Insurance – is your own business

Insurance – is your own business

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Earlier welooked into the requirements for compulsory civil liability insurance for drivers in Georgia, and found out that requirements are applicable only for cars with foreign license plates.

Insuring your vehicle from theft, intended or accidental damage or getting driver’s liability insurance is voluntary in Georgia.

Leading insurance companies in Georgia (including Irao, JPI, PSP) offer several types of insurance:

  1. Natural disaster insurance
  2. Third party liability insurance
  3. Full coverage (so-called CASCO – a widely used abbreviation, which in Russian stands for – comprehensive car insurance besides liability) in case of damage or theft.

There are two options for full coverage liability (let’s use CASCO for convenience) – full and partial coverage. Partial CASCO covers only covers damage to the insured car as a result of a traffic accident. Full CASCO will cover full or partial damage to the insured car in the following cases:

  • Traffic accident;
  • Theft, robbery or attempt on them;
  • Fires, explosions;
  • Illegal actions of third parties, vandalism, the fall of things on the car;
  • Natural disasters – floods, snowfalls, landslide, storm, mudflow.

For an additional charge one may add the following:

  • Compensation for damage caused by an earthquake or hail;
  • Auto liability insurance – to cover costs of damage of other vehicle in case of an accident;
  • Accident insurance for driver and passengers

Getting insurance is very easy. You need to provide ID (or passport), a driver’s license and a vehicle registration certificate, and of course the car itself for inspection.

The standard term for voluntary auto insurance in Georgia is one year. But if you plan to stay for a shorter period, insurance companies may provide insurance for 3 months.

There are no differences in tariffs for voluntary insurance for cars registered in Georgia or overseas, but the insurance premium payment procedure may differ – short-term insurance for cars with foreign license plate is usually paid at once, while the standard annual policy has monthly installments.

Insurance contracts, as well as other documentation, are provided in Georgian and, as a rule, in English. The text of the contract in Russian is rather an exception. However, all insurance companies have managers who can freely speak to you and give all the necessary explanations.

For most of our customers, regardless of citizenship and vehicle registration, car insurance in Georgia although is not a legal obligation but an intuitively useful thing to have.

Take care behind the wheel and follow our next article, where we will speak about step-by-step guidelines on what to do if something went wrong (especially if you are a foreigner in Georgia)…