New hike in traffic insurance

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Compulsory traffic insurance, which was increased by 20 percent in February, will automatically increase by 2.25 percent every month. The annual increase will reach 51 percent.

Insurance and Private Pension Regulation and Supervision Agency, with its new circular, granted insurance companies the right to increase their traffic insurance premiums by 2.25 percent every month, starting from the beginning of May. In the current situation, companies could increase their traffic premiums by 1.5 percent per month.

When the 20 percent increase in February is taken into account, the traffic policy premium will increase by 51 percent in the next 1-year period. The lowest traffic insurance premium, which increased to 1,235 liras in April, will increase to 1,263 liras in May, 1,291 liras in June, and 1,320 liras in July.

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