The cap on mandatory car insurance prices will be lifted starting July 1, 2025, a measure that could generate three trends: stagnation and a decrease in tariffs in certain categories, especially in rural areas or small towns, where the frequency of claims is low, but also an increase in some segments, especially in large urban areas, the president of the National Union of Insurance Brokerage and Consulting Companies in Romania (UNSICAR), Dorel Duta told AGERPRES.
"From my point of view, there should be no spectacular developments because throughout this period prices have evolved. There was a freeze on a certain date, on February 28, 2023 - and only for certain customer segments the prices charged were at their maximum on that date. In January last year, through the capping emergency ordinance, updating with inflation indices was allowed. So, prices have evolved throughout this period, taking into account the frequency and severity of claims, in a geographical area or on certain categories of vehicles and the value of compensation paid, on each individual event. Therefore, there would be no reason to register tariff increases in all categories. There are three trends regarding the evolution of tariffs: stagnation and decrease in tariffs in certain categories, especially in rural areas or small towns, where the frequency of claims is low - and increasing in some segments, especially in large urban areas. The battle is quite big for clients in rural areas. We are talking about 45 years plus, we are talking about vehicles that do not have very high power and clients who have a favorable history, ranging from B5 up to B8. The discount is quite important and insurance companies want these clients to improve their portfolio balance", mentioned Dorel Duta.
He emphasized that there may be further rate increases, depending on traffic behavior, the number of events, especially if we are talking about large urban areas.
Starting with April 2023, mandatory car insurance rates have been capped to combat the risk of excessive price increases due to imbalances in the market.
According to published statistics, at the end of 2024, there were over 10.7 million vehicles in the national car fleet, and, as of March 13, 7.6 million vehicles were insured.
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