Auto insurance premiums to be hiked by average of 13.5%

TOKYO —

The Financial Services Agency plans to increase premiums for Japan’s mandatory vehicle insurance by an average of 13.5% from April 1.

According to the agency, a premium cut in 2008 and a recent increase in insurance payouts has prompted the price increase, Sankei Shimbun reported Friday. The average premium for a family car on a two-year contract will rise from 24,950 yen to 27,840 yen, an 11.6% increase. Motorbike insurance premiums are also set to increase. Premiums for minivehicles with engines no larger than 660 cc will be hiked by 4,400 yen to 26,370 yen.

Japan Today

  • 0

    Disillusioned

    Ah, more cash for the coffers!

  • 1

    pumpkin31526

    This is one of the most expensive countries to own a car that I ever lived in....and now it just got more expensive.

  • 0

    stephen424

    car insurance is way cheaper than the USA, but everything else car related are goddamn expensive..ie...Shaken, highway tolls, parking, gas, etc...

  • 0

    nandakandamanda

    There are two sections to your car insurance, based on firstly the hidden mandatory insurance that every car itself has to have even before you go out and buy regular insurance.

    It is this first basic level that they are talking about hiking. Many drivers do not bother to insure their cars, so that basic level is having to carry more and more weight. Generally I have been impressed with how they have kept insurance premiums level in Japan over the years. In the UK car insurance has been totally out of control with absurd rises to cover the costs of others' thievery and fraud. A rise like this in Japan is not too bad once in a while, comparatively speaking.

  • 0

    waltery

    Show me the books. The cost of keeping all those fat cats and there lifetime benifits for being in the club.

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