Fund for victims of the road: what it is and when it intervenes

What happens in the event of an accident with an uninsured or unidentified vehicle? The road casualty fund is responsible for the compensation, let’s see how it works and what you need to know.

The road casualty fund is a guarantee fund that protects motorists and pedestrians in the event of an accident involving an uninsured vehicle or a hit-and-run driver. But how does the fund work and in which cases does it cover damages?

What is the road casualty fund?

The road victims’ fund was established in 1969 and has been active since 1971. Its function is to guarantee compensation for damage suffered by things or people following an accident for which there is no claim against the insurance company of the responsible.

The fund is managed by Consap, under the supervision of the Ministry of Economic Development. The endowment of the fund is fed through a percentage levy on the premiums paid by the insured motorists. Currently, the fund receives 2.5% of the number of insurance premiums paid to the companies.

In recent years, the decrease in insurance premiums and the increase in accidents for which the guarantee fund for road victims had to be intervened has significantly reduced reserves. So much so that the hypothesis has circulated to increase the levy on insurance premiums up to 4%.

Damage covered by the road casualties fund

The guarantee fund for road victims covers both personal injury and property damage. The Insurance Code lists the six types of claims in which the fund intervenes:

  • accidents with unidentified vehicles: this is the typical case of accidents caused by road pirates. In this case, personal injury and damage to property are covered for the part that exceeds the excess of 500 euros;
  • accidents with uninsured vehicles: also in this case the fund covers personal injury and damage to property for the amount that exceeds the excess of 500 euros;
  • claims with vehicles insured with a company subject to compulsory administrative liquidation;
  • vehicles are stolen or otherwise circulating against the will of the owner;
  • vehicles shipped to Italy from a State of the European Economic Area, for accidents occurring within 30 days from the date of acceptance of delivery;
  • foreign vehicles with a license plate that does not correspond to the vehicle.

How to claim compensation from the road victims’ fund

To request compensation from the road victims’ fund, one must contact one of the insurance policy numbers designated by IVASS, which differ according to the region in which the accident occurs. IVASS identifies every 3 years the companies authorized to pay this compensation.

Damages to persons or property are reimbursed within the limits of the limit set by law. Currently, the ceiling is:

  • € 6,070,000 for personal injury;
  • 1,220,000 euros for property damage.

Compensation must be requested from the insurance company designated by IVASS. A copy of the claim must also be sent to Consap.

In addition to explaining the dynamics of the accident, the request for compensation must contain all the documents proving the damage suffered: depending on the case, the accident report drawn up by the police may be requested, the report of the theft of the car by the owner, the declaration of the police that demonstrates the absence of insurance coverage, the report issued to the emergency room or the complaint filed against the pirates of the road.

The designated company has 60 days to review the claim and to:

  • make an offer for compensation;
  • refuse the request, explaining the reasons.

Only in the event of an accident involving a vehicle insured by a company subject to compulsory administrative liquidation, the deadline for the analysis of the compensation request increases to 6 months.