In Italy motor liability rates, after having dropped by 6% between 2014 and 2015 and by another 1% the following year, they started to grow again in the second half of 2016 and the trend reversal should be confirmed in 2017. The average trend, however, hides a panorama more than ever diversified across the different parts of the country, to the point that in some cities there was a 4% increase and in others a 9% decrease.
Here is the ranking of the 10 provinces analyzed in the 2017 edition of theAiba Auto Observatory (Italian association of insurance and reinsurance brokers). Next to the average motor liability rate, the change compared to the previous year is indicated. The data refer to the two-year period 2015-2017.
- Napoli: 1.246 euros (-2,4%)
- Massa Carrara: 896 euros (+2,8%)
- Roma: 893 euros (+2,7%)
- Florence: 870 euros (+5,6%)
- Taranto: 878 euros (-9,1%)
- Bologna: 794 euros (+3,9%)
- Bari: 719 euros (-8,2%)
- Milano: 640 euros (+3,8%)
- Palermo: 607 euros (-2,8%)
- Torino: 578 euros (+1,3%)
Don't panic: the real price of the policies it is generally lower than the list price, because insurance companies are granted flexibility on offers. In 2016, the discounts averaged 8%, against 6,8% in 2015.
On the other hand, “average motor liability prices in Italy are still about 150 euros higher than those recorded in the main European countries”, explains Professor Riccardo Cesari, director of IVASS (the Insurance Supervisory Institute).
The gap with respect to markets such as those of France and Germany is still wide, but in recent years it has narrowed, above all thanks to the success of black box (o black boxes). These are devices which, once mounted on cars, detect information on driving style and the causes of accidents, thus allowing for substantial discounts on policies. “Between 2013 and 2016 – continues Cesari – the contracts that provide for the installation of the black box are almost doubled, going from 10 to 19% of the total, with a very strong concentration in the South”, where insurance prices are higher.
According to Aiba, faced with the prospect of receiving a discount on motor liability, 87% of policyholders are interested in technological services, 70% are willing to share data and 73% trust in providing information to insurance companies. "Today we have an unbeatable ally: the data - underlines Maria Bianca Farina, president of the National Association of Insurance Companies (Ania) - We must use it correctly and ethically to give citizens what they deserve, because those who share their data expects prices appropriate to its risk profile. The ever greater customization of the offer will be an advantage for everyone, insurers and policyholders”.
