From January 1, 2025, new rules for compulsory insurance for car owners will be introduced in Ukraine
Starting in the new year, all car owners in Ukraine are expected to undergo a significant update of the mandatory civil liability insurance system. Law No. 8300, which will enter into force on January 1, 2025, provides a series of changes affecting both the format of insurance policies and the amounts of payments, adapting the system to European standards.
One of the key changes is the transition to electronic OSCPV policies, which from now on will be issued exclusively in digital format and will be stored in a single database. This will allow car owners to avoid excessive paper bureaucracy and simplify the verification of policies, minimizing the possibility of fraud.
From the new year, the maximum insurance payments will increase significantly. In case of injury or death, compensation will increase to 500 thousand hryvnias, and compensation for material damage will amount to 250 thousand hryvnias. In the future, these amounts will increase to 1 million hryvnias for health and life and up to 2 million hryvnias for property damage, reaching a level close to European standards. This will provide significantly better financial protection for road users in the event of an accident.
The new rules will take into account the history of the driver’s behavior on the road: for car owners with numerous violations or traffic accidents, insurance premiums will increase. Such a system is designed to encourage drivers to follow the rules of the road, especially those who habitually neglect safety.
In case of loss of license by the insurance company, the Motor Transport Insurance Bureau of Ukraine will guarantee the continuation of insurance coverage for drivers. Also, the victims will now have the right to independently choose the form of compensation: send the car to a service station for repair or receive monetary compensation.
The National Bank of Ukraine notes that these reforms are aimed at improving the quality and safety of services, providing better protection to all road users, as well as bringing the Ukrainian road safety system closer to EU standards.
The new rules promise to improve the insurance experience for car owners, creating a safer and more transparent system with quality financial protection.
