The Motor Insurance Act will be revised in 2024. The changes will take effect on 1 June 2024. This information is according to the new legistlation.

The operation of a motorised vehicle on a racetrack is included in the Act’s definition of driving a vehicle, which means motor insurance is required.

Compensation under the motor liability insurance

Driver coverage does not apply to competitions and related practice, which means any injuries suffered by the driver are not compensated by their motor insurance. Instead, they may be compensated by an insurance policy included in a licence or a voluntary third-party insurance policy.

Motor third party liability insurance, “motor insurance” for short, compensates the other parties of an accident – other drivers and spectators, for example – for injuries and property damage.

Driver coverage does not apply to sport-specific training if it is in any way guided or supervised training that follows a programme with the aim of participating in competition.

The driver coverage of motor insurance does apply to driving as a hobby and driving instruction even if the driving takes place on a motor-racing track.

Motor liability insurance policies are always vehicle specific. Each insurance company defines the bases of payment for their motor insurance policies. This means prices between companies may vary.