​The FSA has published the new RCA base rates, consumers’ guide to final car insurance prices over the next 6 months, and the good news is that there will be no more significant increases compared to previous years. Compared to spring, the largest increase is seen among people under 30 who drive low-powered cars, while a slight decrease is seen among 31-50-year-olds who drive high-powered or electric cars.

What is the RCA base rate and why is it important?

Reference rate at RCA this is not the selling price practiced by insurance companies, but only an estimate, calculated for class B0 and for a period of 12 months.

The tariff was calculated by the audit firm KPMG on the basis of a procurement contract initiated by the Financial Supervisory Authority (ASF) based on historical data for the last 5 years up to the reference date, i.e. the period from January 1, 2018 to December 31, 2022.

This means that the bankruptcy of Euroins and the RCA price cap, which is in place until the end of this year, are not taken into account. Details here.

Final price paid under RCA policy it depends on the driver’s damage history, the level of damage, the application of the bonus malus system, the city where the car is registered, and many other factors that are not taken into account when setting RCA base rates.

The RCA reference rate is important for high-risk policyholders.

By law, if you receive at least 3 RCA quotes from insurers with prices 36% higher than the RCA reference rate, this means you are considered a high-risk insured and you can apply to the Bureau of Motor Insurers (BAAR) for a lower price for car insurance.

• read: RCA price cap starting today: How to find out if you’re high risk so you can ask for a lower price

However, the base rate also serves as a benchmark for the rest of the drivers, as strong increases in this rate in recent years have automatically meant higher end RCA prices for millions of drivers.

Which drivers may pay more for RCA in the next 6 months

Unlike the RCA’s most recent comparative fares for February 2023, which saw some drivers increase by more than 40%, the new fares are marginally higher.

The RCA’s highest base rates still apply to car owners under 30 who drive cars with a cylinder capacity of over 2500cc. at the exchange rate of 4,709 lei published in February this year.

However, the biggest rate increase was recorded for drivers under the age of 30 who drive less powerful cars (<= 1,200 cmc), who now have a base rate of 1,939 lei, which is 6.4% more than in February when the base rate was 1,822 lei .

Which drivers could pay less than RCA. There are also discounts for carriers

Most of the RCA rates show moderate increases, below the percentage mentioned above, but unlike the rates announced in February, there are now also decreases, which we present below:

• for drivers aged 31-40 who drive cars over 2500 cubic meters. The same category of drivers driving electric cars has a base rate of 1,588 lei in December compared to 1,643 lei in February.
• Drivers aged 41-50 who drive cars over 2500 cubic meters. The same category of drivers driving electric cars has a basic RCA rate of 1,476 lei in December compared to 1,509 lei in February.
• drivers over 60 years old who drive cars with a volume of more than 2500 cubic meters.
• A decrease is also observed for legal entities with electric cars, where the base rate is now 2,586 lei compared to 2,736 lei in February, a decrease of 150 lei.
• and legal entities owning vehicles over 16 tons have a reference rate lower by 185 lei (-2.1%) in December, with a reference rate of 8,609 lei, compared to 8,794 lei in February.

RCA prices were frozen until the end of this year following the bankruptcy of Euroins

On October 5, the government decided to extend until the end of the year the RCA price cap, which was supposed to expire on October 10. “If we do not extend the restrictions, tariffs will increase in the most inappropriate period, during the winter holidays,” Prime Minister Marcel Čolaku said at the time.

This is after, in the context of the bankruptcy of Euroins, the government led by Nicolae Chuke decided to cap RCA prices at the level of base prices (B0) practiced by insurers on February 28, 2023, which are associated with a reduction or increase in price to the bonus-malus class, in which each insured is.

Prices were frozen starting on April 11, 2023, for 6 months ending on October 10, 2023.