There are currently no prerequisites for OCTA prices for rapid changes / day
He pointed out that last year in Latvia, the OCTA market did not grow compared to 2023, which means that the prices of MTPL vehicles have fallen slightly.
Abashin also noted that the price of an OCTA policy is always an individual issue, but in the future, in connection with the rise in the cost of living and the rise in customer requirements, prices are gradually increasing.
« Simply our standard of living is gradually approaching the average European level. How long it will be, in what segments, how fast it is fortune telling the coffee grounds, » said the leader of the association, while emphasizing that there is no prerequisite for the OCTA price to change rapidly.
According to the Latvian Association of Insurers, in 2024, the civil liability of land vehicle owners in Latvia, including a total of EUR 113.424 million, was signed in premiums of OCTA insurance, which is 3% less than in 2023.
At the same time, data from the Road Safety Directorate (CSDD) show that at the end of 2024 a total of 1.079 million vehicles were registered in Latvia, including 921,971 OCTA insurance. At the end of 2023, a total of 1.063 million vehicles were registered in Latvia, including 910 270 MTPL insurance.
