For whom is Compulsory motor third part liability compensation meant?
For a victim of a traffic accident who has not been found guilty of causing the accident:
- The owner of the car
- Pedestrians even if the guilt of the person who caused the accident has not been proven
- The driver
- Passengers who were in the car which caused the accident
Limits on compensation in Latvia
The equivalent in lats is based on the currency exchange rate which the Bank of Latvia has specified on the date when the decision on paying compensation has been taken.
| |
01.11.2007-30.11.2009 |
30.11.2009-31.05.2012 |
| Compensation for personal losses |
Up to a sum of lats equal to EUR 350,000, irrespective of the number of victims, but no more than a sum of lats equal to EUR 2,500,000 for a single traffic accident |
Up to a sum of lats equal to EUR 2,500,000, irrespective of the number of victims |
| Compensation for property losses |
Up to a sum of lats equal to EUR 100,000, irrespective of the number of third parties |
Up to a sum of lats equal to EUR 500,000, irrespective of the number of third parties |
Types of agreements
We will provide you with civil liability insurance for your car, truck, motorcycle, bus, tractor or trailer by concluding a standard OCTA agreement, a Border agreement, or a Green card agreement.
| |
Vehicle |
Area of activity |
Terms |
| Standard CMTPL agreement |
Registered in Latvia |
European Economic Zone (EEZ)* |
3, 6, 9 or 12 months |
| Border agreement |
Registered outside of the EEZ, but crossing the Latvian border |
EEZ |
1, 2, 3 to 12 months |
| Green card |
Registered in Latvia but driven in a country which participates in the Green card programme |
Countries in which this agreement is valid are listed in the Green card agreement |
15 days, 1, 2, 3 to 12 months
|
* The Standard agreement is in force in all European Union member states, as well as Switzerland, Liechtenstein, Norway, Iceland, Croatia, Andorra, and other countries which joined the May 30, 2002, multilateral agreement between national insurance bureaus in EEZ member states and associated countries.
