How much did we pay for car insurance in January? - AMF: Increase in all products. Border insurance recovers slightly, after the decline in 2024
Albanians spent a total of 448 million lek on car insurance with domestic MTPL, green card and border insurance in January.
Domestic MTPL, which refers to motor vehicle insurance for liability to third parties in cases where the insured is involved in an accident and is liable for material, property, or health damages, saw a 7.8% increase in the number of contracts last year, while premiums reached 388 million lek.
On the other hand, the green card insurance for all vehicles registered in Albania that travel abroad has been accompanied by a 12.75% increase in the volume of premiums, bringing the total value to 156 million lekë. From February 1 of this year, all cars traveling to Montenegro benefited from a discount on the insurance price for the “Green Card”. From €400 which was the premium for 1 year, they now pay only €50, while the premium for 15 days continues to be €15. For other neighboring countries where there is a flow of Albanian vehicle movements, the price of the insurance policy remains the same.
Regarding border insurance, the number of contracts and premiums suffered a significant decline last year. However, 2025 has started with a slight recovery. Border insurance for vehicles with foreign license plates circulating within the territory of Albania has recorded an increase of 5.05% in the volume of gross written premiums compared to January 2024. The number of contracts also increased by 8.88%.
This year, the implementation of the new car insurance scheme has also begun, which provides that the insurance premium for a vehicle is calculated based on the history of claims, including cases where the cause of the accident is not listed in the insurance policy, engine power, age of the insured, experience in driving a motor vehicle, age and registration district of the vehicle, but also whether the vehicle is used by an entity or individual.
According to the Financial Supervisory Authority, motor insurance revenues account for 74% of total revenues in the non-life category, fire and other property damage insurance premiums account for nearly 10%, while accident and health premiums account for nearly 8.7%.
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