Motor vehicle insurance

Motor vehicle insurance can be compulsory and volunatary.

Compulsory motor vehicle insurance

The motor third party liability insurance represents insurance against liability of owners or users of the motor vehicles for the damage caused to third parties or for damage to or destruction of things during a using of the motor vehicle.

In almost all countries, was introduced as a compulsory insurance.

According to provisions of Article 4 of Law on Compulsory Traffic Insurance the owners of means of transport, used for public transport, and the owners of other means of transport (motor vehicles, boats, aircrafts) , shall be required to sign a contract on compulsory insurance before the means of transport is used for transport. Continue reading Motor vehicle insurance