The price of 'Third-Party Liability' continues to rise
Over the last decade, Bulgarian drivers have noted a significant increase in the price of the mandatory 'Third-Party Liability' insurance. Although statistics show fewer road accidents and a lower frequency of claims, the costs for policies are not decreasing; on the contrary, they are becoming increasingly higher.
The Institute for Road Safety (IRS) has drawn attention to this trend, which is having a serious impact on the family budgets of car owners in the country. Experts note that the insurance services market in Bulgaria is going through a period of changes that directly affect end consumers.
A key question concerning the public is why insurance premiums are rising when the number of road accidents is falling. According to specialists, the reasons can be complex and include both inflationary processes and changes in the way insurance companies assess risk when determining their tariffs.
For many Bulgarian citizens, owning a car is becoming an increasingly expensive luxury. In addition to fuel and maintenance costs, mandatory insurance is taking up an ever-larger share of annual household expenses. Consumers are hoping for greater transparency in price formation in the future.
At the moment, there are no clear indications that the price of 'Third-Party Liability' will stabilize in the short term. Drivers in Bulgaria continue to monitor the situation, while institutions consider whether regulatory changes are necessary to protect the interests of consumers in the insurance market.