According to a study by Assurland, the amount of car insurance premiums should remain stable in 2022 before starting a slight decline, but it had increased by 16% between 2010 and 2020 despite a reduction in the number of bodily accidents.
A new study published by the insurance comparator Assurland predicts stability in the amount of car insurance premiums in 2022. It is therefore consistent with previous work. But it also shows, based on the IPAP (Personal Insurance Price Index) and the analysis of 6 million insurance contracts, that the amount of premiums increased by 16% between 2010 and 2020the year since which the pandemic has been reshuffling the cards.
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Fewer accidents, but they are more expensive
During the 2010s, although bodily accidents have decreased by 33% in ten years, their cost for insurance has increased by 5.7% per year. The price of certain increasingly complex spare parts, such as LED lights, is no stranger to this increase. Despite the entry into force of the Hamon law in 2015, thanks to which it is possible to terminate your car insurance contract free of charge at any time after the first year, the increase in the amount of premiums exceeded inflation during the second half of the decade. “However, this regulation begins to show its effects ” and ” insurers attract new customers with attractive commercial offers according to Assurland.“ The organization also recalls the freezing of the rates charged by certain insurance companies in 2021, which continues for some of them in 2022, following the confinements having led to a drastic drop in the number of claims.
A slight drop in premiums to be expected
Like others before them, this study points to lower auto insurance rates for years to come. The use of reused spare parts, authorized since 2017, is gradually developing, and in 2023, at the end of a long soap opera, car manufacturers will lose their monopoly on visible spare parts. This opening up to competition should drive the prices of these components down. But useless to hope for a drastic drop in premiums. ” Auto insurance is a loss leader that realizes little margin “says Assurland. Note also that it is far from being the one that has increased the most in recent years. According to the same publication, between 2010 and 2020, home insurance has taken 33% and health insurance has increased by 39%.
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