“Dă sens banilor” Financial Education Campaign: Car Insurance
Automatically translated summary. The full text is available in Romanian.
As part of its “Dă sens banilor” financial education campaign, this note explains car insurance in the Republic of Moldova. It describes why vehicle owners must hold a policy, how the main policy types differ, and what drivers should do after an accident.
Every vehicle owner must buy a third-party liability policy covering material damage and bodily injury. Three main policies exist. RCA is compulsory and valid in the Republic of Moldova. Green Card (Carte Verde) is equivalent to RCA and required for international traffic. CASCO is optional, covers damage to one's own vehicle at home and abroad, including from hail or theft, and is bought in addition to RCA or Green Card.
After an accident, drivers may use the amicable procedure without police if damage is up to MDL 10,000, both drivers hold RCA and the culprit admits fault. Otherwise the police must be called. If the culprit is uninsured or unidentified, the Road Victims Protection Fund pays compensation; claims go to the National Bureau of Motor Insurers (BNAA). The note was funded by the British Embassy in Chișinău through the Good Governance Fund.
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