The Consequences of Car Price Increases in Iran: Car Insurance Will Become More Expensive
According to the announcement by Iran’s Central Insurance, the official declaration of new car prices will lead to an increase in car insurance rates.
Majid Mashalchi, the spokesperson for Iran’s Central Insurance, has stated that this issue does not affect third-party insurance rates but does impact car insurance rates.
He also mentioned that, unlike third-party insurance, car insurance does not have a fixed rate and prices vary.
Recently, cars priced above 600 million tomans have been declared as unconventional, meaning that in the event of a total loss, the responsible party will only cover up to 600 million tomans.
In recent days, the prices of products from the two major car manufacturers have increased by 10 to 42 percent, with the announced prices being base prices not including additional costs.
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