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Compulsory contractual insurance for damage caused by the operation of a motor vehicle to a motor vehicle

(motor insurance, compulsory insurance) is the financial protection of the holder or the owner of the motor or trailer vehicle in the event of an injured party's claim for compensation. Insurance benefits are always paid directly to the injured party, never to the insured. The motor insurance of a vehicle is governed by the Act on Compulsory Insurance No. 381/2001 Coll., as amended. Every vehicle or trailer registered with a registration number and some special vehicles without a registration number must have compulsory contractual insurance concluded. The obligation to conclude compulsory contractual insurance occurs on the date of its registration in the vehicle register. The immediate issuance of a white and green card is mandatory under compulsory contractual insurance. The white card is a confirmation of the validity of the insurance on the territory of the Slovak republic, the green card is a confirmation of the validity of the compulsory contractual insurance when travelling abroad.

The Act on Compulsory Insurance sets minimum limits on insurance benefits to be agreed in the insurance contract from 1 January 2012:

  • € 5,000,000 for damage to health or death at one insured event, regardless of the number of injured parties
  • € 1,000,000 in the case of material damage, costs of legal representation and the loss of profit