Mandatory Traffic Insurance is a type of insurance that is regulated in the Highway Traffic Law No. 2918 and that every vehicle on the road has to take out. It has to be renewed every year. Traffic Insurance is a compulsory insurance that covers you for damages you may cause to other vehicles or third parties as a result of an accident.
Traffic Insurance is often confused with Motor Insurance. The difference of Traffic Insurance from Comprehensive Insurance is that it is not the car that took out the insurance; It is a mandatory insurance for the compensation of the damages of the damaged vehicle of the other party.
Within the scope of Traffic Insurance; If the insurer has caused death or injury to a person or damage to something during the operation of the motor vehicle defined in the policy, the legal liability of the operator is covered up to the compulsory insurance limits, according to the Highway Traffic Law.
In order to prevent or reduce the damage in an accident that occurs, the reasonable and compulsory expenses to be incurred by the policyholder are covered by the insurer.
What are Traffic Insurance Coverages?
Compulsory traffic insurance guarantees and limits are determined by the Undersecretariat of Treasury and are the same for all insurance companies. However, the price and payment terms differ according to the companies.
Within the scope of compulsory traffic insurance, some differences occur due to variables such as insurance guarantees and limits, model year of the vehicles and the profession of the license holder.
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