Gépjármfedezet

Gépjármfedezet refers to motor vehicle insurance in Hungarian. It is a mandatory type of insurance required by law in Hungary for all owners of registered motor vehicles. The primary purpose of gépjármfedezet is to cover damages that the insured vehicle may cause to third parties, including property damage and bodily injury. This insurance protects the victim of an accident from financial loss and ensures they receive compensation for their damages.

There are different types of gépjármfedezet available. The most basic and legally required form is called kötelező gépjármű-felelősségbiztosítás, often abbreviated as KGFB. This covers the civil liability of the vehicle owner. In addition to the mandatory insurance, owners can opt for additional coverage. These voluntary insurances, such as casco (comprehensive insurance), can cover damages to the insured vehicle itself, regardless of fault, including theft, fire, vandalism, and accidents.

The cost of gépjármfedezet varies based on several factors, including the vehicle's engine size, type, age, the owner's driving history, and the chosen coverage levels. Insurance companies assess these factors to determine the premium. Driving without valid gépjármfedezet can result in significant fines and legal consequences in Hungary. It is essential for all vehicle owners to maintain active insurance to comply with legal requirements and to protect themselves and others from potential financial burdens in case of an incident.