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Legal Requirements
In Finland, car insurance is mandatory under the Motor Liability Insurance Act. All motor vehicles must carry at least Motor Liability Insurance (Liikennevakuutus) before being driven on public roads.
What Does Motor Liability Insurance Cover?
Third-Party Coverage: Protects against damages or injuries caused to others in an accident.
Injury Coverage: Covers medical costs and compensation for injuries to all parties involved in an accident, regardless of fault.
It is important to note that Motor Liability Insurance does not cover damage to your own vehicle or property. Driving without this insurance is illegal and may result in fines, vehicle registration suspension, and personal liability for damages.
Optional Insurance Policies
To enhance protection, drivers in Finland can opt for voluntary coverage, which includes:
Comprehensive Insurance (Kaskovakuutus)
Partial Kasko: Covers specific risks like theft, fire, vandalism, and windshield damage.
Full Kasko: Includes all partial Kasko coverage plus protection for accidental damage to your own vehicle.
Fire and Theft Insurance
Protects against vehicle theft and damages caused by fire.
Collision Coverage
Pays for repair or replacement of your vehicle after an accident, regardless of fault.
Roadside Assistance
Covers towing and assistance in case of a breakdown, often including services for flat tires, dead batteries, or fuel delivery.
Factors Influencing Insurance Premiums
Several factors determine car insurance premiums in Finland:
Vehicle Type: The make, model, age, and engine size of the car significantly impact premiums.
Driver Profile: Age, driving experience, claims history, and even gender can influence costs.
Location: Drivers in urban areas like Helsinki may face higher premiums due to increased traffic and accident rates.
Usage: Vehicles used for commuting or business purposes may have higher insurance costs.
No-Claims Bonus: Drivers with a history of no claims are often rewarded with lower premiums.
Car Insurance for Foreigners
Foreign drivers in Finland must ensure their vehicle is insured under a valid policy recognized in the country. For vehicles registered outside the European Economic Area (EEA), drivers may need to purchase short-term Motor Liability Insurance at the border or through local providers.
Claims Process
If you are involved in an accident or need to file a claim, follow these steps:
Document the Incident: Take photos, gather witness information, and record the details of the accident.
Contact Authorities: Notify the police if the accident involves injuries, significant damage, or disputes.
Report to Your Insurer: File a claim promptly with your insurance provider, providing all necessary evidence.
Repair and Compensation: Once the claim is approved, the insurer will arrange repairs or compensation based on your policy.
Tips for Choosing Car Insurance in Finland
Compare Policies: Use online comparison tools to evaluate premiums, coverage options, and provider reputations.
Assess Coverage Needs: Choose additional coverage (e.g., Full Kasko) based on your vehicle’s value and driving habits.
Understand Deductibles: Higher deductibles reduce premiums but increase out-of-pocket costs during a claim.
Check Discounts: Look for discounts based on no-claims history, multi-policy bundling, or safety features in your vehicle.
Conclusion
Car insurance in Finland combines mandatory liability coverage with optional policies to offer drivers a balance of legal compliance and financial protection. By understanding the requirements and exploring additional coverage options, drivers can secure a policy that fits their needs and confidently navigate Finland’s roads. Whether you're a local resident or a visitor, comprehensive car insurance ensures peace of mind and readiness for the unexpected.
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