22 November 2013
Recent legislative amendments in regulatory framework which will be effective as of 11 February 2014 requires insurance policy explicitly to state that insurance cover applies throughout the EU, EEA, Andorra, Serbia and Switzerland and will remain in force during the policy period when the vehicle is in another EU member state.
In addition as of 11 November 2013 new rule is introduced regarding the territorial coverage of MTPL insurance. Regardless any statements by the insured about the country where the vehicle is usually driven, the insurance cover shall not be affected and the insured shall be covered for the whole territory of the EU, EEA and the third countries which National Insurers’ Bureaux are signed the Multilateral Agreement. Thus one of the options the insurers used to sell at lower rates MTPL insurance in case the motor vehicle is driven solely in Bulgaria is terminated.