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Auto, home, health… no contract was spared from rate increases in 2022, following the same trend as over the past ten years. Result: the price of contributions soars.
Each year, households that are insured for their car, for their accommodation or for their health costs must pay a little more for their protection. Between 2010 and 2020, these increases reached from +16 to +40%, enough to seriously undermine the purchasing power of the French. Why are increases increasing? What are the prospects for the coming years? What are the most expensive insurance contracts? The answers.
+16% for car insurance contracts
Insuring a vehicle in 2022 represents a substantial budget. What’s more, most insurance contracts have seen their prices increase, even though they had already increased by +16% according to data collected by Assurland over the period from 2010 to 2020. A paradox when one considers knows that the number of bodily accidents is falling sharply, with -33% recorded over the same years. However, the amount of premiums paid by insurers is up by +5.7% according to data from France Assureurs, and this for a very simple reason: the price of vehicles is higher and higher, with options and more advanced technologies, which impacts the cost of repairs in the event of an accident. To cope with this phenomenon, insurers therefore increase the price of auto insurance premiums accordingly.
Towards an explosion of home insurance prices?
With an increase of +33% in just 10 years, home insurance is becoming more and more expensive for owners and tenants. Here, it is the weight of claims related to natural disasters that weighs in the balance and forces insurance companies to review their copy every year. Fires, floods, storms… climatic hazards are more and more frequent and more and more violent. With this in mind, the Catnat tax, which feeds the guarantee fund for natural disasters, should see its rate increase from 12 to 18% in 2025. However, for some experts in the sector, this would only be the start: the Prudential Supervisory and Resolution Authority (ACPR) predicts an explosion in prices within 30 years, with increases of between 130 and 200% for all home insurance contracts.
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The prize for price increases goes to mutual health insurance
In terms of tariff increases, mutual health insurance is unbeatable. Between 2010 and 2020, their prices have increased by nearly 40%, much more than car or home insurance premiums. Already representing a substantial budget for most households, health insurance is therefore increasingly expensive, for two distinct reasons. The first is linked to the demographic evolution of the population: the French are living longer and longer, leading to an increase in costs related to care and health in general. The second factor which implies an increase in the tariffs of mutual insurance companies is that of the evolution of technologies in the medical world. With more efficient devices and increasingly advanced techniques, mutuals must agree to higher reimbursements, which has a direct impact on their pricing policy. The online insurance comparator Assurland concludes as follows: “These two factors combined lead to a mechanical and inevitable increase in the price of mutual insurance each year”.