Insurance Branches
Car Insurance
Car insurance is mandatory due to civil liability, meaning the personal and asset damages the person in question caused to third parties. Today the required coverage for injuries is 750.000 € and for asset damages is 750.000 €. According to the new European Union directive the insurance capital will be readjusted soon.
In addition to the mandatory coverage, there is additional optional coverage which should always correspond to the current value of the vehicle.
These are:
- Fire
- Terrorist acts
- Malicious damage
- Natural damage
- Partial or whole theft
- Glass panes fractures
- Damages due to an uninsured vehicle
- Civil liability
- Driver accident
- Legal protection
- Comprehensive insurance
- Road Assistance
Note that if you are planning to get a loan to purchase a vehicle, your financial instituted will require you to insure your vehicle, however be aware that you are entitled to choose your insurance broker for this contract and the broker does not have to be affiliated with your financial institute. Even if you have insurance through financial institute, you are entitled to change your insurance broker during renewal of the contract.
