In addition to car liability insurance , every motorist is currently protected by the fund for road victims: let’s see together what this additional guarantee consists of.
What is the fund for road victims
As the word itself says, we are talking about a fund, that is a “virtual cash desk” where money is paid in order to make it available later for a specific purpose. In this case, the money is used to protect you motorists when, following a road accident, the person responsible is not regularly insured and is therefore unable to cover the damage caused.
The fund for road victims is maintained by the insurance companies themselves, which are required by law to pay a share in proportion to the number of policies stipulated with their customers.
This fact underlines two fundamental aspects:
- when you pay your car policy, you contribute to paying a percentage of the premium paid directly into the guarantee fund;
- those who do not comply with legal obligations and drive with an uninsured vehicle are prosecuted: the penalties are obviously more severe, also to cover the expenses incurred to maintain the guarantee fund.
The guarantee fund also covers motor boats with the same conditions listed above, but only in relation to the vessels for which the insurance obligation applies; both by road and by sea you can request the intervention of the fund only in the presence of personal damage, without which the things alone cannot be paid for.
Who can access the fund for road victims
To be eligible for access to the guarantee fund, at least one of the following conditions must be met:
- collision with an unidentified vehicle: in the event that you have an accident with a car that immediately flees from the place of the accident and it is not possible to identify the data, the fund for victims of the road covers all possible damage to you, while for the vehicle there is an excess of 500 euros;
- collision with an uninsured vehicle: also in this case you can request assistance from the fund; the coverage is identical to that provided for a possible accident with an unidentified car;
- collision with an insured vehicle with a company in compulsory administrative liquidation: this is a very rare case but still possible, you must know that you have the right to request the intervention of the guarantee fund;
- collision with a vehicle that circulates against the will of the owner: the guarantee fund protects you even if you are involved in an accident with a car that has been stolen;
- collision with a foreign vehicle without a corresponding number plate on Italian territory;
- collision with a foreign vehicle not yet in compliance with Italian regulations: these are cars purchased abroad that have an accident in the initial phase, precisely in the first 30 days following acceptance of delivery.
How to access the fund for road victims
In order to be entitled to compensation, in addition to being included in the above cases, you must obviously present the appropriate documentation; the latter varies according to the type of accident, but in any case it consists of something simple, which you can obtain in a short time and without too much difficulty. For example, in the event of an accident with a “ghost” vehicle, you must immediately call the police, whose report will be useful for completing the application with your insurance.
It must be specified that IVASS (Institute for Insurance Supervision) establishes every year which companies are required to draw from the victims’ fund on the street: if yours is not among them, you must not worry, it will be your insurance request the intervention of one of the designated institutes.
To forward the request, it is sufficient to send a registered letter including the report, any first aid report and everything that falls within the costs incurred due to the accident; in many cases it is convenient to request the intervention of a lawyer who will take care of all the practices for you and analyze all the aspects for which you may be entitled to further compensation.
The fund for road victims is undoubtedly an opportunity not to be missed in all cases in which you are involved in an accident with a car that does not comply with the rules of the road.
For your protection, it is very important in minor claims that you always call the police to avoid not having the necessary documents in hand to submit the application; in the most serious cases the ambulance should always intervene.
Finally, it should be noted that ceilings have also been applied to the fund for road victims, which are exactly the following:
- personal injury: the ceiling amounts to 6 million and 70 thousand euros for each accident. This is a substantial figure which should be sufficient to cover all the anticipated expenses;
- damage to property: the ceiling is 1 million and 220 thousand euros. In this case the figure is decidedly lower and paradoxically it may not even be enough: think for example of an exclusive car or a heavy vehicle loaded with valuable goods. We are talking about almost impossible events, but not too much.