What RCA Insurance Is: How It Helps Us and How Much It Costs
Automatically translated summary. The full text is available in Romanian.
This financial education note, produced by the National Bank of Moldova and Independent Think Tank “Expert-Grup”, explains compulsory motor third-party liability insurance (RCA) in the Republic of Moldova: why every vehicle owner needs it, what it covers, how its price is set and what to do after an accident.
RCA is mandatory for driving legally in Moldova; without it, owners face a fine of MDL 1,500 to 3,000 and must bear all accident costs. The policy lasts 12 months. Cover includes EUR 100,000 for property damage, EUR 100,000 per person and EUR 500,000 per case for bodily injury or death, and moral damages of up to EUR 5,000 per person and EUR 10,000 per case.
The National Bank of Moldova sets the premium, which must be identical across sellers. Under the Bonus-Malus system, accident-free drivers get discounts of 5% to 50%, while accidents raise the premium by 10% to 100%. Since September 2019, drivers can use an amicable accident report for minor damage of up to MDL 15,000 involving two insured vehicles, filing a claim within 2 working days. Victims of uninsured or unidentified vehicles can seek compensation from the Road Victims Protection Fund.
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