BUSINESS

Insurers keep reducing rates for car policies

EVGENIA TZORTZI

TAGS: Economy

The insurance market is reducing car premiums, continuing a policy of price cuts that has led to a considerable decline in average rates over the last few years, according to figures from the Hellenic Association of Insurance Companies.

The figures show that the turnover of the car insurance sector in the year to end-August amounted to 485.9 million euros, almost the same level as last year, despite the considerable increase in the number of insured vehicles: The latter rose from 5.8 million at end-March to 6.2 million in the summer, due to a state probe into uninsured cars in June.

However, turnover remains the same because insurers are still reducing their prices.

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