Around 60% of car owners have already purchased policies of mandatory vehicle insurance in Armenia, the Bureau of Motor Vehicle Insurers of Armenia told PanARMENIAN.Net.

Starting from January 10, drivers of uninsured cars will be fined at the amount of AMD 5,000 per 10 days, while if a car is stopped by a representative of the traffic police, its driver will be fined by AMD 50,000.

The RA police reported that the results of fines applied towards drivers of uninsured cars over the first 10 days of 2011 will be summarized on January 12.

On May 18, 2010, the Armenian National Assembly approved the law on compulsory vehicle insurance, which envisages payment of decent compensation to people who suffered in car accidents. The law came into force from January 1, 2011.