MOTOR THIRD PARTY LIABILITY

Subject of the insurance:

Motor third-party liability insurance of the insured natural and legal persons for the pecuniary and non-pecuniary damage caused by them, as a result to the usage and/or ownership of MV.

The General conditions of this insurance are regulated by the Insurance code / Chapter VIII, XXIII and XXIV/ and regulation 24, dated 08.03.2006, about the mandatory insurance and by Chapter 47 of the Insurance code and methods for settlement of claims, related to damages, caused to MV.

Territorial validity.

• Republic of Bulgaria and country members of the “Green Card” system.

Covered risks:

The MTPL insurance covers the liability of the insured person in relation to damages, caused to third parties, as a result of owning or usage of MV.

• Damages, caused to foreign property.
• Pecuniary and non-pecuniary damages as a result of bodily injury or death.
• Lost profits which are the direct immediate result of the injury.

Excluded risks: The insurer is NOT paying indemnity for:

• Damages, caused to the guilty MV driver;
• Damages, caused to MV, driven by the Insured person as well as damages, caused to the property, transported by that MV.
• Damages caused by the MV usage in an act of terrorism or war.
• Damages, caused by the usage of the MV for participation in racings.

Insurance sum. According to the Insurance Code, the minimum insurance amount for which the mandatory ‘Civil Liability’ of motor vehicle owners insurance is concluded is:

1. For non-pecuniary and property damages as a result of bodily injury or death – EUR 6,450,000 per event, regardless of the number of injured parties;
2. For damages to property (items) – EUR 1,300,000 per event, regardless of the number of injured parties.

Insurance premium: as per the actual and enforced tariff of the insurer.

The discounts that can be applied are for:

• territory of driving;
• age of the driver;
• driving experience of the driver;
• single payment;
• age of the MV;
• valid Casco policy.

Rising:

• age of the driver;
• driving experience of the driver;
• culpably inflicted transport accidents during the last 3 years;
• rented MV;
• MVs used for taxi services
• MVs used for the transportation of dangerous goods.

Duration of the insurance – 1 year.

The conclusion of a policy for a shorter period is allowed only in the following cases:

• For MVs with temporary or transit registration as per the Bulgarian legislation in force;
• Border insurance;
• For the insurance of companies, doing import and sale of MVs.
• To slow moving MVs and self-propelled machinery.