"Cars up to 1500 cubic meters, almost 10% discount on insurance" - Morinaj: With the new regulation, every driver is treated fairly
The new regulation of the Financial Supervisory Authority, which came into force this year and which provides for the calculation of insurance premiums based on risk factors, such as the age of the car, the district where it is registered, the age and experience of the driver, and others, has recently been met with much dissatisfaction from vehicle users.
In a statement to the media, the President of the Albanian Insurers Association, Kadri Morinaj, stated that the new car insurance scheme, bonus-malus, guarantees a fair calculation of the insurance premium for every driver.
"From January 1, the new regulation has started, which does not mean at any time an increase in the insurance premium to 30%, but there are several risk factors that everyone must take their share of and the redistribution of risk takes into account starting from the cubic capacity of the car, which means, a car with 1300 to 1500 cubic meters and its price decreases, goes to the share, and a car with 2000, 2500, 3000 cubic meters, will get what it deserves. A person who has a Ferrari or Lamborghini car, until yesterday paid 185 thousand lek. All cars up to 1300, 1500 cubic meters, they have a discount from 3% to 10%. "
Determining the price of insurance based on risk factors is a practice that has been followed for years in European Union countries.
Klajdi Çitozi, Member of the Albanian Insurers Association: "This law has increased transparency towards the public. Today, anyone who enters the AFSA website has the formula for calculating health claims, which was not the case before."
According to official data, about 2% more or over 70 thousand clients were compensated in 2024. The payment of damages in value increased by about 25% more than in 2023. The payment of motor vehicle damages increased by about 35%.
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