Motor Third Party Liability insurance (MTPL) is a type of insurance required by every driver in Latvia to compensate for damage caused to third parties in the event of a traffic accident. However, the offers of different insurance companies may differ significantly both in price and in the services provided. Therefore, it is important to know how to find the cheapest and at the same time high-quality compulsory motor liability insurance policy.
Before you begin your search, understand the basics of MTPL insurance. An insurance policy must be issued for each owner or user of a vehicle using the vehicle in road traffic. The cost of MTPL insurance is calculated individually for each client, taking into account various factors, such as the make and model of the vehicle, driver experience, age and other risk factors.
To find low-cost MTPL you can do the following:
1. Compare prices online: use the OnGo.lv car insurance price comparison platform, which allows you to enter details about your vehicle, after which prices from different insurers are offered - MTPL calculator. This makes it quick and easy to compare prices without leaving home.
2. Don't chase the lowest price: The cheapest offer is not always the best. Check what a particular insurance policy offers and whether it suits your needs. Sometimes it's worth paying a little more for better customer service or more risk coverage.
3. Check for discounts and promotions. Some insurance companies offer special offers for new customers or discounts for existing customers who choose to renew their insurance. You can get cheap MTPL insurance, for example, if the driver has not been responsible for road accidents for a long time.
4. Talk to OnGo.lv support. Sometimes speaking with a professional insurance agent can help you learn the nuances of different insurance products, which can help you find the best deal.
5. Consider a payment schedule. Sometimes it is more economical to pay for insurance in one payment rather than breaking the amount into monthly payments, which may cost more overall.
6. Beware of “hidden” costs: Before signing an insurance contract, carefully read all the terms and conditions to avoid additional costs that may arise in the future.
Summarizing, find low-cost MTPL requires some attention and thorough research to choose the offer that is right for you. Regularly comparing the options available in the insurance market can help you save money in the long run. It is also important to remember that MTPL insurance is mandatory; it is not only a legal requirement, but also your responsibility to other road users.
