In Albania there are about 711 thousand vehicles in circulation according to data from the Road Directorate.
Meanwhile, insurance companies show that only 660 thousand insurances have been concluded for them, while about 50 thousand vehicles are without one.
Vehicle insurance prices are expected to change, as insurance companies are required to include in the price more risk factors, such as the experience or age of the driver.
Based on these factors insurance is expected to be higher for dangerous drivers. They will also be required to use the Bonus-Malus system or vehicle damage history.
This system with legal changes was left to the voluntary hand of insurance companies, but none of them implemented it.
Road expert Arben Luzi says that this new insurance system will increase road safety: “It’s a belated step. Bad drivers will now pay money out of their own pocket if they make a mistake. Let’s say it’s a form of punishment, now there will be no more charity in thinking it’s the insurance company money, but should think of it as money from their own pocket.”
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