BUSINESS

Threat of fines makes more drivers insure their vehicles

TAGS: Economy

Motorists’ fear of being caught out and fined by the Independent Authority for Public Revenue has led to an increase in the number of insured vehicles, according to data from the Hellenic Association of Insurance Companies (EAEE).

In the first two months of the year the amount paid in premiums for third-party insurance expanded 3.1 percent on annual basis, reaching to 119.2 million euros.

There was also an 8 percent annual increase in supplementary coverage (from fire, theft etc), to 31.8 million euros, raising the total amount that motorists paid for insurance to 151 million euros in the year to end-February.

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