The Registration Tax will cause the price of cars to increase in 2021 as a consequence of the definitive settlement of the WLTP Cycle, but it will not be the only increase in the motor world. There is another rate that will affect those drivers who own a vehicle. The price of car insurance is going to go up and this is the reason.
If your car has been damaged by the storm Filomena: who should you claim?
At the beginning of December 2020, the General State Budgets were approved, in which there was a section dedicated to the Tax on Insurance Premiums (IPS), that will experience a rise of 2%. Until now it was 6%, but in 2021 it will grow to 8%: it will not affect all policies, but car insurance is not among the exceptions.
73% of families
According to the online comparator Acierto, this measure will affect 95% of the families who have taken out some type of insurance. If we focus on the policies in charge of protecting our cars, the percentage of victims stands at a 73%: they are households that have at least one vehicle.
And it is that according to the National Institute of Statistics (INE) there are more than 18 million families in our country and more than 34 million cars. Or what is the same: there are things with more unity that will especially notice this increase.
What will the climb be like?
The growth of the Tax on Insurance Premiums will affect all consumers equally and although everything will depend on the type of policy and its price, the aforementioned comparator has made an estimate to put this increase into practice.
Only in taxes, families will disburse, on average, about 7 euros more than in 2020: Taking into account that the average price of car insurance is around 340 euros, it is easy to do the math. Of course, some of them will also have to add the effect that Filomena has had since there has been a rebound in the number of accidents and claims have an upward influence on the price of car insurance.
How to cancel car insurance
Global figures
To this increase must be added that of home, life or health policies that will entail between 25 and 30 additional euros per year for families. A calculation to which it should be added that companies will also be affected by this rise, something that will affect the consumer.
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