a moderate price increase… until 2023?

Assurances : une hausse tarifaire modérée… jusqu’en2023 ?

How much will auto and home insurance prices rise in the coming years? A new study by the consulting firm Facts & Figures suggests a lull in 2022. However, the storm would not be far away. Climate risk, cost of repairs: 2023 could be synonymous with price explosions for the sector.


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Auto and home insurance: what price increase in 2022?

Every year, as consumers know, you have to prepare for rising insurance prices. In 2020, this phenomenon has been the subject of many discussions, in particular concerning the impact of the Covid-19 pandemic on the sector. The debates focused in particular on car insurance and home insurance, which due to health measures have seen their activity completely turned upside down.

However, when it comes to the rise in tariffs, nothing has really changed. Apart from a few actions taken by some auto insurers due to the decline in claims in 2020 and 2021, consumers once again had to add additional expenses for their insurance protection. Although limited, an overall increase was noted this year.

The question is therefore not so much whether insurance rates will increase each year, but by how much. What to expect in the future? According to a recent study by the consulting firm Facts & Figures, relayed by Capitalthe year 2022 should be mild.

In effect, for auto and home insurance, the increase should be moderate. The decline in general claims (road accidents and burglaries) could still benefit consumers for a few months.

However, nothing to rejoice for long. Because in 2023, insurers could well pass on the increasing costs they are incurring. For the insured, the price of insurance is likely to explode.

In 2022, auto insurance rate increases are expected to be between 0.5% and 1%and that of home insurance between 1% and 1.5%.

Insurance: towards a sharp rise in prices in 2023?

According to Facts & Figures, rising home insurance prices and car insurance in 2023 would thus be significant. Two central reasons for this phenomenon:

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What impact do successive drought episodes have on home insurance?
  • The increasingly expensive cost of auto repairs ;
  • The numerous climatic disasters, and more particularly the recurrent drought episodes.

In terms of car protection, repairs to recent vehicles are expensive. Electric cars and the latest generation SUVs are now part of the French car fleet, and their volume continues to grow. When supported, these vehicles involve more expenses for insurers. Facts & Figures estimate an increase in car insurance rates of between 2% and 3% from 2023.

In terms of home protection, we must turn to global warming and its devastating consequences. Between 2016 and 2021, natural disasters cost insurers 2.4 times more between 2011 and 2015 (figures from the Caisse centrale de réassurance). The increase in drought episodes would also be to blame, since they would cost insurers more than a billion euros a year, indicates Capital. ” As in cars, an acceleration in the rate increase dynamics in housing is highly likely by the 2023 deadline. “, adds Facts & Figures, without revealing the percentage of this increase.

Despite this discouraging information for consumers, the rise in insurance prices is not inevitable. The market is very dynamic, particularly thanks to the arrival of new 100% online players. So don’t hesitate, play the competition. In car insurance and home insurance, you can terminate your contract at any time, without cause and without charge.

Need to find the cheapest auto insurance?Selectra accompanies you thanks to its car insurance comparator. In 5 minutes, you’re done! Request a quote online or call us 01 82 88 99 88.

Enjoy 3 months free i.e. an exceptional discount of 25% the first year !

📝 Enjoy it

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