Motor Insurance

Insurance is not provided to drivers with less than 6 months of driving experience.

The following deductibles will apply in case of an accident:

• 1% of the total sum insured, with a minimum amount of AMD 50,000 
• 2% of the total sum insured, with a minimum amount of AMD 100,000 if the driver of the insured vehicle has 2 to 3 years of driving experience 
• 3% of the total sum insured, with a minimum amount of AMD 150,000 if the driver of the insured vehicle has 6 months to 2 years of driving experience 
   

The following deductibles will apply in case of theft:

• 5% of the total sum insured when an anti-robbery system is available on the car
• 10% of the total sum insured when no anti-robbery system is available

• the policy fee is 2.5% of the sum insured
  
• you’ll need to insure the full market value of your car
• Motor Insurance is provided only for vehicles purchased with a car loan from by HSBC Bank Armenia CJSC
  
• INGO Armenia ICJSC representatives will contact you within 2 working days after signing the insurance policy to arrange an examination of your car. The insurance policy will only enter into force after the examination has been conducted
  
• the mentioned tariffs are applicable to insurance policies arranged through HSBC Bank Armenia, which acts as an agent of the INGO Armenia Insurance company. Please note that arranging motor insurance via HSBC is optional, and you can arrange an insurance policy with any company approved by HSBC
  

The following documents are required for the purchase of motor insurance:

• a copy of the insured person's passport 
• a copy of the owner's passport (if different from the insured)
• all passports and driving licenses of authorised drivers 
• a copy of the car's technical passport 
• a copy of the valuation act, invoice or purchase agreement if available, otherwise the market value of the car will be applied