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Huge hike in compulsory traffic insurance

Accordingly, compulsory traffic insurance (4th level maximum) premiums will be increased by 10-20 percent as of September 1, and monthly increases will be applied as 4.75 percent as of the same date. For once, this insurance was increased by 20 percent as of February 1 and by 25 percent as of June 1.

Monthly increases were announced as 1.5 percent in February and 2.25 percent in May. According to the current regulation, SEDDK will be able to suspend the policy issuance and renewal authority of insurance companies that refrain from making this insurance for 3-30 days. In addition, the “no damage discount rates” in premiums were reduced by 3-8 points, and “damage premium increase rates” were reduced by 5-15 points.

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