MTPL insurance is essential financial protection for car owners in the event of an accident, damage to third parties or property, as well as other unforeseen events. Various types of insurance and policies are available in Latvia, which provide different levels of protection according to customer needs and requirements.
Car insurance and types
The first and mandatory type of insurance is compulsory civil motor insurance (MTPL), which is a legal requirement for every vehicle to be allowed to participate in traffic. MTPL ensures that the damage caused by the car driver to third parties or their property will be covered. The MTPL policy does not protect the insured's own vehicle or personal injuries sustained in a traffic accident.
In addition to MTPL, drivers have access to a voluntary type of CASCO insurance that provides more extensive protection. CASCO covers damages caused to the vehicle itself, including in an accident, in case of theft, as well as as a result of natural forces such as storms or floods. In addition, CASCO can offer additional coverages, such as legal assistance, technical assistance on the road or replacement transport services.
When choosing a car insurance service, it is important to check what exactly is included in the policy, as well as to understand the differences between "full" and "partial" CASCO. "Full" CASCO insurance usually covers a wider range of risks and fewer restrictions, while "partial" CASCO can be cheaper, offering cover only against specifically defined risks, such as theft or fire.
Price is one factor to consider when choosing car insurance policies. Insurance premiums can vary significantly depending on many factors, including car make and model, car age, driving length and experience, and previous insurance history. Sometimes making security improvements, such as installing alarms or tracking devices, can lower your insurance fee.
To ensure that the insurance policy is as effective and appropriate as possible, it is recommended to consult the OnGo.lv support, which can provide detailed information about various insurance options, recommend the best solution, and help you understand finer nuances related to the contract conditions and the process of receiving compensation.
In addition, it is important to regularly renew the insurance policy and evaluate whether the existing protection still meets current needs. Effective Car insurance is not only a matter of legality but also a matter of financial security, in which every driver should invest due diligence and carefully consider their options.
