Mandatory Car Insurance Might Get More Expensive

The Ministry of Finance does not exclude tariff increase in compulsory insurance of civil liability of vehicle owners (CTP).

Finance Minister Samir Sharifov at the press conference on Monday admitted that the issue is being worked out in accordance with the appeals of insurance companies.

The basic rate for CTP is 50 manat for vehicles with an engine capacity of up to 1,500 cubic centimeters. As the volume of the engine increases, coefficients from 1.5 to 5 are used. The maximum insurance rate is 250 manat. -0-

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