päevasõidu

Päevasõidu refers to a type of automobile insurance in Estonia that covers damage caused to third parties. The term literally translates to "daytime driving" but in the context of insurance, it signifies mandatory liability insurance for vehicles. This insurance is legally required for all registered motor vehicles operating on public roads in Estonia.

The primary purpose of päevasõidu is to protect innocent third parties who may suffer injury or property damage due to an accident caused by an insured vehicle. It ensures that victims can receive compensation for their losses, such as medical expenses, lost earnings, and vehicle repairs. The policyholder, the driver at fault for the accident, is covered for their liability towards these third parties.

The scope of coverage typically includes personal injury, death, and property damage. It does not, however, cover damage to the insured vehicle itself or injuries sustained by the driver of the at-fault vehicle. For such comprehensive coverage, additional insurance policies like kaskokindlustus (comprehensive insurance) would be necessary.

Päevasõidu is regulated by Estonian law, and all insurance providers offering this product must adhere to specific requirements set by the Estonian Financial Supervision Authority. Owners are obligated to have a valid päevasõidu policy at all times when their vehicle is in use or registered. Failure to do so can result in fines and other legal penalties. The insurance is typically purchased for a period of one year, with renewal required annually.