Balcia
Balcia is a motor casco insurance for the LV market with online purchase and 24/7 assistance.
Direct payment
Balcia pays repair costs directly to the repair shop chosen by the policyholder or by Balcia. In case of total loss, theft, or robbery, compensation is paid in the amount of the vehicle's market value or new value (as per policy). Cash payment is available but excludes taxes. For theft of built-in parts (excluding accessories), only direct repair cost reimbursement is provided.
Geographic scope
LV
Policyholder selects one of three territories: Latvia only; Europe (Latvia, Lithuania, Estonia, Albania, Austria, Andorra, Belgium, Bosnia and Herzegovina, Bulgaria, Czech Republic, Denmark, France, Greece, Croatia, Italy, Ireland, Iceland, United Kingdom, Liechtenstein, Luxembourg, Malta, Montenegro, Monaco, Netherlands, Norway, Poland, Portugal, Romania, Spain, Finland, Slovakia, Slovenia, Serbia, San Marino, Switzerland, Hungary, Germany, Vatican, North Macedonia, Sweden); or Europe and CIS countries (Armenia, Azerbaijan, Belarus, Georgia, Russia, Moldova, Ukraine — up to 50° E longitude).
Unique selling points
- AI-powered premium pricing using driving behaviour data means safer drivers pay less, delivering genuinely personalised CASCO costs.
- Free replacement vehicle included from day 1 after any covered insured event — including during repair, theft, or total loss — for up to 30 days per policy period.
- All-risks coverage with a broad open-perils structure: every event not explicitly excluded is covered, including hydroplaning, fuel mix-up, animal damage, and maintenance errors.
- Policyholder can cancel the policy at any time without penalties and receive a pro-rata refund of unused premium.
- 24/7 roadside assistance included as standard, covering towing, fuel delivery, spare key services, and hotel costs — for both standard and electric vehicles.
Coverage limits
Own Damage
Covered
Covers any sudden and unforeseen external event causing damage to the insured vehicle and its accessories, including collision, fire, natural perils, vandalism, and other causes not listed as exclusions. Compensation up to the insured sum (market value or new value as specified in the policy).
Total Loss (Bojāeja)
Covered
Covers total loss when the cost of repairs exceeds 70% of the vehicle's market value immediately before the insured event. Compensation is determined at market value or new value (new value applies only if mileage does not exceed 60,000 km, vehicle is no older than 2 years, and has had one owner since first registration).
Partial Loss / Damage
Covered
Covers partial damage to the insured vehicle from any sudden external cause not listed as an exclusion, including road traffic accidents, fire, natural perils, vandalism, falling objects, animals, hydroplaning, fuel mix-ups, and maintenance/repair damage. Repair costs are reimbursed to restore the vehicle to its pre-loss condition.
Theft and Robbery
Covered
Covers secret or open seizure of the insured object (vehicle and accessories), including cases involving violence or threat of violence. Compensation is at market value or new value (subject to conditions). Deductible is doubled (min. 20% of payout) for theft/robbery in CIS territory. All key sets specified in the policy must be produced after theft, otherwise claim may be denied.
Glass Breakage
Covered
Covers breakage of vehicle windows, roof glass, or panoramic glass when this is the sole damage resulting from the insured event. No deductible is applied for glass damage under the standard policy terms.
Natural Perils
Covered
Covers damage caused by direct impact of storms, floods, lightning, hail, and falling objects caused by the aforementioned natural perils. Included as a standard covered peril within the all-risks CASCO product.
Vandalism
Covered
Covers intentional damage or destruction of the insured vehicle by a third party. Defined as deliberate action by a physical person aimed at damaging or destroying the insured object.
24/7 Roadside Assistance (Diennakts autopalīdzība)
Covered
Round-the-clock roadside assistance included as standard. For vehicles up to 3.5t: vehicle jump-start, tyre pressure restoration or spare wheel fitting, fuel delivery (up to 10 litres reimbursed per policy period; for EVs, tow to nearest charging station), towing to chosen repair shop or nearest guarded parking (parking up to 5 days), replacement vehicle for up to 3 days during breakdown repair, hotel or onward transport for driver and passengers if vehicle cannot continue, spare key delivery or vehicle unlocking. For vehicles over 3.5t: rescue operations, towing to repair shop or guarded parking (up to 5 days), hotel or onward transport. Separate Terms and Conditions No. LV-18/04 valid from 15.09.2023. IPID indicates limit up to EUR 500.
Free Replacement Vehicle (Bezmaksas maiņas auto)
Optional
A free rental vehicle is provided from day 1 after reporting a covered insured event that renders the vehicle unusable (including during repair), or in case of theft or robbery. Provided for up to 30 calendar days per policy period. In case of total loss, theft, or robbery, provided until the claim is fully settled. If Balcia cannot supply a replacement vehicle, actual rental costs are reimbursed. If the replacement vehicle is insured under CASCO, the same deductible as in the main policy is applied. Listed as an optional/additional risk (Papildrisks) in the IPID.
