce (passenger, truck, etc.)
  • The engine power of the vehicle
  • The purpose of vehicle exploitation (personal, service, taxi, etc.)
  • The availability of a trailer (except for trailers of agricultural purpose)
  • Policy period
  • The Bonus-Malus class of the Insured

 

You can get information on your current bonus-malus class online through CMTPL online surveys section located on Bureau’s website.

CMTPL policy can be issued at:

  1. The Company’s office at 3 and 5 Aram St., Yerevan, RA
  2. The Company’s website
  3. Any branch of “ARMECONOMBANK” OJSC
  4. By applying to SIL INSURANCE ICJSC (Agent call)
Documents

It is necessary to provide the following documents and details for signing a CMTPL insurance policy:

  • State registration certificate
  • Tax code
  • Bank account number
  • Technical passport of the vehicle
  • Contact details
CMTPL Conditions
Agreed Statement
Guide on property claims of up to AMD 100,000
BONUS-MALUS SYSTEM

Bonus-Malus represents a system of insurance premium discounts and extra premiums in the field of CMTPL, according to which the insurance premium defined per the CMTPL policy is calculated based on the insurance history of the insured.

Based on the insurance history, the insured gets either bonus or malus class appearing in a respective risk group.

Certain coefficients correspond to each Bonus-Malus class, the application of which brings up a change of insurance premium.

In other words, Bonus-Malus allows to create such conditions, when the disciplined driver pays less, whereas the risky driver pays more.

Bonus-Malus classes are defined as per the below table:

BM GROUP

BM CLASS

THE SIZE OF THE BM COEFFICIENT

HIGH RISK

Class 22

      250%

Class 21

      250%

Class 20

      250%

Class 19

      200%

 

MEDIUM RISK

Class 18

      144%

Class 17

      140%

Class 16

      132%

Class 15

      124%

Class 14

      116%

Class 13

      112%

Class 12

       108%

Class 11

104%

 

BASIC

Class 10

100%

 

LOW RISK

Class 9

97%

Class 8

94%

Class 7

91%

Class 6

88%

Class 5

85%

Class 4

82%

Class 3

75%

Class 2

65%

Class 1

50%

 

You can find more information on Bonus-Malus system here 

Guarantee Fund

According to the law on CMTPL, the Guarantee Fund is a fund created within the Bureau, at the expense of which compensations are provided to the injured persons, in cases stipulated by the Law.

The Guarantee Fund is formed from the lump-sum, periodic and additional installments by the Bureau members, from other means stipulated by the law, as well as from assets, where they have been invested, and income derived from their management.


On behalf of the Guarantee Fund, Bureau shall compensate the damages caused to the injured persons, if:

  1. the vehicle, which caused the damage, or the person responsible for obtaining CMTPL policy with regards to that vehicle, is unknown. In this case, Bureau shall provide compensation on behalf of the Guarantee Fund means only for the bodily injuries of injured persons.
  2. the damage was caused as a result of an exploitation of a vehicle, for which there is no signedCMTPL policy
  3. the damage was caused as a result of an exploitation of a hijacked or illegally captured vehicle without the purpose of hijacking
  4. the insurance company that provided a CMTPL policy of the vehicle, which caused the damage, has been recognized as insolvent (bankrupt), in case if the company was obligated to compensate the damage by law


Bureau may refuse the damage compensation on behalf of the Guarantee Fund means, if: 

  1. the grounds for compensation by Bureau on behalf of the Guarantee Fund means are missing or have disappeared
  2. the damage was caused by the vehicle, which is not subject for compulsory insurance
  3. the damage was caused as a result of a force majeure event
  4. the damage was caused as a result of terrorist, military acts, riots or mass disorders
  5. the damage was caused during the transfer of hazardous waste and is related exclusively to hazardous waste
  6. the damage was caused by the intent of the injured
  7. the damage was caused to the flora or fauna, air, surface or subterranean waters, crust of the state property
  8. the damage was caused to works of art, jewelry, gems and metals
  9. the insurance compensation is subject to payment by the insurance company
  10. in other cases stipulated by the law

Bureau has the right of subrogation, if:

  1. the vehicle, which caused the damage, or the person responsible for obtaining CMTPL policy with regards to that vehicle, is unknown
  • in this case Bureau holds the subrogation right against the person that caused the damage and the owner of the vehicle which caused the damage
  • in case if Bureau discloses the insurance company, which provided a CMTPL policy for the vehicle that caused the damage, then it obtains a subrogation right against that insurance company, in case if the latter is obligated by law to provide insurance compensation

 

  1. the damage was caused as a result of an exploitation of a vehicle, for which there is no signed CMTPL policy
  • in this case Bureau holds the subrogation right against the person that caused the damage and the owner of the vehicle which caused the damage

 

  1. the damage was caused as a result of an exploitation of a hijacked or illegally captured vehicle without the purpose of hijacking
  • in this case Bureauholds the subrogation right against the person that caused the damage

 

 

Examples and explanations of insurance compensations
Methodology of CMTPL Rates Calculation
Scale of CMTPL rates
What to do in case of an accident?

