Armeec

territorial_scope

Coverage is valid on: the territory of the Republic of Bulgaria under Bulgarian law; EU Member States under their respective laws; third countries where damage was caused to persons from a Member State travelling between two Member States and no national insurance bureau is responsible for that territory (liability covered under the law of the Member State where the guilty driver's vehicle is normally based); third countries whose national bureau of insurers is a party to the multilateral agreement; and third countries whose national bureau of insurers is a member of the Green Card system (including Norway, Iceland, Liechtenstein, Switzerland, Serbia, Albania, Bosnia and Herzegovina, North Macedonia, Montenegro, Turkey, Russia, Moldova, Ukraine, Belarus, Morocco, Tunisia, Israel and Iran).

green_card_rules

Pursuant to the Bulgarian Insurance Code effective 01.01.2016, the Green Card international certificate is issued together with each MTPL policy at no additional fee or other payment. The certificate serves as international proof of cover in all Green Card member states and EU/EEA countries.

driver_restrictions

The insurance covers the owner, user and holder of the motor vehicle for which a valid contract exists, as well as any person who actually drives or uses the vehicle on a legal basis. No express written authorization is required from the named insured for the driver to be covered. The insured must notify the insurer in writing within 7 days of any change in ownership and must report any material change in the use of the vehicle (e.g. rental, leasing, use as taxi).

claim_notification_deadline

In the event of an insured incident, the insured must notify the insurer within 7 working days of becoming aware of the occurrence. The insured must immediately notify the competent traffic control authorities where required by law, must not leave the accident scene until the competent authorities arrive (except where emergency medical care is necessary), and must not consume alcohol or narcotic substances until authorities arrive. All documents proving the occurrence of the insured event must be provided to the insurer.

bonus_malus_rules

Bulgaria does not yet have a fully implemented mandatory statutory bonus-malus system for MTPL at the policy level. The Bulgarian Financial Supervision Commission has been working on a draft ordinance for a bonus-malus system, but as of the policy documents available it has not been formally enacted into binding regulation. Individual insurers may apply their own merit-rating adjustments to premiums. The premium is influenced by vehicle type, engine capacity, age and driving experience of the owner/usual driver, registration address, and claims history where applicable.

Mandatory Minimum Coverage Limits

For bodily injury or death: BGN 10,420,000 per event; For property damage: BGN 2,100,000 per event regardless of number of damaged persons

Territorial Coverage Scope

Coverage extends to Bulgaria, EU Member States, third countries whose national bureaus are parties to multilateral agreement, and Green Card member states

Policy Validity Period

Standard MTPL validity period is one year. Shorter periods minimum 30 days allowed only for temporary or transit registered vehicles

Coverage Commencement

Insurance coverage begins after full payment of premium or first installment if deferred payment is agreed

Premium Payment Options

Premium can be paid as single lump sum or in installments over the policy period

Premium Payment Interruption Condition

Coverage is terminated if premium installment payment is delayed more than 15 days beyond due date