Accident Insurance for Driver and Passengers
Optional
Optional add-on (Papildrisks) covering the driver and passengers against injury, permanent disability, and death resulting from a road traffic accident involving the insured vehicle. Covers: death (full insured sum, within 3 years of accident); permanent disability (25%–100% of insured sum depending on severity); trauma per injury table (Annex 1 to T&C LV-03/01-03); medical expenses within 30 months of accident; family wellbeing expenses. IPID states limit up to EUR 4,300. Governed by T&C LV-01/04-02 (for older policies) and integrated into T&C LV-03/01-03 (current).
Key conditions
driver_age_experience_limit
No specific minimum driver age or experience limit is stated in the T&C (LV-03/01-03). Coverage is denied if the vehicle is driven by a person without the appropriate driving licence category for that vehicle type.
repair_network_requirements
The policyholder may have the vehicle repaired at any repair shop of their choice. Balcia pays the compensation directly to the chosen repair shop in the amount of the repair estimate minus the deductible. However, if the policyholder chooses their own repair shop, the compensation cannot exceed 30% of the estimate prepared by Balcia's chosen repair partner.
territorial_scope
The policyholder selects one of three territorial coverage options at the time of purchase: (1) Latvia only; (2) Europe (as defined in T&C — includes most European countries); (3) Europe and CIS countries (Armenia, Azerbaijan, Belarus, Georgia, Russia, Moldova, Ukraine — up to 50° E longitude). The selected territory is stated in the policy.
anti_theft_requirements
After theft or loss of keys, if the vehicle locks were not replaced or the immobilizer was not recoded, and the vehicle was not kept in a guarded car park or locked garage, compensation may be reduced by up to 50% if causally linked to the loss. After vehicle theft, the policyholder must be able to produce all key sets and remote control sets specified in the policy; failure to do so entitles Balcia to deny the claim.
claim_notification_deadline
The policyholder must contact the relevant authority immediately after an incident (police for theft, robbery, or traffic accident; fire brigade for fire; emergency services for explosion, etc.) and notify Balcia as soon as possible. If timely notification is not made and Balcia cannot determine the circumstances or the precise amount of loss, the claim may be denied. A decision on compensation is issued within 5 business days of receipt of all required documents.
deductible_rules
The deductible (pašrisks) is set in the policy in monetary or percentage terms and is deducted from each claim payment. No deductible is applied: (a) if a third party is at fault in a traffic accident and damage is compensated under that party's MTPL; (b) for lost keys or personal belongings damage/theft. The deductible is doubled (minimum 20% of the payout) for theft or robbery occurring in CIS territory. If compensation is reduced by up to 50% where speed was exceeded by more than 30 km/h and causally linked to the loss, or where key replacement requirements were not met after key theft/loss.
Policy specifics
24/7 Roadside Assistance
Round-the-clock roadside technical assistance service included in CASCO coverage, with towing and emergency repair support
Accident Insurance for Driver and Passengers
Bundled accident coverage protecting driver and passengers against injuries and death resulting from traffic accidents, included in CASCO insurance
Replacement Vehicle Provision
Free replacement car provided while insured vehicle is under repair, including option to select electric vehicles (e.g., Tesla) as replacement
Glass Breakage Coverage
Coverage for windshield and window glass damage caused by flying objects, stones, or other incidents during vehicle operation
Vehicle Theft and Total Loss Coverage
Coverage for vehicle theft, robbery, and total loss/destruction of the insured vehicle due to accidents or other covered events
Vehicle Accessories and Equipment Coverage
Coverage for vehicle accessories including tires, audio systems, roof racks, exhaust systems, navigation devices, and protective covers with limit up to EUR 2,000
Natural Disaster Coverage
Coverage for vehicle damage caused by natural disasters including storms, floods, lightning, hail, and fallen trees
Authorized Repair Network
CASCO repairs must be performed at Balcia partner repair shops; policyholder gets convenient selection of nearest service center
Deductible Options
Policyholder can select deductible (excess) amount; includes option for no deductible (zero deductible) policies, particularly popular in Latvia
Territorial Coverage Options
Policyholder can select coverage territory: Latvia only, Baltic States (Latvia + Lithuania + Estonia), or Europe with expanded geographic reach
Flexible Payment and Cancellation
CASCO policy can be purchased for flexible time periods and split into 12 monthly payments; cancellation allowed anytime without penalties
Vehicle Security Requirements
Vehicle must meet specified technical condition and security requirements; insurer evaluates vehicle condition prior to policy issuance