Changes to Mandatory Insurance Regulations: 400,000 AMD Instead of 200,000 AMD

The Bureau of Auto Insurers of Armenia has made changes to its regulations.

“As you know, traffic jams frequently occur in Yerevan as a result of road traffic accidents, causing inconveniences for you. To alleviate this issue, the Bureau of Auto Insurers of Armenia has made the following changes to its regulations:

For cases where the insurance accident report is filled out through a mobile application, the maximum compensation limit has been doubled from 200,000 AMD to 400,000 AMD.

For cases that differ from those regulated by the agreed report, insurance companies are now required to present their obligations to drivers in an accessible manner during telephone conversations at the scene of the accident.

We hope that these changes will reduce traffic jams, thereby increasing overall traffic efficiency and improving the flow of traffic. The aforementioned changes will come into effect on September 18 of this year,” the statement reads.

Auroranews contacted lawyer Artak Khachatryan for more detailed information. He stated that this pertains to minor accidents (scratches, mirror damage, etc.). To avoid calling the police, if both parties reach a mutual agreement, they can take pictures of the accident using the app and send them to the insurance company, which allows the vehicles to be removed from the scene.

“If an accident is recorded and sent via this application, the maximum expected compensation was 200,000 AMD. Now, according to the statement, the maximum compensation limit has become up to 400,000 AMD. This means that, in the case of accidents where the damage is up to 400,000 AMD and both parties reach an agreement, they can take pictures of the accident, send them, and clear the road,” the lawyer noted in our conversation.