Kam i OCTA?
OCTA, or compulsory civil vehicle insurance, is a type of insurance that covers damages that a driver may cause to a third party or their property during a traffic accident. OCTA insurance is mandatory in Latvia and participating in road traffic without it is prohibited by law. It is required for all motorized vehicles participating in road traffic.
According to the law, the OCTA insurance policy indemnifies both personal injury and property damage. Compensation can be received by the driver or owner of the vehicle, a passenger (even if he was in the vehicle that caused the accident), as well as a pedestrian.
There are a variety of material losses covered by an OCTA policy, including:
- Medical expenses for injured persons;
- Income not received due to temporary incapacity;
- Compensation for loss of working capacity;
- Compensation for the death of the breadwinner, etc
Various non-material damages are also covered, including moral damage caused by:
- Due to physical injuries;
- In case of mutilation or disability;
- In the event of the death of a dependent or spouse.
Losses related to property:
- Vehicle damage;
- Destruction of the vehicle;
- Vehicle evacuation;
- Damage to road infrastructure or structures;
- Damage to the environment.
How to apply for OCTA insurancethis oneyeariyou?
If the car has been in a traffic accident, depending on the situation, the traffic police will have to be called or filled agreethe brush knewfrom you. The agreed statement is intended to make it easier to resolve the situation if:
- After the accident, the involved parties are able to agree on the circumstances of the accident and confirm the provided information with a signature;
- Two vehicles involved;
- There were no casualties or injuries;
- No damage has been caused to the property of a third party;
- None of the vehicles sustained roadworthy damage.
It is important to remember that the agreed statement can be drawn up only if all the above conditions are met. As long as one of the points is not fulfilled, the traffic police must be called.
When writing the agreed statement, you will need to describe in detail all the circumstances of the accident. The agreed statement consists of 15 chapters in total. After filling out the statement, the vehicle insurer evaluates the amount of compensable damages. In this case, the insurer will cover all damages caused to the third party.
The agreed statement can be made using a form or electronically in the LTAB OCTA application.
How tothese factors influenceuh OCTA policy price?
The price of an OCTA policy will vary for each vehicle owner. There are three main factors that affect the price of an OCTA policy – Bonus Malus class, insurance period and vehicle parameters. Let’s look at each of these factors in more detail.
Bonus Malus class and its effect on the policy price
Bonus Malus Class is a system used in insurance to classify drivers of different risks and apply an appropriate policy price. The Bonus Malus class applies to the owner/keeper of the vehicle. In total, there are 17 classes in this system:
- 1st to 5th grade. These are high-risk classes (Malus classes) that are assigned to drivers who are more likely to cause road accidents. Drivers in this class should expect higher OCTA policy costs.
- Grade 6 or beginning grade. It is awarded to drivers who purchase OCTA insurance for a vehicle for the first time. In this case, the price of the OCTA policy is neither increased nor decreased.
- Grades 7 to 17. These classes are called reduced risk classes (Bonus classes). They are awarded to those drivers whose vehicle is insured regularly (at least 275 days a year) and who do not cause accidents. OCTA policy prices will be much lower for drivers in this category.
It is important to remember that the Bonus Malus class is reviewed every year, so it can go up or down. It happens as follows: if one accident is caused during the reporting period, the class is reduced by 30%, if two accidents, then by 50%. On the other hand, if three accidents are caused, the Bonus Malus class is reduced by 80%. Finally, those drivers who have caused four or more traffic accidents during the year automatically enter the 1st class.
Insureana period
When buying an OCTA policy, the term you choose can affect its price. In general, an OCTA policy can be purchased for the following terms: 1, 3, 6, 9 or 12 months. If you buy a policy for a longer term, the price of the policy will be more favorable.
Transportltoola parameters
Finally, the price of an OCTA policy is also influenced by the parameters of the vehicle. One of the most important factors is the age of the car. Newer cars usually cost less for OCTA insurance because they are equipped with various technologies that reduce the risk of accidents. On the other hand, older vehicles have a much higher risk of causing a road traffic accident, so the OCTA costs will be higher for them. In addition to the age of the car, the price can also be affected by the make, model, mileage, place where the car is registered, and the purpose of use.
These are the main factors that can affect the price of an OCTA policy. If you want to be sure of specific costs, you can use one of the OCTA calculators available on the Internet. Most often, to receive an OCTA offer, you will need to enter the car registration number and technical passport number into the calculator.
OCTA worksirubber termsnsh — how to that pohrbaudit?
As we mentioned above, it is forbidden to drive on the road without a valid OCTA insurance. Therefore, it is important for every driver to keep track of the OCTA expiration date. It is very easy to check. Go to the website or mobile application of the Latvian Transport Insurers Bureau (LTAB). Car registration data (car registration number or chassis number) will be required for the inspection. This is a free service. When you check, you will be able to find out your OCTA policy number, expiration date, and other important information about OCTA insurance.
The other option is the electronic service of the Road Safety Directorate (CSDD), which can be done by e-csdd. Also in this case you will need car registration or chassis number. However, checking the validity of the policy at e-csdd.lv is a paid service for which you will have to pay one euro.
Kherein the skinright OCTA policy?
The OCTA policy can easily be purchased at the CSDD self-service terminal, where you can compare the prices of OCTA policies from all insurance companies, as well as print the policy after purchase. Self-service terminals are located in CSDD branches throughout the territory of Latvia.
With the above in mind, it is important to remember to regularly check the expiry date of your OCTA policy to avoid being penalized for driving without it. It will be more profitable to buy a policy for a longer term, for example 12 months. It will be most convenient to do this in the CSDD self-service terminal. It should be noted that the cost of the OCTA policy will depend not only on the specifics of the car, but also on the Bonus Malus class of the owner. We invite every driver to keep up to date with the policy in order to comply with the law and protect other road users in the event of an accident.
