20 Percent Increase in Traffic Insurance Premiums

In today’s issue of the Official Gazette for all vehicle owners an arrangement was made. This regulation, named “Regulation Amending the Regulation on Tariff Implementation Principles in Compulsory Liability Insurance of Highways Motor Vehicles”, covers traffic insurance premiums. 20 percent raise revealed.

According to the information in the Official Gazette, the new regulation, As of September 1, 2022 will come into effect. As of this date, citizens will pay their traffic insurance premiums with a 20 percent increase. In addition, the maximum premium amounts are calculated on a monthly basis. 4.75 percent rate will be increased. This decision reveals that insurance premiums will rise a little more each month.

Sanctions on insurance companies are on the way!

The Regulation Amending the Regulation on Tariff Implementation Principles in Compulsory Financial Liability Insurance of Highways Motor Vehicles, insurance companies sanctions brought. In this context, a new paragraph has been added to Article 15 of the relevant regulation. This clause temporarily extends the authorization certificate of companies that abstain from issuing policies. to be canceled provides. The paragraph in the Official Gazette reads:

• Insurance companies that are determined to avoid issuing policies are authorized to issue and renew policies in insurance branches determined by the Institution or in all insurance branches. Not less than 3 days and not more than 30 days can be temporarily suspended. In case the avoidance continues, these periods are determined by the decision of the Board. can be doubled and/or other measures may be applied. The Institution may announce insurance companies that are found to have avoided issuing policies and the injunction decision taken pursuant to this paragraph on the official website with a Board decision based on the eighth paragraph of Article 8 of the Presidential Decree No. 47.

No damage discount rates have been reduced!

The regulation in the Official Gazette reduced the discount applied to drivers who were not involved in traffic accidents. According to this;

• for the 7th digit 42 percent discount (was 45 percent),
• for step 6 22 percent discount (was 30 percent),
• for step 5 10 per cent discount (was 15 percent)

to do.

The premium increase rates applied due to the damage also decreased.

Drivers who are frequently involved in traffic accidents pay their insurance premiums. raised they were paying. With today’s regulation, the rate of hikes has been re-determined. According to this;

• for the 3rd step 45 percent raise (was 50 percent),
• for the 2nd step 90 percent raise (was 100 percent),
• for step 1 135 percent raise (was 150 percent)

to do.

If you want to reach the regulation in the Official Gazette, here You can use the link.