What You Need to Know About Motor Vehicle Compulsory Liability Insurance
Motor vehicles have become an indispensable part of our daily lives. Before these vehicles hit the road, compulsory liability insurance It is of great importance to have it done, both as a legal obligation and in terms of providing financial security. In this article, we will provide comprehensive information about motor vehicle compulsory liability insurance, and we will discuss the advantages, scope and latest updates of the insurance in detail.
What is Compulsory Liability Insurance?
Compulsory liability insurance covers motor vehicle owners for any damages that may arise from the use of the vehicle. material damages ve bodily injuries This type of insurance is required to cover the damages of the other party in traffic accidents and reduces the financial liabilities of the insured. Therefore, this type of insurance is not only a legal obligation, but also necessary for a safe driving experience.
Scope of Compulsory Traffic Insurance
Compulsory liability insurance, damages of the other party This includes; vehicle damages, injuries and deaths resulting from accidents. The insurance policy provides coverage within certain limits to cover material losses that may occur in the event of an accident. In addition, the scope of the insurance policy is updated with the changing insurance tariffs every year.
New Regulations for 2024
Recently, motor vehicles are subject to compulsory liability insurance important changes Among the new regulations that will be valid as of January 1, 2025, some criteria will be taken into consideration in determining insurance premiums. In particular, taxi, minibus, bus, truck and tow truck A 2024% increase is expected in vehicle groups and a 10% increase in other vehicle groups compared to December 5. These increases will directly affect insurance costs.
Discounts for Disabled Individuals
With the latest regulations, National Disability Data SystemSpecial discounts can be applied to people registered in. This discount rate can be up to 20%. Thus, it is aimed to reduce the traffic insurance costs of disabled individuals. Such arrangements contribute to alleviating the financial burden of disabled individuals in society.
Policy Processes and Premium Amounts
With the new regulations, there have been changes in the premium amount accrued to insurance companies when the compulsory traffic insurance policy expires. In case the insurance policy is terminated within the framework of the relevant legislation, at least 250 TL The premium amount determined as, gross minimum wage It has been increased to 2%. In addition, the agency commission is at least 200 TL and it has been stated that it can be increased up to 80% of the premium.
Pool Policies and Damage Sharing
The sharing of premiums and paid damages among insurance companies for policies within the scope of the Pool issued between 2017-2024 has also changed with a new regulation. In this context, 50% of the premiums and paid damages will be shared equally among insurance companies, while the remaining 50% will be shared equally among insurance companies. from traffic insurance premiums will be distributed by calculating according to the share they have received in the last 3 years. This will help insurance companies maintain their financial balance.
The Importance of Having Compulsory Traffic Insurance
Having compulsory traffic insurance for motor vehicle owners is both a legal obligation and provides great security in the event of an accident. This type of insurance covers the other party's losses after an accident, prevents victimization and reduces the driver's financial liabilities. In addition, vehicle owners who do not have insurance run the risk of facing sanctions.
As a result
Compulsory liability insurance is one of the most important security tools for motor vehicle owners. With the new regulations, the scope of this type of insurance has been expanded and various discounts have been offered. All vehicle owners are required to protect themselves and other drivers by taking out this insurance. It should not be forgotten that traffic accidents can occur at any time and in this case, insurance plays a major role in preventing financial losses.
