The insurance premium for automobile liability insurance, which is compulsory for those who own cars and motorcycles, will be reduced from the April contract.
This is the first time in two years that insurance premiums have been lowered, and the reduction is expected to be about 10% on average for all types of vehicles.
Compulsory automobile liability insurance is compulsory insurance for those who own a car or motorcycle in preparation for traffic accidents, and the insurance premiums are reviewed annually by the Financial Services Agency based on the number of accidents and payment status. .
At the Financial Services Agency (FSA) council meeting held on the 13th, officials from the non-life insurance industry and the Financial Services Agency said that due to the spread of safety technologies such as automatic braking, the number of traffic accidents last year was 30% of the 2004 peak. reported to be declining.
At the council on the 13th, the insurance premiums paid by the non-life insurance industry to policyholders were lower than expected due to the decrease in traffic accidents. I was.
This is the first reduction in compulsory automobile liability insurance premiums in two years, and the reduction is expected to be about 10% on average for all models.
The Financial Services Agency's council will decide on the specific extent of the reduction at its next meeting on the 20th of this month.