According to what ANIA reports, the average premium of policies renewed before taxes increased between September 2023 and September 2024, from 326 to 344 euros (+5.5%), slowing down the rate of increase compared to December 2023 ( +6.2%)
For contracts registered in September 2024 by ANIAthe average RCA premium of renewed policies increased by 5.5% compared to September 2023 (from
326 to 344 euros), with an increase rate substantially in line with what was recorded
in March and June 2024 (+5.5% and +5.3% respectively), but slowing compared to
what was recorded in December 2023 (+6.2%).
The increase in the main items of the cost of claims According to Ania, due to the increase in inflation, this is the cause of the growth in the average RCA premium in the last two years. “Insurance companies – explains ANIA in its report – when determining the premiums to be applied to insureds – must consider in their estimates what the future trend of inflation will be, an exogenous factor which has a particular impact on the cost of claims. This process of estimating the tariffs, however, must be done well in advance of their entry into force and this implies a time lag between the historical data taken into consideration for the determination of the tariffs and the time period in which the tariffs themselves come into force. in force (quantifiable in 6-9 months). The time lag becomes all the more significant the higher the uncertainty of future inflation trends which, as happened in the last three years, recorded both a very sudden growth at the beginning of 2022 and an equally rapid decline in the last months of 2023 ”.
In approximately two and a half years, against a growth in general inflation of the cost of living of +15%, the cost of spare parts increased by +13.7%, personal injuries were revalued by more than 16%, while the average RCA premium grew by 11.0%).
Ania therefore underlines that the revision of the RCA rates, to date, have not yet fully included the increase in the cost of claims, both the component of damage to property and the component of personal injury.
If we also consider taxes (15.7%) and the contribution to the National Health Service (10.5%), which weigh on average 26.2% of the premium before taxes in 2024, the average RCA premium before taxes taxes went up from around 412 to 434 euro.
As for the carsthe average premium is increasing by 5.5%, going from 330 to 348 euros, that of motorcycles marked an increase of 9.5% (from 235 to 257 euros) and that of mopeds recorded a change of +6.4%, reaching 176 euros (it was 165 euros in September 2023).
On a historical level, from September 2012 to September 2022 the average premium went from 448 to 311 euros, with a reduction in absolute value of 138 euros and in percentage terms of
31%.
