If you own a vehicle, you are required to acquire an auto insurance policy that meets the minimum requirements established by law. This type of insurance is commonly referred to as compulsory insurance. It is required in order to cover any damages that you may cause to a third party in a traffic accident.
How Traditional and Compulsory Insurance Policies Relate
Your vehicle’s public liability insurance also covers civil liabilities that you, as a driver or owner of a vehicle, may be subject to in the event of an accident.
The different insurance coverages offered by the compulsory insurance you select when purchasing your vehicle tag will provide the same coverage, regardless of the insurance company you chose.
Public Liability Insurance and Certificate of Compliance or Voucher Requirements
By law, to be exempt from purchasing compulsory insurance, you must provide proof of your traditional public liability insurance. The insurer is required to issue a Certificate of Compliance or Voucher as evidence.
When paying the vehicle registration fee, you must present this Certificate of Compliance or Voucher to demonstrate that you do not require the compulsory insurance.
As we’ve seen, the answer to the question in the title of this article is that you do not need compulsory insurance for your vehicle if you already have a traditional liability insurance policy.
Learn more at https://propiedad.grupotriples.com/en/compulsory-auto-insurance/
