Car insurance: one in two Italians pays less than the average

Posted by Lone on January 11th, 2022

In the fourth quarter of 2017, the average expense for car insurance was 417 euros. The region of residence, the age group, and the choice of an online policy affect the actual premium.

In the last quarter of 2017, the average car insurance premium in Italy dropped to € 417. But more than one in two Italians pay a lower than average premium and over 20% of policies are tied to a black box.

Car insurance: average premium at € 417

According to IVASS data referring to the fourth quarter of 2017, the average premium for motor vehicle liability in Italy is 417 euros. Compared to the third quarter, the average price paid by Italians for car insurance fell by 0.8%. The average premium is also down compared to the fourth quarter of 2016: in this case, the drop is 0.6%.

But the average value of the auto RC taken alone is data that can create misunderstandings. Looking more closely at the results of the IVASS survey, it can be seen that most Italians pay a premium much lower than the average. Over 50% of the policies have an annual premium of fewer than 375 euros.

Car insurance: big differences between regions

IVASS confirms that there are large differences in the prices of car insurance policy numbers applied in the various Italian regions. The age of the policyholder also strongly influences the final price.

Generally speaking, car insurance costs more in the south than in the north and more for young people. In particular, the age group with which the highest premiums are associated is between 18 and 24 years old.

One way to save on auto insurance is to choose a telematics policy. This solution has convinced more than 20% of Italians: 20.5% of the policies stipulated in the fourth quarter of 2017 include premium reduction clauses linked to the installation of a black box on board.

Insurance companies offer lower policies to those who agree to install the black box. In addition, from 10 July the compulsory discounts established by the Law on Competition will come into force: when signing a new policy or renewal, the insurance company must offer the customer the black box and an alcohol-lock device and apply the percentage. discount established by IVASS.