According to statistics from the Estonian Motor Insurance Fund (LKF), in the first half of this year, 15,800 motor insurance claims were registered in Estonia with a total loss of EUR 34.7 million, which is 9% less y-o-y.

According to the Fund, in the reporting period the average annual motor insurance premium was EUR 140, which is 6% less than in the same period last year.

According to Andres Piirsalu, a member of the LKF board, the decrease in traffic accidents and the decrease in the price of motor insurance are logically related. “Since there is fierce competition on the motor insurance market, despite the general increase in prices and inflation in Estonia, it is clear that the price of motor insurance will decrease if there are fewer insured claims”, explained the member of the LKF board.

According to Piirsalu, the decrease in the number of motor insurance claims is more a reflection of the impact of the economic downturn than an improvement in road safety. “This year, almost the same amount of motor insurance is being provided as last year, but the volume of insurance premiums is declining. Therefore, it can be stated that due to the difficult situation in the economy, people are driving less and therefore accidents occur less frequently. The mild winter also contributed to the decrease in the number of traffic accidents”, added Piirsalu.

In addition, 1,015 traffic insurance cases involving Estonian vehicles occurred abroad with a total loss of EUR 5.3 million, the Fund said.