According to Lauri POTSEPA, Member of the Management Board of LKF, the Fund sends about 10,000 traffic insurance reminders on contract renewal every month. Every year, after the expiration of MTPL contracts and before implementation of automatic MTPL insurance, nearly 600 MTPL insurance events occur, total damage amount of which is EUR 1.3 million.
As T?nis TOHVER, Head of the vehicle insurance department at Salva Kindlustus, noted - the average loss amount from traffic accidents is EUR 1,800. "If an accident is caused by a vehicle without insurance, such damage shall be compensated by the insurer of the last contract, but a refund request shall be submitted then to a person who caused the accident. If the contract was not renewed by mistake, then this will come as an unpleasant surprise", said TOHVER.
He added that the safest way is to choose an automatically renewable contract. "In this case, an insurance company sends a new policy and invoice to the customer in good time before the end of the existing policy, thus ensuring uninterrupted insurance coverage", TOHVER emphasized.