The case is heard. The rates for auto and home insurance (HRM) overall will increase in 2017. A sign that does not deceive, the insurers are not lining up to communicate on the subject. This year, some prefer to wait until the latest possible moment to set their rates and have high visibility on their results techniques. Others do not want to reveal their game in a highly competitive market…
according to data compiled by ” Les Echos “, the bulls promise to be a bit more pronounced than in 2016. According to the commercial practices of the companies, they will not be at the same level everywhere. At Swiss Life, they will be well below 1 % on average in the car. the ” We can afford to, because we had increased a little more than the market in previous years and we recorded and less serious accidents in 2016 “, explains Peter Francis, general manager of Swiss Life’s Insurance Assets. Some customers have even good surprises. The Matmut or MACSF, for example, the rates will not increase for a significant part of the portfolio self. The Olive tree – Auto Insurance, a direct insurer that wants to gain market share, freezes his own for the new customers. In general, the pricing practices are increasingly segmented (see cons below).
Auto : the cost of repairs increases
” The year has been very poor in auto in 2016 “, summarizes an insurer which changes its rates at the 1st April. This translates to improvements medium-sized, up to 2.5 % (excluding taxes). These increases remain all measured. The self is a product of appeal, the insurers look twice before making adjustments strong. the ” The law Hamon [which makes it easier terminations, editor's NOTE] makes us have a tariff policy, constant in time, ” points out Tanguy, The Mayor, responsible for private customers at Generali France. Among the elements of inflation, insurers highlight the rising cost of repairs. the ” It is about 2% in 2016, which is significant “, points out Jean-Marc Willmann, deputy director general insurance with the Maif. The sector is also concerned still the cost of the folders ” personal injuries.” the ” The courts will award compensation incre asingly important, with a multiplication of the positions of prejudice “, underlines Stéphane Dessirier, director general of the MACSF.
The low interest rates may also weigh on prices. They come in effect mechanically enhance the provision for the payment of future pension for the victims of road accidents. These are being placed, they are calculated with respect to a perspective of future performance. If rates drop, it is thus necessary to put aside more money. the ” Until now, we have managed to absorb the rate decrease in our policy of freezing tariffs. But this is no longer tenable “, says Jean-Marc Willmann, while Maif is going to have to supplement its reserves to the tune of 50 million euros.
Home : the floods are weighing heavy
the trend remains The same in the household, a market that already accumulates several years of successive increases. The revaluations of average for 2017 spread between 1 % and 4 % (excluding taxes). They obviously take account of the cost of the floods of late may and early June. Beyond that, insurers must catch up with a on a risk grossly under-priced. the ” There is no 20 % premium on the market to be at equilibrium. But the increases that we spend year after year are not sufficient to back up the hill, given that we are dealing with a claims climate ever more important, “ ahead of Stéphane Dessirier.
The weight of taxes
The insured will notice it may not be at first glance. But their invoice will also be burdened by the weight of the taxes. The 1st January 2017, the contribution levied on each insurance contract-damages to finance the guarantee Fund for victims of acts of terrorism and other offences (guaranty fund) will thus pass from 4,30 euros to 5.90 euros, after having already been raised from 1 euro at the beginning of 2016. the ” The Maif has borne the brunt of the taxes for the past three years. But as we increase our fares, this time we’re going to pass the tax guaranty fund “, explains Jean-Marc Willmann.
VIDEO Auto, habitation : towards a new higher insurance rates in 2017
Laurent Thévenin, Les Echos