Auto and home insurance prices will increase in 2023. Insurers are indeed seeing an explosion in repair costs linked to claims;
reports the magazine 60 Million consumers.
In question: “the inflation of materials and replacement parts”, indicated Florence Lustman, the president of France Assureurs, at the end of a meeting with Bruno Le Maire organized at the end of September.
Auto insurance rates will increase by 3 to 5% in 2023, according to projections by the specialized firm Facts & Figures.
This general increase is explained by more expensive spare parts and labour.
The cost of a rear-view mirror, for example, jumped 8% in 2022. Owners of SUVs or hybrid and electric vehicles will be harder hit, as these vehicles are more expensive to repair.
#Auto and home insurance: what increases should we expect in 2023?
How do professionals justify them?https://t.co/Nx8T3xmTmR@LionelMaugain @FranceAssureurs pic.twitter.com/74Ty5VEB1d
— 60 Million consumers (@60million) October 6, 2022
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The fear of new natural disasters
Regarding multi-risk home insurance, contracts should increase by at least 3%.
Climatic events are the cause of many claims.
Floods, hailstorms, storms and fires cause damage to homes, says the consumer association.
Insurers must absorb an increase in the cost of claims ranging from 1 to 2 billion per year.
They must also take into account the increase in the price of certain building materials (wooden structures, terracotta tiles or glazing and mirrors), as well as labour.
Received at the Ministry of the Economy, the insurers promised that the increase would be lower than inflation in 2023, or rather its projection.
Consolation for unemployed young people: they will be entitled to a discount of 100 euros on their car insurance.
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