Compulsory Motor Third Party Liability Insurance (CMTPL)

Reimbursement of damages incurred to third party as a result of motor accidents can cause unexpected expenses. By purchasing compulsory third party liability insurance you will ensure re-imbursement of damages caused to third party that would otherwise become a financial burden on your budget.

CMTPL insurance includes

Damage or loss incurred to third party as a result of motor accident including property damage and physical injury.

Damage caused to property includes

• Damage, destruction or loss of the third party’s vehicle
• Damage or loss of other property belonging to the third party located in the third party’s vehicle or any attachments to such vehicle
• Damage or loss of other property belonging to the third party

Physical damage includes

• Damage caused to the health of the third party
• Loss of income
• Death of third party

Benefits

• You can get the full package of financial and insurance services in the branches of HSBC Bank Armenia cjsc. Purchasing the insurance policies of one of the leaders of the Armenian insurance market – Cascade Insurance icjsc from our branches will save your time and efforts.

In case of an insurance accident the skilled professionals from Cascade Insurance icjsc will support you ensuring processing of your claim and reimbursement of damages caused to you.

Insurance coverage and tariffs

CMTPL tariffs are calculated based on the vehicle’s purpose of usage, age and driving experience of the driver and power of vehicle engine (for detailed tariffs please refer to Tabels 1, 2 and 3). The tariffs are set by the Bureau of Motor Insurers and are approved by the Central Bank of Armenia.

• Table 1
• Table 2
• Table 3
• CMPTL calculator

The following coverage is included into CMTPL insurance.

No deductible applies for CMTPL insurance.

The following documents are required for signing the insurance policy.

• Copy of the insured person’s passport, social security card and driver’s license
• Copies of passports, social security cards and driver’s licenses of the authorized drivers
• Copy of the vehicle’s technical passport
• If the insured person is not the owner of the vehicle, document certifying the insured person’s authority (power of attorney, leasing agreement, etc)

Examination of the vehicle is not required for CMTPL insurance.

Important note

HSBC Bank Armenia cjsc acts as an agent of Cascade Insurance icjsc and provides the insurance product on behalf and terms of Cascade Insurance icjsc. Insurance claims have to be submitted to Cascade Insurance icjsc. HSBC Bank Armenia cjsc does not bear any responsibility with respect to payment of insurance compensation.