Car liability, hit last November: +7.1%

For Ivass the average cost for each motorist is 391 euros

For car liability contracts, signed in November 2023, the average price is 391 euros up 7.1% year-on-year in real terms (7.8% in nominal terms). This is what emerges from the survey on the actual prices for the insurance guarantee, communicated by Ivass. The average price level is still lower than the figure observed in the pre-pandemic period (403 euros in November 2019).

The provinces recorded price increases of between +4.6% (Ascoli) and +12% (Imola). The premium differential between Naples and Aosta is 248 euros, an increase compared to the previous year (+3.1%). Insured persons, assigned to merit classes higher than the first, recorded a higher price increase (+11%) compared to the national average.

Consumers on the warpath

”The surge in car insurance rates determines a maxi-punch of over 1 billion euros on an annual basis to be paid by Italian motorists” says Codacons, commenting on the new insurance data provided today by Ivass. “If we consider that in Italy, based on the latest data provided by Ivass, there are 43 million insured vehicles in circulation, of which 32.5 million are cars, the blow to motor liability insurance compared to the average prices of 2022 reaches the maximum figure of 1,007,500,000 euros only for the category of motorists.” “A few days ago we included the car liability item in the Codacons study on the shock that awaits consumers in 2024, and today the Ivass numbers fully certify our alarm”, explains the president, Carlo Rienzi. The Meloni government ”must intervene to limit the excessive power of insurance companies and slow down the escalation of tariffs in the sector, especially considering the fact that citizens have the obligation to insure their cars, while insurance companies must not submit to no tariff limit”, concludes Rienzi.

The increases in car insurance, recorded in November, says Assoutenti, translate into a higher expense of +31 euros per policy compared to the average rates for 2022, and unfortunately they fully confirm our forecasts regarding the trend of insurance rates. “In unsuspecting times last year we predicted that car insurance rates would undergo substantial increases during 2023, and Ivass data unfortunately proves us right”, explains the honorary president Furio Truzzi. ”Completely unjustified increases which do not respond either to an increase in costs for insurance companies, nor to an increase in accident rates, but are due solely to too many anomalies in the insurance sector, where companies dictate the law by imposing illicit clauses on their customers who drive up prices.”

On the territorial front, Naples and Prato are the provinces that record the highest cost of the car insurance policy, with an average of over 559 euros, followed by Caserta (501 euros) and Pistoia (487 euros). On the opposite front, Enna boasts the lowest rates in Italy, with an average of 275 euros per policy, followed by Oristano (292 euros) and Potenza (297 euros). In Imperia, however, the highest annual increases were recorded (+12%), after Lodi, Terni and Vercelli (+10%), while in Ascoli Piceno, Rieti and Latina the tariffs increased “only” by +4.8% on a annual.

“Given these numbers, Ivass limits itself to acting as a notary, when it should instead intervene to block incorrect practices and protect insured people”, continues Truzzi. ”Yet another demonstration of how the insurance sector needs a radical reform that introduces greater competition and greater protection for policyholders”.