Insurance: What increases for 2023?

How to explain the increase in insurance prices?

Insurers are faced with a significant increase in claims -related costs, which forces them to review their own upward prices.

Car insurance

Regarding car insurance, prices should increase by 3 to 5 % in 2023. A phenomenon that is explained by several factors:

• First, a explosion of the price of spare parts and labor. Indeed, the costs of repairing a disaster victims are today much higher than in 2021. For example, a bumper costs on average 6.8 % more expensive than the previous year. The increase even reaches 8 % for windshields.
• Then the SUV multiplicationwhose repair is more expensive than that of a traditional car. This type of vehicle represented, in 2021, 42 % of new vehicle registrations. The development of hybrid and electric cars has also contributed to the overall increase in repair costs.
• Finally, the growing presence of complex electronic components On board vehicles, requiring specific expertise and highly skilled workforce.

Home insurance

As of Home insuranceit is faced with increasingly frequent climatic hazards. Flood, drought, fire, hail … These events cause significant damage to houses and apartments, and therefore expensive repairs.

Knowing that climatic phenomena should increase in the coming years, the situation is particularly worrying. So, Home multi -risk contracts should increase by at least 3 % in 2023. The Prudential Control and Resolution Authority of the Banque de France even provides an increase between 130 and 200 % within 30 years.

However, the price increase does not only affect auto and home insurance. In health insurance, for example, the insured people should expect an increase of around 4.5 % in 2023.

Measures to preserve purchasing power

Faced with inflation, the Minister of the Economy Bruno Le Maire Explicitly asked insurers to moderate the increase in their prices in 2023. However, the government only obtained a few concessions, the insurance companies being faced with an explosion of their own costs.

Among them, the implementation of a Auto check of 100 eurosintended for unemployed under 25. Help welcome to help them pay their contributions, often expensive because of their low-bonus-malus coefficient. Florence Lustman, president of France insurers, also announced An extension of complementary health contracts Parents to these young audiences, who sometimes struggle to treat themselves decently.

To contain the average increase in insurance prices indirectly, the state also relies on other solutions, such as the Deletion of the green card on the windshield of vehicles. A measure that would relieve insurers of the printing and sending costs linked to this sticker, while reducing the impact of this paper document on the environment.

Finally, the government wishes to encourage repairers to Use more used spare partsless expensive, in order to reduce the costs of claims.

Insurers' solutions to limit the impact of inflation

Apart from the general measures proposed by the State, some insurers themselves made commitments to contain the increase in prices in 2023.

This is for example the case of the MAIF whose board of directors decided to limit the increase in prices to 2 % for car insurance. The mutualist group thus continues on its momentum, after having applied a pricing gel for two years and returned almost 100 million euros to its members in 2020, during the COVVI-19 crisis. The announced increase is therefore placed at a level below inflation (which is around 5.6 % at present), but also below estimates which provide 3 to 5 % increase in prices.

In terms of home insurance, inflation will have a greater impact, with an announced increase of 4.5 %. In question: the cost of climatic vagaries, which already amounts to more than 5 billion euros since the start of 2022, against 3.5 billion euros for the whole year 2021. Good news, however: however: Young members will benefit from a price freeze dwelling.

For other contracts, MAIF also guarantees an increase in premiums below inflation. A pricing gel will even be applied to the Education Trades offer, professional insurance or self-motorcycle accident guarantee.

Other insurance companies, such as Macif or Matmut, have decided to perform commercial gestures for owners of electric vehicles and students. Welcome measures, but which will probably not be able to stop the increase in contributions expected in 2023, or +3 to +5 % for all auto and home insurance contracts.