Find out how car insurance prices are changing and who the winners and losers are in the latest update

In recent months, the Motor Third Party Liability (MTPL) rates have been the subject of intense discussion among Romanian drivers

Recently published by the Financial Supervisory Authority (FSA), these tariffs provide a key insight into the direction in which car insurance costs are heading in the country, reports hotnews.ro.

Who pays more?

Compared to spring rates, the most notable increase is for drivers under 30 who drive low-powered cars. With an increase of 6.4%, this category of drivers may face increased pressure on their car insurance budget. Likewise, car owners aged 30 and under, who drive cars with a cylinder capacity of more than 2,500 cc, face a slight increase of 0.8%.

Decreases for certain categories

Despite the increases, there is good news for some categories of drivers. Drivers aged 31-40, who drive cars over 2500cc, now have lower benchmark rates compared to February. The same trend can be seen for drivers aged 41-50 and those over 60 who drive powerful cars.

What does the reference tariff mean?

The CAR reference rate is an indicative indicator, calculated for class B0 and for a 12-month period. Although it does not represent the final price charged by insurers, it serves as a reference for high-risk policyholders. According to the law, if you receive offers with prices 36% higher than the reference rate, you are considered a high-risk policyholder and can apply to the Motor Insurers' Bureau for lower rates.

The impact of the Euroins bankruptcy and price cap

The article cannot fail to mention the context of the Euroins bankruptcy and the Government's decision to cap RCA prices until the end of the year. This measure was taken to avoid significant increases over the winter holidays, giving drivers a breathing space.

Conclusions

With benchmark rates as an indicator, drivers can predict where car insurance costs are headed in the coming months. It is essential that every driver is informed and explores the options available to get the best deals. Whatever the trend, transparency on rates is crucial for an informed car insurance decision.