Compulsory insurance
Voluntary insurance

Insurance for private individuals in Kazakhstan can be compulsory or voluntary. Compulsory insurance is established by law: if you own certain property or engage in certain activities, you must conclude a contract in any case. Voluntary insurance is chosen by the person — to protect a car, home, health, life or a trip against unexpected expenses.

Compulsory insurance for individuals

The main compulsory type for private individuals is MTPL, compulsory civil liability insurance of vehicle owners. A policy is needed by the owner of a car, motorcycle or other vehicle that must be registered. It covers harm to the life, health and property of other people caused through the driver's fault. The at-fault party's own car is not compensated under MTPL — that is what CASCO is for.

If an individual is registered as a sole proprietor and hires employees under employment contracts, the employer's obligations apply to him, including OSRNS — compulsory insurance of an employee against accidents in the performance of employment duties.

Compulsory social medical insurance (CSMI) exists separately. This is a state system, the contributions to which go to the Social Medical Insurance Fund; CSMI contracts are not arranged with insurance companies and do not replace voluntary medical programs.

What driving without an MTPL policy entails

The absence of a valid policy entails administrative liability. But most importantly, if there is an accident through your fault, you will have to compensate the victims' damage from your own funds, and such sums can be significant, especially where harm to health is caused.

Voluntary insurance for private individuals

Voluntary policies let you shift in advance to the insurer expenses that are hard to cover from the family budget. The main types are:

  • CASCO — protection of your own car against damage in a road accident, theft, damage by third parties and natural disasters. For more, see the motor insurance section.
  • Home and property insurance — an apartment, house, finishing, furniture and appliances against fire, flooding, theft and other risks. For more, see the home insurance section.
  • Civil liability of a private individual — for example, to neighbors if you accidentally flood their apartment.
  • Medical insurance for travel abroad — payment for treatment during a trip; for a number of countries such a policy is required when applying for a visa. For more, see the travel insurance section.
  • Accident insurance — a payment in the event of injury, disability or death as a result of an accident.
  • Life insurance — risk and savings programs to protect a family and build savings.
  • Voluntary medical insurance — access to private clinics and additional medical services.

How to choose insurance

  1. Decide what is most important for you to protect. For some it is a car, for others an apartment with a mortgage or the health of the family.
  2. Assess which expenses you could not cover yourself. It makes sense to insure primarily large risks, not small expenses.
  3. Compare the terms, not just the price. Two policies of the same cost can differ greatly in cover, limits and exclusions.
  4. Check the insurance company. The insurer must hold a valid ARDFM licence for the required class of insurance.

What to pay attention to in the contract

  • the list of insured risks and the exact wording of events;
  • the sum insured and the payment limits for individual types of damage;
  • the deductible — the part of the damage that you pay yourself;
  • exclusions: for example, driving while intoxicated, intentional acts, wear and tear of property;
  • the deadlines within which an insured event must be reported;
  • the method of determining damage and the form of payment — in cash or by repair.

What to do when an insured event occurs

First, take care of people's safety and call the necessary services: the police in the case of a road accident or theft, emergency services in the case of flooding, an ambulance in the case of injury. Then, within the period stated in the contract, report the event to the insurer, photograph the damage and keep the documents — certificates, reports, receipts. Do not start repairs until the insurer's representative has inspected, if the contract requires this.

Typical mistakes

  • choosing a policy on price alone without reading the terms;
  • giving inaccurate information about the object or drivers — this can become grounds for refusal;
  • missing the deadline for notifying an insured event;
  • forgetting to renew a policy, especially a compulsory one.

Frequently asked questions

Can I take out several voluntary policies at the same time?

Yes. For example, CASCO and home insurance protect different objects and do not overlap. When the same risk is insured with several companies, the total payment, as a rule, cannot exceed the actual damage.

Do I need a broker if I can buy a policy directly?

A broker helps to compare the offers of several insurers and to understand the terms, and when an insured event occurs, to advise on the procedure. If you would like to select a suitable policy, you can get a consultation.