Over the next year, many auto insurance contracts will increase their prices. These refer to the proportion that is between 0.5 and 2%. An increase for comprehensive home insurance will also be planned. The increase will be between 1.5% and 4%.
An increase of 0.5 to 2% for auto insurance.
To win more customers, auto insurance operators have planned to improve their prices. In principle, 2021 saw a lot of customer exits compared to the previous year. There will be an increase in insurance prices by 2022. According to Cyrille Chartier-Kastler, founding president of Facts & Figures, old companies can rise as much as 2% by the following year. However, the uptrend in most cases will fall between 0.5 and 1%. In Addactis, the average increase will be 2% by 2022 if for this year it was 0.2%.
In the automotive sector, a deceleration phase in terms of prices is expected for the year 2022. However, the costs of repairs and spare parts are relatively high. According to the Auto Safety and Repair Association or SRA, replacement parts prices have been shown to be on the rise this year. In fact, a damaged mirror costs from 780 euros.
Regarding home insurance, the rise is from 1.5% to 3.5%
In 2022, home insurance contracts will evolve optimizing prices. According to the assumptions of Facts & Figures, the increase in home insurance can increase between 1 and 1.5% for all contracts already signed. This increase affects all contracts with an average amount of 270 euros. According to Fabien Soccio, this increase is still considered moderate. An equivalent change in the average increase in 2020 will be observed by the year 2022. However, Addactis highlights a considerable increase of 3.5%.
In other words, the increase in home insurance is explained by climatic risks, which are currently constantly increasing. In fact, natural disasters cost almost a billion euros a year. Thus, in recent years an increase of almost 2% per year in the home insurance premium has been observed.