A KGFB, or compulsory motor third-party liability insurance, is a legal requirement for all vehicle owners in Hungary. Failure to have this insurance can result in severe consequences, both financially and legally. In this article, we will explore the potential ramifications of neglecting to have KGFB coverage, as discussed on Eco.hu.
One of the most immediate consequences of not having KGFB insurance is the risk of facing hefty fines. In Hungary, driving without valid insurance is considered a serious offense, and offenders can be fined up to several hundred thousand forints. These fines can quickly add up and put a significant strain on your finances, not to mention the stress and inconvenience of dealing with legal proceedings.
Furthermore, driving without KGFB insurance can also lead to legal repercussions. If you are involved in an accident without insurance, you could be held personally liable for any damages or injuries caused. This could result in costly legal battles and potentially even criminal charges. In addition, if you are found to be at fault in an accident without insurance, you may be required to compensate the other party for their losses, which could amount to a substantial sum.
Aside from the financial and legal consequences, not having KGFB insurance can also have practical implications. Without insurance, you may find it difficult to access certain services, such as vehicle repairs or medical treatment, in the event of an accident. This can further exacerbate the already stressful situation and make it harder to recover from the incident.
In conclusion, neglecting to have KGFB insurance can have serious and far-reaching consequences. From hefty fines and legal troubles to practical difficulties in accessing necessary services, the risks of driving without insurance are not to be taken lightly. It is essential for all vehicle owners in Hungary to ensure that they have valid KGFB coverage to protect themselves and others on the road.