​A decision to freeze RCA prices for 6 months at the level of 28 February 2023 will be adopted by the Government on Wednesday to calm the situation in the context of the bankruptcy of Euroins, but the solution devised by the ASF has many flaws. and some drivers will pay more for car insurance, according to data from brokers consulted by HotNews.ro.

After being accused of “bribery” by insurance professionals when she proposed capping RCA prices on March 1, 2022 or March 1, 2023, depending on when insurers charged the lowest price, the measure cannot be implemented as it would effectively compare apples with pears and different tariffs according to the structure, the Financial Inspectorate withdrew the draft Government Resolution.

Under pressure at the political level, the ASF quickly revised the draft GD and the new form is on the government’s desk on Wednesday.

• SEE DRAFT HG AND KEYNOTE

How does ASF justify freezing RCA prices at the level of February 28, 2023

RCA prices will be capped at their own premium rates charged by each RCA insurer on 28 February 2023, and ASF’s reasoning was that on average these rates would be lower than the base rates published on 7 March 2023 for most categories. vehicles.

• “The average RCA premium written by FSA-authorized and regulated insurers in February 2023, the last month ending on the date of submission of the draft regulation, for 12-month policies converted to bonus-malus Class B0 is below baseline RCA rate published by ASF on 7 March 2023 for most vehicle categories.”, shown in the justification of the project of the GD.

We remind you that the RCA reference rates are not actual sales prices, but are only indicative for consumers, as they refer to the B0 (basic) bonus-malus class.

These reference rates are based on historical data for the past 5 years and are calculated every 6 months by an auditing firm selected through the ASF tender.

The results of the calculations were subsequently published on the ASF website: February 2022; August 2022 and the latest for February 2023, which were published by the ASF on March 7.

RCA cap ‘poisoned apple’: some drivers will pay more than base rates from March this year and more than last year

To understand what prices we will pay in RCA in the next 6 months, if the government approves this project, HotNews.ro asked insurance brokers to compare the offers with the final prices from RCA insurers for different categories of insured.

We analyzed 8 price offers made from February 27 to 28, 2023 for various insured persons, individuals and legal entities, who have class B0 (which is the easiest to compare with basic rates), as well as from the best bonus classes from several settlements in the country .

The following data shows that in many cases the capped prices for February 28, 2023 are higher than the base rates from March 2023, especially when talking about Bucharest, where insurers practice higher prices due to a higher frequency of claims.

1. Male, 50 years old, Cluj, with BMW X3: RCA is more expensive than the base rate from March 2023

A man (50 years old), from a locality in the district of Cluj, with a class B0 and a car with a cylinder capacity of 1995 cmc, received on February 27, 2023 RCA offers for 12 months from: 1341 lei (Euro) to 3073 lei (Omniasig) .

With the exception of Euroins, whose operating permit was withdrawn on March 17, the lowest price for RCA was at Groupama – 1,456 lei.

The estimated RCA rate announced by ASF on March 7, 2023 for the category to which this person falls, i.e. age 41-50 years with a car with a cylinder capacity of 1801-2000 cmc, is 1445 lei.

In August 2022, the RCA reference rate for this category was 1261 lei, and in February 2022 – 1140 lei.

• conclusion: Someone in a similar situation will pay RCA over the next 6 months more than the base rate published by the ASF on 7 March 2023, and the difference is even greater compared to what they would have paid last year.

2. A company from Vranch with a Mercedez-Benz truck weighing more than 6 tons: RCA costs almost twice as much as the base rate

Mercedez-Benz truck owned by the company, from the area of ​​Vranca district, weighing more than 6 tons, class B0, received on February 27, 2023 RCA offers for 12 months from: 5193 lei (Grawe) to 27 662 lei (Hellas NextIns Pro) . The RCA price offered by Euroins was 19,549 lei.

The estimated RCA rate announced by ASF on March 7, 2023 for vehicles carrying goods (from 3.5 to 7.5 tons) is 3,181 lei.

In August 2022, the RCA reference rate for this category was 2777 lei, and in February 2022 – 2551 lei.

• conclusion: The cheapest RCA for this truck is almost double the March 2023 base rate and much more expensive than the 2022 base rate.

3. Young man, 21 years old, from Yass, with a Hyundai I20: The cheapest RCA is more than 200 lei more than the base rate.

A young man, 21 years old, from a city in the county of Iasi, class B0, has a 2016 Hyundai I20 with a cylinder volume of 1248 cmc, received on February 28, 2023 RCA offers for 12 months from: 2146 lei (Groupama) and 4239 lei (Omniasig). At Euroins, the offer was 3929 lei.

The estimated RCA rate announced by ASF on March 7, 2023 for people under 30 years old driving 1201-1400 cmc cars is 1931 lei.

In August 2022, the RCA reference rate for this category was 1631 lei, and in February 2022 – 1335 lei.

