Car insurance price will not go up, decides Government

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At a session on Friday, the Government made a decision to return the price of auto liability insurance to the level of before April 25, 2024.

“The amendments and additions adopted by the Government are based on the proposal of the Automobile Liability Insurance Commission at the Ministry of Finance and they determine a range from 15% to 30%, in which the insurance companies can determine the part of the premium for performing the activity of automobile liability insurance.

On April 25, the price of the mandatory auto insurance policy increased by 15.44 percent for vehicles with a power of over 44 kilowatts. The price went from 840 to 1,600 denars, depending on the power of the vehicle. For the amount of expenses above 30%, it is foreseen that the insurance companies will request prior consent from the Insurance Supervision Agency. Today’s decision of the Government means the return of the price of auto liability insurance to the level of before April 25, 2024,” reads the government press release.

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