After moving to a different country, it’s time to take the first steps into legalizing your stay and protecting yourself with adequate insurance. How to choose it for your car?
Investing in insurance is treated by many as unnecessary spending. However, even those who tend to see the future in bright colours shouldn’t underestimate life that is full of surprises – not only these positive ones. Even if positive thinking really lowers the risk of negative occurrences, things happen – and in case they do, we should be backed up with well-adjusted insurance. That applies not only to our health and safety but also material goods we have at our disposal, such as cars.
MTPL – motor third party liability insurance (ANSVARSFORSIKRING)
In most of the European countries, the drivers are obliged to buy and regularly renew the car insurance at its basic form. The English shortcut of this variant is MTPL, which means motor third party liability insurance. When driving on most European roads, it is required to have the updated MTPL at your disposal. That also refers to Norway, where this insurance stands by the name “ANSVARSFORSIKRING”. It covers the bodily injuries and material damage to the innocent party and the passengers of the insured vehicle. This basic insurance is also required from the short-term visitors using their car on the territory of Norway.
Note that liability insurance doesn’t cover any damage to your car. It is a basic option that has only legal assistance included.
Other types of insurance
However, living and driving in Norway, you may want to extend the basic insurance to protect yourself from various occurrences. The liability insurance covers only the damages that you are not responsible for. Nevertheless, even the best drivers can end up causing a more or less serious accident, and it’s worth taking it into account. Also, your car can be stolen, robbed, or damaged, and the standard insurance won’t cover it.
If you are considering more extended protection, you may decide to invest in comprehensive motor insurance or reduced own damages insurance. The second one covers the robbery and vandalism toll, and events such as fire, flooding, and so on. The first – in Norway called Kasko – is the most extended, covering any collisions regardless of the responsible party. Living in Norway, it’s definitely worth to invest in extended option, as it the costs of repair or the healthcare expenses after the accident can be heavy for your budget.
Article prepared in cooperation with LOCALMARKET.