InsuoraHow car insurance works in Romania
Romanian car insurance has two components. RCA (Răspundere Civilă Auto) — compulsory third-party motor liability insurance — is mandatory for all registered vehicles under Law 132/2017. CASCO is the optional comprehensive policy covering your own vehicle.
RCA is regulated by ASF (Autoritatea de Supraveghere Financiară), Romania's financial regulator. ASF sets minimum capital and solvency requirements for insurers and publishes a list of authorised insurers. RCA premiums are competitively set but constrained by actuarial requirements.
The 2023 Euroins collapse
In February 2023, ASF placed Euroins Romania under special administration following discovery of a major solvency deficit. In March 2023, ASF revoked Euroins Romania's operating licence. At the time, Euroins was Romania's largest motor insurer with approximately 2 million RCA policyholders — about 24% of the market.
The consequences were significant:
- Approximately 2 million policyholders suddenly had no valid RCA cover and needed to obtain replacement policies immediately
- FGA (Fondul de Garantare a Asiguraților — Insurance Guarantee Fund) took over outstanding claims, though with delays and complexity for claimants
- Remaining insurers absorbed the displaced clients under tighter solvency requirements, driving RCA premiums up 30–50% across the market in 2023
- ASF subsequently tightened oversight of all insurers and introduced new solvency monitoring rules
The Euroins collapse was the largest motor insurance insolvency in EU history by policyholder count. It highlighted the risk of choosing insurers on price alone — always check that your RCA insurer is listed on the current ASF authorised list.
Frequently asked questions
- Is this calculator free?
- Yes — completely free, no account needed. Nothing you enter is saved.
- How do I verify my RCA insurer is legitimate?
- Check the ASF public register at asfromania.ro — it lists all authorised insurers. Only purchase RCA from ASF-authorised insurers. Never buy RCA from an unlicensed broker or through informal channels — such policies are invalid and may constitute fraud.
- What does the Green Card (Cartea Verde) cover in Romania?
- Your Romanian RCA policy includes Green Card coverage for all EU member states and most European countries participating in the system. The Green Card certificate must be carried in the vehicle for international travel. In the event of an at-fault accident abroad, claims are handled through the foreign insurer via the Green Card bureau (BAAR — Biroul Asigurătorilor de Automobile din România).
- Is CASCO worth buying in Romania?
- For vehicles under 7–8 years old, or any vehicle with outstanding financing, CASCO is strongly recommended. Romania has relatively high rates of vehicle theft (especially in Bucharest) and hail events that cause significant damage. Without CASCO, all vehicle damage — regardless of fault — is your financial responsibility.