YEREVAN, November 4. / ARKA /. Samvel Aghakhanyan, the head of the legal unit of the Armenian Car Insurers Bureau, has urged today local motorists to be vigilant when concluding contracts for mandatory insurance of their vehicles and if they have doubts regarding insurance agents to contact directly insurance agencies.
He also said motorists should be especially attentive when filling the field “purpose of use” in the contracts, because if a car owner uses it as a taxi, he will have problems in the event of an accident.
According to the Bureau, as of September 30, 2014 there were 447,910 insured vehicles in the country, up 1,589 from the previous month.
Aghakhanyan said insurance term is calculated by minutes and if there is one minute contract expiration the insurance company will have no obligation.
All seven Armenia-based insurance companies paid a total of 7.184 billion drams in 37,111 car insurance compensation claims in the first nine months of this year, a decrease of 5.2% compared to the first nine months of 2013.
The amount of insurance premiums in January-September amounted to 13.4 billion drams, having increased by 8.9% compared with the same period last year, according to the Car Insurers Bureau. ($ 1 – 412.25 drams). -0-
