Motor Insurance

hird-party vehicle insurance is mandatory for all vehicles in Hungary. No exemption is possible by money deposit. The premium covers all damage up to HUF 500M per accident without deductible. The coverage is extended in case of personal injuries. Vehicle insurance policies from all EU-countries and some non-EU countries are valid in Hungary based on bilateral or multilateral agreements. Visitors with vehicle insurance not covered by such agreements are required to buy a monthly, renewable policy at the border. Those injured or suffering property damage/loss due to uninsured drivers can claim against the Motor Insurance Bureau of Ireland's uninsured drivers fund, as can those injured (but not those suffering damage or loss) from hit and run offenses. Make sure that you get the motor trade insurance policy number and the name of the person from the insurance company that you spoke to. Usually a cover note will insure you for a short period of time only. This can be anything from 10-30 days depending on the insurance company. It's enough time for you to receive the insurance policy in the mail and make a decision to accept it or not. If you decide to accept the insurance you will need to pay the premium by the stated date. If you don't pay the premium the insurance cover will expire.