The compulsory traffic insurance premium increase rate, which concerns millions of vehicle drivers, has been announced. According to Milliyet, traffic insurance will increase by 2 percent in September.
Turusan Bağcı, the President of the Consumer Confederation Insurance Commission (TÜKONFED), explained the questions about the subject. Bağcı used the following expressions in his speech:
“The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) announced the increase rate to be made in September as 2 percent.
‘THERE WAS NO RISE IN AUGUST’
There was no increase in August. The traffic insurance premiums for July were the same as those for August. Now, there will be a 2 percent increase on August premiums.
‘INSURANCE COMPANIES WANT INTERIM PRICE INCREASES’
SEDDK says that it determines the monthly increase rate by looking at the damage index, chamber of commerce data, vehicle price increases, and damage costs. Insurance companies state that they are losing money and demand interim regulation. If an interim regulation will be made in traffic insurance, I think it will become clear towards the end of the year. Looking at the entire year, looking at the data of insurance companies, it may be possible to make a large increase again in January 2025 at the end of the year. There are also insurance companies that want this to be done in September and October.
