Speed above 10 km / h will be charged with the Malus point and will drive 10% more expensive third party liability next year. This was clear at a press conference of the Financial Supervision Commission, which explained the Bonus-Malus system.
A list of all violations affecting the cost of insurance can be found in a bill that is posted on the FSC's public hearing website. Malus points will be collected in a year. Thus, for five minimum speeds, for example, the policy will be 50% more expensive.
According to the FSC accounts, based on the statistics for the misdemeanors 2014-2017, it is expected that 18% of drivers, or 300,000 people, enter the "Malus" field and pay more.
The most expensive will be "Civil liability" for those who have caused serious accidents with human fatal consequences. According to FSC, this will affect about 0.6% of drivers in the country.
However, small offenses will not be charged as small points. The bus in major cities, inadequate parking or driving without front lights will not lead to increased civil liability, explained the Deputy Chairman of FSC Vladimir Savov, who heads the Insurance Supervision Department. The idea is to ensure the price increase for the most common disasters. The list of offenses is selected after analysis of the statistics, taking into account only the confirmed punitive decrees.
FSC is of the opinion that about 80% of drivers, or about 2 million people, will benefit from the bonus once the system comes into force. 44 percent will reduce their insurance by 25 percent. This will not happen from the first year, but after 7 years of driving without disturbances.
Car owners can receive the first bonus 1 year after the system enters into force. It will be 10% of the price of the policy. This can reduce the value of politics in the second year. In the coming years, the reduction will be 3-4%. Thus, for 7 years without violations, the owner will be able to get a full bonus of 25% less.
The clearing of the accumulated Malus will begin after one year of continuous driving. Thus, the biggest roads that pay 400% more expensive third party liability will return to the basic level after 12 years of driving, with a maximum bonus of 19 years without any injuries.
However, if a vehicle for which civil liability has been committed is a serious breach, the driver will pay more dear third-party liability, even if it is okay. And it will take years to clear the accumulated minorus.
This is also the most controversial text in the Decree – the burden of insurance is not the driver but the car.
FSC admits that some cars will become heavily sold if they are in the highest Malus class, because "Civil liability" will be about 1200 levs for them. However, the public interest will be protected, and traffic accidents in Bulgaria are expected to fall between 10 and 30%, as is European statistics.
Asked by Dir.bg for a 100% increase in mid-year mandatory policy, FSIS commented that this was a result of "economic factors and the need to ensure stability in the insurance market." According to them, thanksgiving has nothing to do with the Bonus-Malus system. Experts pointed out that insurers are now partially applying the system, and if we do not change the company, we get a lower cost of civil liability in case of unplanned driving and higher – in case of road injuries and compensation.
The regulator did not want to dedicate to the period when the system will work. On December 3, the National Palace of Culture will be the last public discussion on the proposed decree. Then, by the end of the year, FSC may adopt the text with the proposals made during the discussions. But the system will come into operation after many technical changes are made.
The decree was drafted by Ernst & Young consultant, the Ministry of Interior, the Ministry of Transport and the Financial Supervision Commission, choosing between 11 different options.