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Automobile insurance policy coverage plus laws in Greece is similar to those about the United States. Greece has coverage limits that is are mandatory on one automobile insurance policy plus requires insurance policy for motorists that is are from additional European countries. Greece too has requirements that are required for automobile insurance policy for expatriates and for cars that get been rented. Vehicle insurance to 3rd party liability remains regulated by the Greek Car Insurers' Bureau.
Mandatory Liability Coverage
Persons that is stay in Greece plus include a motor vehicle or trailer are required to maintain compulsory or mandatory coverage. Mandatory coverage from Greece consists about bodily injury or liability plus property harm. The quantity of compulsory responsibility coverage with automobile insurance policy is 500,000 European Currency Units or ECUs. This coverage applies to the insured individual and some other person driving the vehicle along with the insured's permission. Passengers within the vehicle are considered third-parties.
Exemptions
Greece has exceptions to mandatory automobile liability and property damage coverage that applies to government entities. This includes vehicles that belong to the State and foreign state vehicles from which here are reciprocity agreements. International groups, such as the Red Cross, are furthermore exempted out of imperative automobile coverage. While a vehicle has been exempted away from vehicle coverage, a certifying record will be provided with the State.
Green Card
Green Card Program. auto insurance.
European countries, including Greece, developed the Green Card System or Worldwide Drive Vehicle Certificate which started on January 1, 1953. This is a form of automobile insurance policy where one policy is purchased from the home country that presents coverage in other European countries. The object behind the Green Card Program was to provide individuals who were a victim regarding 3rd party liability compensation when injury was caused by a motorist out of another country.
Car Rentals
Third party responsibility insurance is required for all car rentals inside Greece. This insurance covers any person or real estate that is are outside regarding the rental vehicle. This includes damage or injury to another vehicle or driver. The sum about third party liability coverage as of 2009 is upwards to $85,000 (U.S. Cash) when there is injury or property damage to another individual.
