Not just sales and production. The Sars-CoV-2 pandemic has also made its effects felt on the number of accidents and, consequently, on auto insurance. The restrictions on the circulation of private vehicles that there were in 2020 did drastically decrease the number of claims “With sequel” and, consequently, all the figures that gravitate around the world of RC cars.
According to the latest IVASS bulletin (acronym for “Institute for Insurance Supervision”), during 2020 there were 1.6 million claims, down by 30% compared to those recorded in the previous year. The total charges for claims fell by approximately 19% with direct effects on the cost of car insurance.
According to IVASS data, the average premium, net of tax and parafiscal charges, stood at 320 euros, down 3.6% from premiums paid by motorists in 2019 (but they could soon return to rise). Going into detail, the cars paid an average premium of 315 euros in 2020 (cost calculated net of tax and parafiscal charges); the average premium for trucks was € 527, while motorcycle owners paid € 217.
The traffic restrictions have also had an impact on frequency of claims, which in 2020 stood at 4.4% (two percentage points less than the frequency recorded in the pre-Covid year). A trend also recorded in the truck sector (the frequency passes from 6.9% in 2019 to 5.5% in 2020) and in that of motorcycles (in this case there is a more moderate decline, from 3.7% to 2% , 8%).
Despite a decidedly “declining” year, profits for insurance companies there was no decline. Indeed, data in hand, have more than doubled compared to 2019. According to what is reported in the IVASS bulletin, the profits of the motor TPL class amounted to 1,505 million euros (1.5 billion), up 135% compared to the profits recorded in 2019.
In short, the decrease in accidents has also been good for the coffers of insurance companies, which have thus found themselves paying less compensation to their policyholders. Also for this reason, ANIA and IVASS have asked for one insurance sector reform, which rewards the most loyal motorists who respect the rules of the Highway Code.
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