TRAFFIC INSURANCE
Mandatory Traffic Insurance is an insurance product that is mandatory for all motor vehicle owners by the state and that assures you for damages you may cause to other vehicles or third parties as a result of an accident.
Compulsory Motor Liability Insurance is a state-mandated insurance policy that provides coverage for material and bodily damages a vehicle owner may cause to third parties in the event of an accident. It only covers the damages of the other party and should not be confused with comprehensive (casco) insurance.
Compulsory Motor Liability Insurance is a mandatory policy for motor vehicle owners that provides coverage for material and bodily damages they may cause to third parties in an accident. It protects only the other party, not your own vehicle.
ChatGPT:
The vehicle is banned from traffic and towed to an impound lot.
A daily fee is charged for the duration the vehicle remains in the lot.
Towing and impound fees are the responsibility of the vehicle owner.
A late payment penalty of 5% is applied for each month of delay.
Even without an accident, the no-claim discount is lost.
Motor liability insurance covers the damages of the other party, while comprehensive (casco) insurance covers damages to your own vehicle.
Motor liability insurance is mandatory.
Comprehensive insurance is optional.
