Insurance of Civil Liability towards third parties (injuries & damage reaching up to €1.000.000) arising from motor accidents, is compulsory, in accordance with the Greek Civil Code.
Apart from the insurance mandatory by law, one should also be acquainted with voluntary insurances. Voluntary insurances aim at providing the fullest possible coverage and financial security in events of peril. Voluntary insurances cover for: Fire , Acts of Terrorism, Theft (total & partial), Car Glass Breakage, Airbag Coverage, Natural Disasters, Same Losses, Personal Accident, Legal Protection, Breakdown & Roadside Assistance etc.
The main Acts regulating car insurance contracts are: Act 489/76 as codified by Presidential Decree 237/86 regarding the “Compulsory Insurance of Civil Liability arising from Motor Accidents” as already in force, and Act 2496/1997 regulating the Insunace Contract in general.