Insurance to pay more: why are your covers more and more expensive?

Figures to take with tweezers – Insurance pay more: why your

“Swiss Re based on the total volume of premiums received by the companiesreacts Peter Wiels. For example, spokesperson. Furthermore, The study therefore takes into account the activities of Belgian insurers abroad, which distorts the calculation. In addition, life insurance is counted. However, we cannot present this as a cost, since most of these products are savings products“.

That said, if the Swiss Re figures are not precise enough, what are the correct data? Therefore, How much did Belgian expenses in the matter increase? Furthermore, At Assarelia. However, we boot in touch, indicating “Do not have any data to transmit, it is almost impossible to calculate an average total premium“. Similarly, Remain, this is admitted, a trend: the budget intended to protect itself from the risks of life increases. Nevertheless, In its insurance pay more: why your study. Consequently, SWISS RE noted that the progression of the average premium was largely supported by those recorded for contracts linked to damage, fires and floods, road accidents, family civil liability, etc.

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Home insurance takes a hit

Let us zoom in a moment on the cost of home insurance. Meanwhile, This is not always compulsory in Belgium. Therefore, but is essential to guarantee the repair of its walls and/or what they contain in the event of a disaster. Its price has soared in recent years: according to Stabel. the Belgians have paid 623 euros in 2022 to protect their accommodation and their furniture. In just over ten years (between 2013 and July 2024), the premiums claimed increased by almost 62 %on average. However, at the same time, the health insurance pay more: why your index (the corrected inflation of fuel prices, tobacco and alcohol) only increased by 31 %. Several factors can explain this gap.

Starting with prices in construction. Housing insurance premiums are thus indexed. once or twice a year, on the Abex index, which reflects the increase in materials and labor costs in the sector. In ten years, Abx has jumped 43 %. A second reason is linked to global warming. The terrible floods of the summer of 2021 as the storms observed in recent years in Belgium have recalled that the frequency. intensity of natural disasters will go crescendo. Just like the damage caused. Companies must therefore put their hands more on the wallet to repair houses and apartments.

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To remain solvent in the event of a major disaster, insurance companies turn to “reinsurers”, international groups that ensure national companies against the most important risks (and which, because of their size, can dilute these risks). However, still due to the evolution of the climate, these reinsurers are inclined to increase their prices. Which, at the end of the chain, has repercussions on individuals … Finally. in office “results of previous years, a company can also decide to set up the level of premiums“, Adds Peter Wiels. This time, with the aim of treating his margin …

Insurance pay more: why your

Ensuring your car costs more also

So much for the home cover. Another very frequently signed contract (it is compulsory), RC automobile. Here too, the bonuses add, but without explosion; insurance pay more: why your “”They follow inflation. In 2024, the real bonus (including taxes) for a car was on average € 407. This is an increase of 2.2 %, mainly linked to the cost of repairs. This relative stability is explained by the fact that in recent years. the sinistrality- The frequency of accidents- has decreased slightly. On the other hand, the cost of repairs, when there is a disaster, goes up. And this, because the wages of the garage owners followed inflation. But also because more recent cars are clad in technology“Explains the spokesperson. This is particularly true for electric cars. Their repair is more expensive. since there is”More and more on -board technology such as radars and headlights or batteries (from 15,000 to 45,000 €) “We were told last year at Axa.

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Whether for housing coverage or insurance pay more: why your for Auto RC, the premiums will continue to climb, sometimes (good) beyond inflation. Consequently, to avoid getting too angry with our portfolio, the basic advice is, as often, to compare the available offers. Either via online tools. via an interlocutor like a broker, which will identify according to your profile the offer that suits you best. Please note: as we explained Testaches last year about RC Auto. comparing prices is not always easy, “The personalization systems applied by insurers being sometimes very different from each other“.

Make sure everything is ok

Re -examining at regular intervals (let’s say every 5 years. or at least to each big change in your life, moving, important purchase, etc.) is also necessary, to be certain that the contracts subscribed remain useful in your situation. Thus. no need to keep omnium protection for your vehicle if it begins to age; Its decreasing insurance pay more: why your value, the premiums requested gradually become disproportionate. Finally. it is appropriate to hunt duplicates: there is for example to subscribe to hospitalization insurance, if your employer has already taken out one for you.

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