Auto insurance: the rates in increase next year

An amendment to the draft finance law provides for new expenses for insurers. And so for guests.

Each year, the insurers contribute to the Fund of guarantee of compulsory insurance (FGAO), which is responsible for compensating the victims of road accidents (read more below). An amendment to the draft finance law for 2019 proposed to increase their contribution limit for the increase from 12% to 25%. The objective of this measure is to increase the income of the fund, battered by the strong increase in accrued compensation. The reason for this ? The cost of the injury rises, as the number of vehicles uninsured.

The insurers have protested the lack of consultation. However, the impact of the increase on their overall budget will stay low. If the contribution rate is actually set at 25%, this would amount to 33 million euros of additional funding, 0.44% of the 7.5 billion euros of contribution received each year by the companies.

additional 8 to 10 euros

On the other hand, this increase will prove to be a bad news for owners of vehicles. "If it takes place, insurers will pass this additional burden on their policyholders," predicts Julian Fillaud, director of the comparator Hyperassur. Because among the galaxy of contracts, motor vehicle insurance is unprofitable for the companies, who perform almost no margins on it. "They are often used as product appeal to win new customers," says Christophe Triquet, president of the comparator Meilleureassurance.com

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This increase likely to add to those already anticipated by the insurers, which should run between 1.5 and 2.7% on average to 2019.

Reported the average amount of for car insurance, between 400 and 500 euros per year, an increase of 2% represents 8 to € 10 per year. If next year, insurers may increase their premiums, these should remain stable in the following years due to the reforms designed to limit the number of serious accidents, including the speed limitation to 80 km/h or the prohibition of the mobile phone at the wheel. If they are successful, there should be less injuries to compensate.

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Another positive point : in 2019 the file of insured vehicles will be put in place. It will allow public authorities to fight more effectively against the non-insurance, and again, decrease, term, borne by the FGAO.

How to escape the rise

drivers who anticipate an outbreak of their bonus should make the competition. "The law Hamon [on consumption] in the past has facilitated the mobility. After the first anniversary of the contract, an insured may change car insurance at any time by respecting a notice period of one month," recalls Julien Fillaud.

To find less expensive, you can use the services of a comparator on the Internet (Assurland, Hyperassur, LeLynx, Ferrets, Meilleureassurance.com,...).

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Even without a large premium increase, everyone has an interest to do a tour of the market regularly. "In terms of insurance, loyalty does not pay, it is necessary to review its contracts every two to three years," advises Christophe Triquet. This also allows you to adjust its safeguards to its vehicle. For example, it is often expensive, and not cost effective, to maintain a car of more than five years in any risk. The key to this rethinking : 20 to 30% savings on the auto insurance premium.

FGAO, before being ?

The FGAO (guarantee Fund of Compulsory Insurance of damage) is a public organization which supports the compensation of victims of road accidents. To act, the claim must have occurred in France or in the european economic Area (EEA) and not be covered by a car insurance company.

The fund compensates so the victims of a road accident if the perpetrator is not insured, insolvent or could not be identified following a hit-and-run.

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A victim may enter this fund directly or through its insurer within the year following the accident (three years in case of an offence of a leak) by filling out a form on the Internet. The FGAO will make him a proposal of compensation within a period of eight months from the accident.