Drivers Protest Again Against Increase in Mandatory Insurance Fees

Drivers have once again staged a protest against the increase in mandatory insurance fees. It should be noted that this decision was made by the Bureau of Insurers of Armenia. For the first time, the annual insurance premium for vehicles will amount to 41,000 drams, regardless of engine power.

Previously, the cost of mandatory insurance was differentiated based on engine power, ranging from 26,000 to 53,000 drams. Now, a unified base price is being established for all vehicles. The Bureau of Insurers clarified: “For insurance providers in the low-risk and basic groups, which make up the majority, the increase will be between 1,500 and 3,000 drams. However, for a small percentage of insurance providers—approximately 15%—in the high and medium risk groups, the increase will be significantly more.”