| 16 April 2024, Tuesday |

Car insurance policy… Either dollar or no safety

A new equation imposed by the cycle of “dollarization” in Lebanon… After insurance companies charge the price of the car insurance policy in dollars or pounds according to the black market exchange rate, the citizen has two options, either the dollar currency or the car if he owns one or is still able to drive it!

Insurance companies attribute the dollarization of the sector to the increase in costs as a result of inflation, the rise in the dollar exchange rate, and the charging of car parts and repair bills in “fresh” dollars.

As for the percentage of demand for insurance, the citizen may be forced to choose between his security and safety and the high costs.

The problem remains, how can someone who receives a salary in Lebanese pounds pay in dollars… at a time when salaries have already lost more than half their value… Perhaps this is the case in Lebanon, where it’s either the dollar or no safety!

  • Sawt Beirut International