In Ukraine, the price of a “green card” for motorists has unexpectedly increased again: MTIBU named the reason

In Ukraine, the “Green Card” for motorists has again become more expensive. Starting from March 15, 2024, the Motor (Transport) Insurance Bureau (MTIBU) unexpectedly increases the amount of single insurance premiums under Green Card international insurance agreements. Information on the new amounts of contributions was published in the Appendix to the letter of MTIBU dated 03/11/2024.

Representatives of the bureau claim that this is necessary to provide more reliable protection for policyholders in the event of an accident abroad.

The new tariffs were published on the official website of the bureau and caused a significant response among drivers.

For example, for passenger cars with a passenger capacity of up to 9 people, including the driver, and for cars with a total weight of up to 3500 kg, the cost of insurance for different periods is as follows:
• for 15 days - 1120 UAH (compared to the previous 1002 UAH),
• for 1 month - 1783 UAH (compared to the previous 1595 UAH),
• for 3 months - 4812 UAH (compared to the previous 3789 UAH),
• for 1 year - 12,446 UAH (compared to the previous 8,769 UAH).

Vehicle insurance is important for both new and experienced drivers.

The main reasons for revising the cost of MTIBU insurance are:
• increase in the average amount of insurance payments,
• an increase in the number of claims for insured events that occurred with the participation of Ukrainian drivers abroad,
• change in the structure of the insurance portfolio, where the share of passenger vehicles has increased.

The cost of international Green Card insurance transactions is regulated by law in euros and is the same for all insurance companies in Ukraine.

This means that these tariff changes apply to all vehicle owners in the country.

Note that the International Motor Insurance Certificate, also known as the Green Card, is an international insurance certificate that is accepted without any obstacles or costs by the authorities of all 50 countries of the international Green Card system. The Green Card insurance certificate is issued in Ukraine by insurance companies - full members of MTIBU under the authority of MTIBU.

The Green Card insurance certificate compensates for damage caused by the driver of the secured vehicle to third parties in the member countries of the international Green Card system specified in such a certificate.

As FACTS wrote, MTSBU recently warned Ukrainian motorists about a scam involving “green cards” for traveling abroad. And people’s deputies want to update the law on “automobile citizenship.”