• conclusion: The cheapest RCA for such a driver will be 200 lei more expensive than the basic RCA tariff this year. The difference is even greater compared to last year’s prices.

4. Man, 42 years old, from Galati, with a BMW 320D: RCA is 450 lei more expensive than the base rate

A man (42 years old) from a locality in Galaţi County, with a BMW 320D with a capacity of 1995 cmc, received 12-month offers on February 28, 2023 at RCA at the prices: 1853 lei (Euro) / 1902 lei Groupama and a maximum of 3260 lei at Omniasig.

The estimated RCA rate announced by the ASF on March 7, 2023 is 1,445 lei for people aged 41-50 who drive cars with a cylinder capacity of 1,801-2,000 cm3.

In August 2022, the RCA reference rate for this category was 1261 lei, and in February 2022 – 1140 lei.

• conclusion: The cheapest RCA that a driver with such a car will receive will be 1,902 lei, which is 450 lei more than the last base rate announced by ASF.

5. Male, 35 years old, from Prahov, with a VW Kombi: RCA is 511 lei cheaper than the reference.

A man (35 years old), from the area of ​​Prahov, in the bonus class B0, with a Volkswagen Kombi 1968 cu.

The estimated RCA rate announced by the ASF on March 7, 2023 is 1,481 lei for people aged 31 to 40 who own cars with a cylinder capacity of 1,801 to 2,000 cc.

In August 2022, the RCA reference rate for this category was 1,297 lei, while in February 2022 it was 1,159 lei.

• conclusion: Someone in a similar situation would pay 511 lei less for RCA than the base rate published by ASF on March 7.

6. Woman, 47 years old, from Bucharest, on Hyundai Accent: RCA for B1 is more expensive by almost 450 lei.

We also took examples of drivers who have a bonus class other than B0. So, a woman (47 years old) from Bucharest, bonus class B1, with a Hyundai Accent 1341 cc car, on February 28, 2023, received 12-month offers from 1,499 lei (Hellada) to 2,792 lei (Euros) at RCA.

If at the lowest RCA price – 1499 lei – we reduce the 5% discount associated with class B1, we get a price of 1577 lei, which corresponds to class B0.

The estimated RCA rate announced by ASF on March 7, 2023 for class B0 is 1,129 lei for people aged 41-50 who own cars with a volume of 1,201-1,400 cc.

• conclusion: The lowest RCA price offered by insurers in this case is almost 450 lei higher than the base rate published by ASF.

7. Male, 36, from Bucharest, VW Passat: RCA with 30% discount on B6 is equal to ASF base rate

A 36-year-old man from Bucharest, in bonus class B6, with a Volkswagen Passat 1968 cmc, received on February 28 RCA prices for 12 months from 1,480 lei (Grawe) to 2,981 lei (Euros).

Being in class B6 means that it received a 30% discount from the base price of the RCA policy (B0), so if we removed this discount, we would reach a price of 2,114 lei for class B0.

The estimated RCA rate announced by ASF on March 7, 2023 is 1481 lei for class B0 for this category of people aged 31-40 with cars 1801-2000 cmc.

• conclusion: The lowest RCA price offered by the insurers in this case, in which a 30% discount was applied for the B6 driver bonus class, is at the same level as the ASF base rate, which, however, is designed for B0 without any discount price.

8. Male, 55, from Bucharest, with VW Passat: what is the cheapest RCA with 50% discount on B8

Another case concerns a 55-year-old man from Bucharest who belongs to the maximum bonus class B8, so he should receive a 50% discount from the base rate.

This man, who has a Volkswagen Passat with a displacement of 1896 cc, received RCA offers on 28 February 2023 for 12 months starting at 880 lei (Euroin) / 1113 lei (Grawe) and a maximum of 1912 lei at Allianz.

Excluding Euroins, which left the market, the cheapest offer remains at 1,113 lei. If we exclude from this price the 50% discount associated with the B8 class, we get a base price (B0) of 2,226 lei, which is much higher than the ASF base rate.

The estimated RCA rate announced by the ASF on March 7, 2023, which belongs to class B0, is 1,410 lei for people aged 51-60 years driving 1,801-2,000cc cars.

• conclusion: The cheapest RCA with a 50% discount for B8 is almost 300 lei lower than the ASF base fare, noting that the latter does not have a discount because it is a base fare belonging to the B0 class.

Read more also:

• RCA price cap scandal: Insurance brokers allege discrimination by insurance companies
• RCA prices to be capped for 6 months at February 28, 2023 / How ASF motivates new HG project – DOCUMENT
• Bankruptcy of Euroins: ASF withdrew price cap project in RCA / Explanation of ASF / Statement of Prime Minister Chuke
• – This is a nightmare! Insurance against RCA maximum rates and what they mean for drivers
• RCA price cap: Insurers warn Câciu it will breach EU law and further impact market hit by 4 major bankruptcies