Vehicle as a security

As of July 3, 2016, in order to relieve the community of the persons with limited mobility, the general requirement to give special vehicles as a security in favor of the National Insurance Institute has been canceled.

This security requirement is effective only in the following cases:

  • When a person purchases a new vehicle by means of a standing loan from the National Insurance Institute and a financing loan from a bank, and the bank requires to receive the vehicle as a security in first rank, the National Insurance Institute will require to receive the vehicle as security in second rank.
  • When a person is eligible for a standing loan and for a loan from the loans fund in order to purchase a private/commercial vehicle which is not a special vehicle.
  • Only in exceptional cases, when the claims officer has ruled that, based on the circumstances of the case, it is necessary to require from the person with limited mobility to give the vehicle as a security.