The prices of auto, home and health insurance contracts will rise sharply in 2023. Increases that will be less steep for certain profiles. Here is what awaits you.
More bad news for your budget. Insurance rates will experience significant increases in 2023. Here are the increases that you should anticipate contract by contract.
Car insurance: up to +5% in 2023
The price of the car insurance premium will increase by an average of 2.5% to 5% depending on the estimates and the profile of the contracting party. For the firm Facts & Figures (F&F), current contracts will increase by 35%. The comparator Assurland bets on its side on a increase between 2.5 and 3% Based on its latest study, which values the average price of an auto insurance contract at 630 euros in 2022, the increase will therefore be around 30 euro in 2023.
As promised by the sector to the Minister of the Economy Bruno Le Maire, these changes are therefore lower than the rise in prices which will reach 7% in January over one year, according to the latest estimate from INSEE. However, the prices of spare parts (+10% over one year) and car repairs (+3.5% over one year) continue to weigh on the sector.
For example, the cost of front bumpers has increased by 6.8% in 2022 compared to 2021, with a drive of 10.5% for those of SUVs against 5.2% for those of sedans. The average price of front left mirrors (known as driver’s mirrors) jumped 7.7% in 2022, underlines F&F. The average price of front windshields increased by 8% in 2022. Increases that raise questions.
In effect, repairers multiply promotions and go so far as to offer Nintendo Switch to bring in customers. Commercial gestures made possible since the Hamon law of 2014. However, the gifts offered to attract customers and the coverage of the deductible are paid for by the community of policyholders and passed on to the amount of the premium, regrets Franck Le Vallois, general manager of France Assureurs .
But these rate increases will not affect all policyholders equally. There are major disparities depending on the vehicle model, the age of the driver or even his place of residence.
According to Assurland, it is in Brittany that the average annual car insurance contract is the cheapest: 491 euros in 2022. In contrast, Ile-de-France has an average annual rate of 745 euros, i.e. a card of 254 euros between these two regions. Another example: technology-packed SUVs will undergo increases with greater intensity than for the rest of the vehicles. Finally, young drivers will always pay their premium much more than others. Less experienced, they are more likely to be involved in an accident and insurers therefore apply a 100% premium in the first year.
To limit the effects of these successive increases, it is necessary compare your minimum contract every 2 years to benefit from any welcome commercial offers, recalls Olivier Moustacakis from Assurland.
Car insurance: what the insurer really does with my money
A 6% increase for motorcycles and scooters
And two-wheelers? The increase should be around 6% according to the comparator Le Lynx. An increase identical to that noted in 2022. Ile-de-France broke the records for the highest insurance premiums in France with an average amount of 653 euros per year for two-wheelers and a peak of 700 euros for the inhabitants of intramural Paris. The increase in the premium, 30% higher than the national average, is notably linked to a higher number of claims.
Finally, young drivers are once again overtaxed by insurers with an average premium of 739 euros per year, double. For Ile-de-France residents under 25, it’s a double penalty since the average premium is around 1,000 euros per year.
Car insurance: compare your contract
Home insurance: +3% minimum
Climatic phenomena cost insurers nearly 7 billion euros between January and August 2022. The drought of this summer alone has increased the bill by nearly 3 billion euros. A record amount since the creation of the Natural Disasters or CatNat scheme in 1982. This fund, fed by a tax on home and auto insurance contracts, has been in deficit for 7 years. To balance it, the share taken should increase from 12 to 18% by 2025, according to insurers.
Nevertheless, if the government does not agree with them on the Catnat, the danger is to see an almost fixed increase in each contract of around 10 euros for climate risk, estimates the firm Facts & Figures.
Natural disaster: the headache to get compensated in the event of a disaster
In the meantime, the home insurance premium will increase. The comparator Assurland expects an average of between 3 and 3.5% in 2023 when Facts & Figures is targeting an increase of between 3 and 5%. According to a study by Meilleurtaux, the average price of home insurance is 181 euros for an apartment and 290 euros for a house. On this basis, a 3% increase will entail a price increase of 5.41 euros per year for an apartment and 8.70 euros for a house.
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But again, significant price differences exist depending on the location of the property. Thus, Brittany is the least expensive region of France (171 euros per year) to provide housing. Why? Because the number of declared claims remains very low. In contrast, the Ile-de-France and South-East regions are suffering from high claims with an upsurge in the number of burglaries and climatic disasters.
At last, home insurance is also weakened by the rise in prices of nearly 3% for materials and labour.
Home insurance: compare your contract
Mutual: increases between 3 and 5%
In 2023, the increase in health insurance contracts will be 3% according to the comparator Assurland.com when the firm Facts & Figures puts an average increase of between 3 and 5%. But the latter insists on the penalty applied to customers according to their age. Thereby, a 35-year-old insured will pay 1% more and a 75-year-old may see his contract inflated by 3% due to higher expenses. For their part, insurance companies insist on the cost of health expenditure, which has increased by 7.9% since 2021.
This is a another blow to the purchasing power of policyholders. In 2022, mutual insurance contracts had already jumped on average by more than 6%. Indeed, according to a study by Meilleurtaux, on average, the annual contribution for a family with two children has increased from 1100 euros in 2021 to 1172 euros in 2022, i.e. a 6.55% increase.
Paris has the highest price in France, followed by Bouches-du-Rhne. The two departments show higher contributions 1300 euros the year and ahead of the Hauts-de-Seine and its annual 1298 euros. On the other hand, and apart from the departments of Alsace-Moselle which benefit from a special scheme, Deux-Svres, Ille-et-Vilaine and Sarthe offer the most economical prices of the study: 1117 euros on average.
In addition, the reform of 100% Health would have cost 2.5 billion euros to complementary. An amount that affects prices in a sector where competition is fierce since it is possible to terminate your contract at any time and the level of reimbursement is unified little by little, despite differences in coverage at the level of so-called alternative medicine such as osteopathy.
Mutual: compare your contract