Vehicle Insurance Prices
Taxi and vehicle insurance is one of the most curious topics for all vehicle owners recently. With the arrival of 2014, all the news, topics, and information suggesting that vehicle insurance prices would decrease have made vehicle owners happy. According to these, the Mandatory Traffic Insurance, which 10 million vehicles have to get every year, and the fact that comprehensive insurance will become cheaper in 2014, seems to have alleviated the negative situations experienced in the automotive sector in recent years. With a recent statement made by a high-level treasury official, information is emerging that there will be a gradual and continuous decrease in mandatory traffic insurance in the coming years.
Mandatory Traffic Insurance
In previous years, namely 2012 and 2013, the daily increase in mandatory traffic insurance, which often reached 100%, caused major firms and companies in the automotive sector to suffer more losses than necessary. Accordingly, with mandatory traffic insurance, a change that came into effect on January 1, 2013, the no-claims discounts and premium increase rates also started to disappear. Insurance companies will now have the right to increase premiums and apply no-claims discounts, similar to comprehensive insurance. However, with the disappearance of no-claims rates, all companies and firms will start to apply discounts of 10% in the first year, 15% in the second year, and 20% in the third year to drivers who have no claims during the year.
However, it can be said that while insurance firms and companies were generous with no-claims, they were equally generous with claims and problems. They have the right to increase rates and prices by approximately 20% for the first claim, 40% for the second claim, and up to 60% for the third claim. However, it is said that these rates were also very generous. However, these rates are now completely disappearing, and the treasury is also removing this limit of 250%. Accordingly, insurance companies now have the right to apply discounts and claim increases at their desired rates. We can see that mandatory traffic insurance is no different from comprehensive insurance.
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