The cost of insurance renewals for vehicles will go up by 100 to 300 percent as of March, reports El Caribe newspaper today. Resolution 10-02 of the Superintendence of Insurance says that the plan is to increase the coverage to third parties suffering collisions. For instance, insurance on a motorcycle that previously cost RD$210 will now cost RD$690. The minimum insurance required by law for private cars will go up from RD$700 to RD$2,000.
\nRafael Santos Badia of the Superintendence of Insurance says that individuals suffering collisions will benefit from the increased coverage. According to Santos, a person who could only claim RD$2,000 for a motorcycle accident can now receive up to RD$50,000. Likewise, a third party affected by a vehicular collision could claim damages up to RD$100,000, up from RD$3,000 in the past.<\/p>\n","protected":false},"excerpt":{"rendered":"
The cost of insurance renewals for vehicles will go up by 100 to 300 percent as of March, reports El Caribe newspaper today. Resolution 10-02 of the Superintendence of Insurance says that the plan is to increase the coverage to third parties suffering collisions. For instance, insurance on a motorcycle that previously cost RD$210 will … <\/p>\n