In order to minimize the damage that may occur due to factors such as almost weekly increases in vehicle prices, it has been decided to publish the Motor Insurance Value List, which is published once a month, three times a month as of June 2022.
Evaluating the current developments on the subject, Monopoli Sigorta CEO Erol Esentürk said, “The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) increased the traffic insurance prices and the new regulation was published in the official newspaper last week. While an increase is envisaged in the compulsory traffic insurance maximum premium rates, the no-claim premium discount rates have been reduced. Traffic insurance premiums, which are being increased by 2.25% per month, will increase by 4.75 percent per month as of September 1. In September, an additional 20 percent increase will be made. Another change was made with the new arrangement; For the first time, a distinction was made between private-legal vehicles, that is, private-vehicle company vehicles, and premium increase rates were determined accordingly.”
Evaluating the problem from the point of view of agencies, Esentürk said, “As insurance companies are trying to compensate for the losses in the auto branch in non-auto branches, they inevitably turn to a more conservative understanding of insurance in these branches. In the coming periods, some insurance companies may withdraw from certain branches or bring high premiums and exemptions to these branches,” he stressed.