Car insurance policies in Ukraine have seen a significant price increase.
Car insurance policies have significantly increased in Ukraine
Following the implementation of the new automotive insurance law on January 1, 2025, prices for "auto liability" insurance in Ukraine have surged by 70-100%.
Experts attribute the sharp rise in insurance costs to the legal provision that raises insurance payouts to European standards. Now, compensation for repairs is up to 250,000 hryvnias (previously up to 160,000), and compensation for medical expenses for victims of traffic accidents is up to 500,000 hryvnias (previously up to 320,000).
It is also noted that insurers have begun to segment the market based on insurance risks. As a result, price increases have not been uniform across Ukraine. The cost of a policy is now influenced by factors such as the technical specifications of the vehicle and the conditions of its use. The region and terrain where the vehicle is used, driving experience, and the duration of the insurance policy are also significant factors.
For passenger cars with an engine capacity of up to 1600 cc, the policy currently costs between 2,200 to 6,000 hryvnias. Insuring a motorcycle can start from 500 hryvnias, while a bus policy in Kyiv can reach up to 50,000 hryvnias.