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Motor insurance package includes the following risks:
Physical damage caused to the car including damage caused as a result of car accident or other external impact, fire, illegal actions of third parties including theft, robbery.
How much does Motor Insurance cost?
Annual insurance rate is 2.5% of the sum insured.
Can I arrange partial Motor insurance?
Motor insurance is provided only for cars purchased with a car loan provided by HSBC Bank Armenia CJSC, whereby insurance for the full amount of the car market value must be purchased.
What are the deductible amounts for Motor Insurance?
1% of sum insured, minimum AMD 50,000
2% of the sum insured, but not less than AMD 100,000 in case if the driver of the insured vehicle during the accident has 2 or 3 years of driving experience , and 3% of the sum insured, but not less than AMD 150,000 in case if the driver has 6 months to 2 years of driving experience
Insurance is not provided to drivers with less than six months driving experience
Deductible in case of theft comprises 5% of the sum insured in case an anti-robbery system is available on the car, and 10% if no such system is available.
Is examination of the car required for Motor insurance?
Yes, car examination is required for purchasing Motor insurance. INGO ARMENIA icjsc representatives will contact you within 2 working days after signing of the insurance policy to arrange the examination of your car. The insurance policy will enter into force only after the examination is conducted.
