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Third Party Liability Insurance May Become Mandatory For Car Owners

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Natia Taktakishvili
08.02.23 19:00
305
Third party liability insurance may become mandatory for car owners. The Parliament will discuss the relevant legislative amendments in the spring session.

According to the government's short-term plan, the problem of dealing with high costs caused by traffic accidents requires a systematic solution.

"In order to create this effective mechanism of social protection, each vehicle owner is obliged to purchase a compulsory insurance policy and pay an insurance premium. The bill stipulates insurance premiums according to vehicle categories and engine capacity. The draft law establishes insurance limits during the year for damage caused to the life and health of a third person, as well as for damage caused to property.

Under this system, a person injured in a traffic accident is guaranteed adequate compensation within the limits set by law, even when the accident is caused by an uninsured and/or unregistered motor vehicle," the government's action plan states.

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