Consorcio is the insurer of last resource of compulsory motor car third-party liability insurance for vehicles rejected by the market, as well as for fleets of any public body that requesting this cover. It is also the guarantee fund for damages caused by unknown, uninsured or stolen vehicles.
The mandatory insurance envisaged in this Law guarantees Third Party Liability cover for terrestrial, automobile vehicles generally parked in Spain, through the payment of a single premium, in the whole of the European Economic Area (Germany, Austria, Belgium, Bulgaria, Czech Republic, Cyprus, Denmark, Slovakian Republic, Slovenia, Estonia, Finland, France, Great Britain, Greece, Holland, Ireland, Iceland, Italy, Lithuania, Latvia, Liechtenstein, Luxembourg, Malta, Norway, Poland, Portugal, Rumania, and Sweden) and to States that have subscribed to the Agreement between the National Insurance Offices of the Member States of the European Economic Area and other associated States (Albania, Andorra, Belarus, Bosnia-Herzegovina, Croatia, Fyrom (Former Yugoslav Republic of Macedonia), Iran, Israel, Morocco, Moldavia, Serbia-Montenegro, Switzerland, Tunisia, Turkey and Ukraine.
Said cover will cover any stay by the insured vehicle in the territory of the other Member State of the European Economic Area during the effective period of the policy.
When a loss is occasioned in a State that has subscribed to the Agreement between the National Insurance Offices of the Member States of the European Economic Area and other associated States, other than Spain, by a vehicle that is generally parked in Spain, the limits established by the State in which the accident has occurred will apply. However, if the loss is occasioned in a Member State of the European Economic Area, the limit of cover envisaged in Spanish legislation will apply as long as these are over and above those established in the State where the accident occurred.