In case of an Insurance event, it is necessary to:

In case of property damage of up to AMD 100,000

If:

  • Only two vehicles are involved in the accident, out of which at least one has active CMTPL policy
  • Damage, as a result of the accident, was caused only to those vehicles
  • The person causing the damage accepts that he/she is the only one guilty in the accident, and there is a mutual agreement on this
  • The injured does not require more than AMD 100,000 from the guilty side as a damage compensation

then, it is necessary to:

1. Immediately inform SIL INSURANCE Company by the 24/7 telephone number (+37410) 56-88-27 and follow the instructions of the Company’s employees.

2. Take at least 3 pictures of the vehicles involved in the accident, by any means, including any phone.Moreover, the photography (video) shall be performed the way that the photos (video) at least reflect the post-accident mutual positions of the two vehicles and the total damages of each vehicle as a result of an accident.

3. Fill out and sign the Agreed Statement(by the drivers involved in the accident).

4.Free the roadway, in case if the post-accident positions of the vehiclesdisturb the general traffic.

The injured shall provide the following to the insurance company within 5 working days after the occurrence of the accident:

  • Signed Agreed Statement
  • Application to get compensation
  • Soft versions of made photographs or video
  • Provide the Company with an opportunity to examine the damaged vehicle

 

In case of standard claims procedure, it is necessary to:

  1. Immediately inform SIL INSURANCE Company by the 24/7 telephone number (+37410) 56-88-27 and follow the instructions of the Company’s employees.
  2. Immediately inform the respective legal bodies about the accident, especially:
  • Road Traffic Police Department (1-77, (010) 52-27-63)
  • Emergency / Ambulance (1-03), in case of bodily injuries

      3. Not relocate the vehicle or objects related to the accident, not leave the accident site until the arrival of the employees of a respective authorized body (bodies) and our company’s representative.

      4. Take reasonable and necessary measures to prevent or minimize the damages.

      5. Not take any responsibility or make any offer, promise or payment without the company’s agreement.

      6. Pass a sobriety test, if necessary.

      7. Not perform repair works of the damages without the company’s agreement.

      8. Inform Our company in a written form by submitting a claim form not later, than within 2 working days after the occurrence of the event.

LAST UPDATE: 01.11.2019 10:03
Agent Call
In case of policy renewal, you may not attach your documents, unless there was a change, you shall rather fill out the number of your active policy.
*INSURANCE TYPE
INSURANCE_TYPE_NO_SELECTED
Name, Surname
Required field
DELIVERY ADDRESS
Required field
PHONE
Required field
OTHER NOTES
*DOWNLOAD DOCUMENTS
Registration certificate
Attach a fileCAN_NOT_EXCEED_4_MB
Tax ID
Attach a fileCAN_NOT_EXCEED_4_MB
Car tech. passport
ATTACHED FILE
Attach a fileCAN_NOT_EXCEED_4_MB
Required field
*INSURANCE TYPE
Name, Surname
Required field
DELIVERY ADDRESS
Required field
PHONE
Required field
The previous contract or car numbers
Required field
OTHER NOTES
*DOWNLOAD DOCUMENTS
Registration certificate
Attach a fileCAN_NOT_EXCEED_4_MB
Tax ID
Attach a fileCAN_NOT_EXCEED_4_MB
Car tech. passport
ATTACHED FILE
Attach a fileCAN_NOT_EXCEED_4_MB
Required field
Calculator

In case of inquiries regarding the CMTPL calculator  please call us at (+37460) 54-00-00, or email at info@silinsurance.am, or visit the Company’s office at 3 and 5 Aram St., Yerevan, RA.

You can get information on your current bonus-malus class online through CMTPL online surveys section located on Bureau’s website.

Vehicle type
Purpose of the vehicle
Engine power
Bonus-Malus
TERM AND PAYMENTS
CONTRACT DURATION
Required field
INSURANCE PRICE