Details of a 21% increase in third party car insurance
In an interview with the Iran Economist, Hassan Reza Abbasianfar said about the increase in the third party insurance premium rate for vehicles following the increase in the diyat rate this year: the full diyat rate of a human being increased by 25% from 480 million tomans in normal months to 600 million tomans And in the forbidden months, it has increased from 640 million Tomans last year to 800 million Tomans, and because the financial obligation in the insurance policy is usually 2.5% of the total rate of Diyat, which was 16 million Tomans last year for insurance policies and has become at least 20 million Tomans this year.
He continued: “Last year, in the last meeting of the Supreme Insurance Council, it was decided that due to the inflation situation and the government’s policy in controlling prices and reducing the economic pressure on the people, although the ransom rate goes up, it is less than that Insurance increases, although the more the ransom increases, the higher the financial liabilities of insurance companies. However, the Supreme Insurance Council decided that although the ransom rate would increase by 25 percent, the third-party insurance premium would increase by 21 percent.
The Director General of Planning and Technical Affairs of the Central Insurance of Iran stated: At the time of the loss, the insurance company fulfills its full obligation and if more damages are incurred up to the amount of the compensation, the bodily injury fund will pay the rest; That is, from the first of Farvardin this year, the commitment of insurance companies for a full ransom is 600 million Tomans in normal months and 800 million Tomans in forbidden months.
Abbasianfar said about what will happen to those who have bought insurance policies until the end of 1400: “According to the new law, there is no need to add insurance premiums and if there is a loss, according to the insurance policy, the insurance company’s commitment will be paid up to the difference between the insurance commitment and the ransom rate.” The new pays the bodily injury fund.
He also said that, of course, in the case of financial damages, those who want can buy an add-on to compensate for the financial damages based on the increase of the financial damages ceiling, but there is no need for an add-on to pay for the loss of life.
The Director General of Planning and Technical Affairs of the Central Insurance of Iran said about the duties of those who have bought insurance policies from the beginning of this year to April 28: “These will be according to the previous commitment of the insurance company, but their number is very small. 220,000 people have bought insurance policies this year until yesterday, and they should also go and buy the supplement.
* 13% of motorcycles have insurance
Abbasianfar on how many cars and motorcycles are not insured in the country, added: about 98% of vehicles have a third party insurance for cars, vans and cars, but unfortunately, most motorcycles do not have insurance, as in motorcycles. 12.5 million numbered motorcycles in the country According to the statistics of 1999, only about 1.6 million motorcycles have insurance; This means that 13% of motorcycles have insurance and 87% do not have insurance.
Asked why motorcycle owners do not buy insurance, he said: “Motorcycle insurance premiums are not a big number and this year with all the increases for a motorcycle is 700 thousand tomans, which does not cost chewing gum or cigarettes. Unfortunately, there is a misconception that motorcyclists feel the need.” They do not, because in accidents it is often said that the car was to blame and most motorcyclists consider themselves among the victims, so they do not consider themselves in need of insurance.
The Director General of Planning and Technical Affairs of Central Insurance of Iran stated: The new third party insurance premium has been notified to all insurance companies and registered in their system from today, so all insurance policies from today, April 30, 1401 based on the new ransom rate of 600 million Tomans per month Normal and 800 million forbidden months are calculated.
Regarding the insurance penetration coefficient in the country, Abbasianfar said: “Based on the calculations of GDP, the GDP penetration coefficient is determined, the figure of which has not been finalized for 1400 yet and the total premium of the previous year has not been summarized, but based on statistics.” In 1999, the insurance penetration rate in the country was 2.5%.