Does car insurance include the premium?

Car insurance may be mandatory with financing, but it doesn't necessarily have to be included in the monthly payment.

Key points

• Sometimes it's paid annually, sometimes it's included in the financing offer, and sometimes it's financed separately.

• Ask for a breakdown of the financing payment, insurance, and other expenses, and find out if the insurance premium is subject to increase each year, because the bank payment alone doesn't reflect the full cost of owning a car.

The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.

Source

• Central Bank of Egypt — Consumer Protection

• Banque Misr — Auto Loan