ESTONIA: Almost half a million price comparisons have been made in the motor insurance online calculator

1 October 2024 — Marina MAGNAVAL
This year, over 450,000 motor insurance price comparisons have been made via online calculator of the Estonian Traffic Insurance Fund (LKF). As of July 1, 2024, 882,000 motor insurance contracts were valid in Estonia, with an average annual premium of EUR 151.

According to the amendment to the Road Insurance Act that entered into force on July 15, LKF is obliged to maintain an insurance price comparison calculator www.lkf.ee/kalkulaator.

"The calculator provides an overview of motor insurance prices from one month to a year in a matter of seconds. As the price difference can appear a couple of times, a vehicle owner gets a good idea of ​​which insurer might be the best for them", said Mart Jesse, Chairman of the board of LKF.

Jesse emphasized that vehicle owners should not choose motor insurance based only on the cheapest price. "Several insurers offer additional services with motor insurance, such as car assistance or towing services in the event of a traffic accident. So, it's worth taking your time and choosing the most suitable one for you", he said.

"In order to better protect the interests of vehicle owners, managing the calculator is the responsibility of LKF since the amendments to the Road Insurance Act come into force. Over the years, the question of whether such a comparison calculator is legal and necessary was repeatedly raised, and attempts were made to shut it down", explained the Chairman of the board of LKF. According to Jesse, the online motor insurance calculator is necessary so that customers can make an informed choice when signing contracts.



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