As inflation continues to cause prices to rise sharply, insurance companies yesterday vowed not to significantly increase premium prices, particularly on motor insurance. The announcement was made in the presence of the Minister of Economy, Bruno Le Maire, who made public contours of anti-inflationary packaging.
🔴 LIVE | Press office of Fr @brunolemaire and Florence Lustman, President of France Assureurs at the end of a working meeting with representatives of the insurance and mutual insurance sectors 👇 https://t.co/C8ihR3efT3
– Ministry of Economy and Finance (@Economie_Gouv) September 20, 2022
Before increasing the premium below the level of inflation
The first good news for household purchasing power, insurance premiums will not increase as much as inflation. In recent weeks, there have been several rumors about a possible explosion in insurance rates on January 1, 2023. This will not happen. In particular, Bruno Le Maire “I am pleased that insurers have committed to keeping average premiums below inflation in 2022 and 2023”.
If the anti-inflation package will limit the growth of auto insurance premiums, it should be borne in mind that the latter will still grow. By the end of the year, inflation will be about 5%.. This therefore leaves considerable margin for insurers to increase certain motor contracts while remaining below the 5% mark.
Anti-inflation package, €100 check for unemployed young people
This is another good news from the announcements made yesterday during the presentation of the anti-inflation package. The creation of material assistance for unemployed youth. This financial assistance is intended to pay for car insurance. Specifically everything youth up to 25 years old who will be unemployed, will be able to use a a check for 100 euros. Bruno Le Maire also suggested that insurance companies provide other help for the most vulnerable. The Minister of Economy hopes that there will be other proposals as well. in the next few days or in the next few weeks”. In particular, the freezing of auto insurance premiums for less well-off families.
Now it remains for the government to agree on the prices on the motorway for 2023. Because they are also designed for inflation.
Source: Auto Plus
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