(Telestock) – Car insurance is increasingly expensive and, among the most important increases there is also the Capital, while the premium differential between the North and the South of Italy is also widening. This is what emerges from the latest monitoring by IVASS on the prices of compulsory insurance on motor circulation, which has raised a chorus of protests from consumer associations.
Progressive increases throughout Italy
For contracts signed in May 2024, the survey finds that the average price it was 400 eurosincreasing on a year-on-year basis by +6.8% in nominal terms and +6% in real terms. The increase follows the equally significant one in the month of Aprilwhich recorded an annual nominal growth of +7.9%. For insured members of merit classes higher than the firstthe price increase is equal at 11%.
All Italian provinces are recording price increases, ranging between +1.7% of Vibo Valentia and the +10% of Prato and Rome. It is also expanding the premium differential between Naples and Aostastanding at 264 euros (+8.1%)although it maintains a reduction of 45.1% compared to the same period in 2014.
“Unjustified increase”reports theNational Consumers Unionadding that “this is a lunar increase, which certainly does not depend on inflation, given that premiums are rising by 6% in real terms”https://www.Finance.it/DettaglioNews/181_2024-07-04_TLB/.”We ask Ivass to improve the public comparator Preventivass which, unlike the previous one, is limited to comparing the estimates referring only to the basic car insurance contract, without the possibility of adding other coverages, such as theft, fire, atmospheric events, thus making the comparison useless”, explains the President of UNC Massimiliano Dona.
“Car insurance rates continue to rise despite the improvement in the economic accounts of insurance companies and the increase in their profitability, and in two years the increases in policy prices have determined a overall blow of +1.5 billion of euros for Italian motorists”, underlines the Codaconswho recalls that “in just over two years, car insurance rates have seen an overall increase of 13.3%”, “increases which they do not appear justified by the increase in accidents in Italy, and which clash with the economic situation of insurance companies for which the capital base has consolidated, profitability has improved and liquidity has become more relaxed”.
“On the one hand, insurance companies are increasingly richer, on the other, they are increasingly less fined by Ivass”, he reports Assoutentiwhich recalls some interesting data from the latest Ivass report for 2023: the operating result of the sector rose to 8 billion euros, with abnormally growing profits of +249% compared to the previous year, while they were only 130 measures handled by the Supervisory Authority against insurance companies and intermediaries, of which 56 concluded with pecuniary sanctions, 50 non-pecuniary sanctions and 24 with archiving. The pecuniary sanctions imposed amount to 7 million euros, just 0.0875% of the profits collected by insurance companies.
Highlighting the big differences at territorial levelAssoutenti also draws up a ranking: Naples and Pratowith an average price of 580 euros, are confirmed as the Italian provinces where car insurance is It costs morefollowed by Caserta (515 euros) and Pistoia (503 euros). On the opposite side of the ranking is placed Ennathe most affordable city with an average of 285 euros, followed by Power with 296 euros. However, if we consider the annual percentage increaseI am Rome and Prato cities with policies more expensiveup 10% on May 2023, followed by Nuoro (+9.8%) and Biella (+9.2%). The slightest increases in Vibo Valentia (+1.7%) and Cosenza (+3%).
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