Motorcycles are used most actively during certain months of the year, and it is precisely then that the risk of accidents and the resulting damage are concentrated. This seasonality must be taken into account when determining premiums for short-term MTPL insurance policies, so as to guarantee compensation for innocent victims on the road, commented Prof. Dr. Stoyan Prodanov, representative of the Bulgarian Insurance Association (ABZ), on an interview with bTV, regarding the amendments to the Insurance Code adopted by parliament, which require insurers to offer MTPL for a period shorter than one year for certain categories of vehicles, including motorcycles.
Statistics show the highest number of damages precisely during the months when motorcycle riding is concentrated. With the amendments, the impact of these damages must be distributed across the policies so that the social function of MTPL operates without problems, and there is public consensus on this, said Prof. Stoyan Prodanov.
The amendments to the Insurance Code, adopted by parliament on October 15, require insurers to offer short-term MTPL policies for certain categories of vehicles, including motorcycles, campers, camping trailers, and self-propelled machines. The goal is for owners to be able to purchase insurance for the periods during which they actually use their vehicles, instead of being required to do so for the entire year.
"We are convinced that vehicle owners will demonstrate the necessary responsibility so as not to drive without MTPL", said Prof. Stoyan Prodanov.
He also pointed out the consequences of driving a vehicle without compulsory insurance. In such cases, the damages are covered by the Guaranty Fund, and the funds in it are collected from the premiums of all purchased insurance policies. "In other words, all users of the insurance service will be paying for the one who drove without insurance", noted Prof. Stoyan Prodanov.
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