Participants in a traffic accident are obliged to immediately report this event to the police if, during the accident, there occurs:

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Material damage exceeding 200,000 CZK on any of the involved vehicles including transported items.

Material damage exceeding 30,000 CZK on any of the involved vehicles including transported items.
Material damage exceeding 50,000 CZK on any of the involved vehicles including transported items.

Legal Basis: You can find this in § 47, paragraph 3, letter b) of Act No.

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