EU entry comes at a cost: Car insurance for Albanians expected to increase significantly

2026-05-23 16:50:02Biznes SHKRUAR NGA REDAKSIA VOX

The approximation of legislation with the European Union has forced the Financial Supervisory Authority to review the law on compulsory insurance in the transport sector.

The new draft law foresees a significant increase in the limit value that companies must pay for insurance events, including injured persons, the effects of which will come into force after EU membership.

"According to the new draft law, this amount will increase to 6.45 million euros for each insurance event. Currently, there are several levels depending on the type of vehicle. For example, for vehicles transporting hazardous materials it is 200 million, for buses and trucks it is 150 million lek."

"But for most other vehicles, when including cars for personal use, we are at the level of 55 million lekë. So with the new law we will have an increase of more than 10 times," said expert Ersuin Shehu.

According to expert Shehu, the changes in the law are also expected to affect drivers in terms of insurance prices.

"The change, let's say the most important one, will be the cost, the price of compulsory vehicle insurance will be higher than it is today, but of course it is difficult to talk about exact values," he said.

The draft also stipulates that insurance companies may use electronic systems to conclude contracts with consumers, which will be considered equally valid as written ones.


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