CMTPL And MOD Insurance: What Is The Difference?

Currently there are two main types of insurance: CMTPL and MOD Insurance. Their main difference is that the CMTPL is an insurance of your responsibility and is an obligatory type of documents which are necessary for you “to drive the vehicle”. Everybody knows that cars on roads of our cities are very expensive. Their quantity increases very year. And of course the cost of treatment of the victim in road accident may exceed your earnings. Therefore to become a responsible person for the road accident is not just immoral point but sometimes it is very expensive.

CMTPL insurance allows shifting of financial responsibility for the property damage caused by you or to health of the person to the insurance company.

The cost of such policy depends on the driving region and availability of records in driver certificate about different emergencies.. If you have a long-term experience of driving and didn’t get to similar situations the discount will be provided to you.

MOD Insurance is directly an insurance of your car. It will allow you blocking damage inflicted your car, its stealing or its annihilation fact. However this type of the policy doesn’t extend on reimbursement on “human health harm” of victims in different road accidents.

It is very flexible and convenient type of insurance of your transport. Sometimes it can be used and for money saving. For example, having insured the car from damage at night you save on parking cost. In other, words you may put the car near the house, and after its damage or stealing the insurance company will pay damages.

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