Yerevan/Mediamax/. As factors of risks while defining the cost of CIVOCL (Compulsory Insurance of Vehicle Owner’s Civil Liability) agreements, they have chosen the type of transport means, the purpose of operation, age and work experience of the driver and the capacity of the car’s engine.

Mediamax reports that Deputy Chairman of CB Vache Gabrielyan said this in Yerevan today while presenting the tariffs for concluding annual CIVOCL agreements, approved by the Central Bank (CB) of Armenia.

He noted that while calculating insurance payments, they made a decision not to take into account the main place of the transport means operation, intensiveness of operation and the driver’s health state. Vache Gabrielyan did not rule out that in future they will elaborate schemes, which will take into account the mentioned criteria.

Basic tariff for a passenger car of private use with the engine capacity of up to 80 horsepower, the driver of which is over 23 and has a driver’s work experience of over 3 years, is established at the volume of 25 thousand AMD.

If the engine capacity of the passenger car makes 81-140 horsepower and 141-230 horsepower, the cost of annual agreements will make 32 000 and 41 000 AMD respectively (if the driver has work experience of over 3 years). For experienced drivers of superpower passenger cars (over 231 horsepower), the cost of CIVOCL policy will make 46 000 AMD.  

The cost of liability insurance, based on operation of public transport means (trolleybuses and buses), ranges from 36 000 to 58 000 AMD, of trucks – from 37 000 to 59 000 AMD, of company cars - from 26 000 to 76 000, taxi (including fixed-run ones) – from 37 000 to 106 000 AMD.

Vache Gabrielyan noted that in order to avoid confusion among the owners of transport means in choosing the insurance company, the regulators have made a decision to oblige insurers to offer analogous packages of services. The companies may compete only in establishment of tariffs: the minimum level for purchase of annual insurance policies on CIVOCL makes 19 thousand AMD, and the maximum – 110 thousand AMD.

Director of Armenian Motor Insurers’ Bureau Vahan Avetisyan informed that from the beginning of next week, the full tariff list of CIVOCL agreements will be published at the Bureau’s website (www.paap.am). The sale of policies will be launched in Armenia on October 18.