The scope of the obligatory insurance is a little bit over 60%
The number of registered motorcars having valid MTPL policies as at October 31st 2005 is equal to 1 695 720, show figures provided to INSURANCE.BG by the Guarantee Fund. There is an
increase by 15.2% as compared with March 31st 2005. According to information from Traffic Police, motorcars in operation as at September 30th 2005 are 2 822 817. This means that the scope
of the obligatory insurance is approximately 60.07%.
Data show that there was in May a certain ‘rise’ in the number of registered cars having insurance policies, that increase being of 5.43% as compared with April. This is a result of the imposing of
the stickers as from June 1st and of Traffic Police’s repeated warnings of the initiation an overall control campaign. The next significant increase in the number of cars with valid obligatory
insurance policy was in August – by 4,63%. This was considered to be connected with the summer holidays and leaves and the related long-distance trips, when there is higher probability of a Traffic
Police check-up. It is interesting that 2/3 of the policies issued as at October 31st are annual. According to Guarantee Fund’s figures their number is equal to 1 117 657 which means an
increase by 7.43% as compared with March. That is a steady increase – by approximately 1% monthly – and here we do not see any drastic rises.
The second most popular insurance policies amongst Bulgarians are those with a three-month coverage. As at October 31st 2005 they number 340 781. What is curious here is that their numbers are
almost the same over the whole period and only at certain moments we can see slight decreases.
Similar interest generate insurances with six- and nine-month coverage. As at October 31st six-month policies number 85 525 and nine-month policies – 85 305. There was a slight ‘boom’ in
the sale of six-month policies in June - by 32.95%. Insurance policies with nine-month coverage have registered most considerable increase– approximately six times. Such ‘booms’ were registered
also in April when there is a rise by 315.34% as compared with March and in June (increase by 190.93% as compared with April). It is due the fact that many people do not drive their cars in winter
time and take advantage of the opportunity not to conclude insurance contract for these periods.
Lowest are sales of insurance policies with other terms of coverage. Their number as at October 31st is 66 452 – increase by 295.87% as compared with March 31st. Such insurances take out
mostly motorcar importers.
