Insurance premium, toll or even ecological penalty… Owning a car will not be free in 2024. MoneyVox lists the dangers that await motorists.
Car sales increased (+16%) in 2023, according to the count of registrations kept each month by the Auto-journal. Will the top three best sellers – Renault Clio, Peugeot 208 and Dacia Sendoro – continue in 2024? No idea, but owning a vehicle will have a greater cost on household wallets next year.
Car insurance: premiums will jump
According to estimates from several sector specialists such as assurland.com, Facts & Figures, Addactis and the broker Meilleurtaux, car insurance rates are expected to increase by 3.5 to 4% in 2024. “In two years, the total cost repairs increased by 14%, and there is no reason to expect a drop in raw material costs in 2024,” analyzes the consulting firm Addactis. “More on-board technologies, more electric cars on the roads, a workforce that is becoming scarce… in the event of material damage, the price of repairs soars,” adds Olivier Moustacakis from Assurland to MoneyVox.
According to the comparator, the average price of car insurance contracts today reaches 630 euros per year, with disparities between third-party, extended third-party and all-risk formulas.
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Toll rates will increase…
The price of tolls on French motorways is reviewed every year on February 1st. In 2024, the increase should be less than 3% according to the Minister of Transport, Clément Beaune. However, estimates predict a very close increase, around 2.7%. How then can we avoid seeing the bill increase too much? For motorists regularly making the same journey, taking out an electronic toll subscription can be a solution. Ulys, for example, offers discounts of up to 40% on the toll price after 20 identical journeys per month.
… the registration document also in certain regions
Bad news for buyers of a new vehicle. The regions of Ile-de-France, Normandy and Centre-Val-de-Loire will increase the price of their tax rate which is used to bill the registration document from January 1, 2024. For the regions, the regional tax on registration certificates represents their third tax revenue, behind VAT and the internal consumption tax on energy products.
In Ile-de-France, the requested price will increase from 46.15 euros to 54.95 euros per fiscal horse, an increase of 8.80 euros. In Normandy the tax rate will increase from 35 to 46 euros, in order to maintain investments in transport, particularly in rail. Finally, Centre-Val-de-Loire is considering an increase of 5.20 euros next year, i.e. a jump from 49.80 euros to 55 euros.
Brittany, today the most expensive region in France with a tax horse at 55 euros, will therefore no longer be alone in the lead in a few weeks. The fiscal power of your vehicle is also one of the determining factors in the pricing of your car insurance premium.
Car insurance: end of the green sticker
The green sticker will disappear from the windshield on April 1st but, unfortunately, with no expected immediate effect on the level of the premium. From now on, policyholders will be listed in the Insured Vehicle File (FVA) updated within a maximum of 72 hours.
A Summary memo will be sent by insurers to their clients if necessary. This free document, which you can have in paper and/or electronic format, will include the name and address of the insurance company; the surname, first names and address of the contract subscriber; the insurance policy number; the date of issue of the document; the effective date of the guarantee; the vehicle registration number; the make and model of the vehicle.
This memo will only be sent once over the duration of the contract, and not published each year. A new memo will be sent to you in the event of a change of insurer.
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An extended ecological penalty
From January 1, 2024, vehicles that emit more than 117 grams of CO2 per kilometer (g/km) will be penalized on purchase. For the most polluting large engines, this tax could now reach 60,000 euros. For example, the French’s favorite vehicles like the Clio or the Peugeot 208 (petrol and 100 horsepower under the hood) will cost more, respectively 50 and 125 euros.
Electric vehicles are exempt from the penalty. In the 2024 budget, it is even planned to increase the amount of aid – eco bonus or conversion bonus – for the purchase of a virtuous vehicle. Currently, if you do not buy a car at a price higher than 47,000 euros, the ecological bonus is 5,000 euros for households whose reference tax income (RFR) per share exceeds 14,089 euros. For a lower tax income, it is 7,000 euros.
Technical inspection of two-wheelers
Two-wheelers (mopeds, motorcycles, scooters, etc.) will now be subject to technical inspection, from April 2024. All two- or three-wheeled vehicles, with a cylinder capacity greater than or equal to 50 cm3, are affected by the measure. The only exception is motorcycles used in sporting competitions such as enduro or trial.
The first to have to carry out the technical inspection, from April and before mid-August or the end of 2024, will be those registered before January 1, 2017.
Small speeding ticket: no more points deducted
From January 1, “small” speeding violations, below 5 km/h, will only be punished by a fine ranging from 68 euros to 135 euros depending on the area where the offense was committed. But they will no longer be subject to point deduction. These offenses represent 58% of speeding violations punished.
Fuel bonus 2024: to see…
The fuel bonus is suspended: the compensation of 100 euros will not be automatically activated on January 1, 2024. If the price of fuel remains below 2 euros per liter, the aid will not be released by the government.