11:28 - 22.08.2023

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August 22, Fineko/abc.az. An increase has recently been observed in prices for compulsory car insurance, insurance expert Vusal Badalov said, according to ABC.AZ.

According to him, the new rules introduced in this area have led to a change in prices.

"In some insurance companies, interest in compulsory vehicle insurance has somewhat decreased. Current prices do not cover the expenses of insurance companies, because the amount of funds paid to the insured has increased significantly," Badalov said.

The expert attributed this to certain reasons. He noted that in the future we may witness an increase in prices for compulsory insurance.

Vusal Badalov added that in the event of a repeated increase in prices by insurance companies, the amount paid to the insured will also increase.