Wednesday, February 21, 2024
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a group purchase launched in France to lower costs

A consumer association and a broker join forces to launch the first group purchase of car and motorcycle insurance with an expected reduction of 100 euros in the first year.

This is a first in France: a group purchase for car and motorcycle insurance. While the average premium to insure a car has risen by a further 3% this year, the operation was launched by a consumer association and an insurance broker.

Free registration on a dedicated website

“The purpose of this operation is to negotiate discounts on insurance premiums for participants (free months or reduction percentages) while guaranteeing them the best coverage according to their profile”, explains Families of France and Selectra in a joint press release.

Participation in this group purchase is free and non-binding, on a dedicated website. The form to be completed asks for contact information, occupation and your need for car, motorcycle or both insurance, as well as standard information about the type of trip (private, work or both), age of the vehicle(s), number of trips kilometers per year and his driving history (duration of driving licence, damage history).

Once this pre-registration is complete, Selectra plans to issue “an offering to market underwriters” in January 2023, stating that “pre-registration will remain open during the trading period”.

Up to a 100 euro discount is expected the first year

The selected offer is sent to potential interested parties between March and April, with of course details about price, guarantees and benefits, as well as a possible subscription.

“Bonus, maluss, small riders, young drivers with a small or large displacement: Through this innovative operation, Families of France and Selectra offer solutions adapted to everyone. The more participants, the more advantageous the negotiated conditions will be”, states the press release.

“The price of insurance is about 641 euros per year for a car and 503 euros per year for a motorcycle. Our goal with this group purchase is to negotiate at least two months free over the first year, so a discount of between 80 and 100 euros “, explains Nolwenn Fajolles, head of group purchasing at Selectra.

An amount of potential saving is therefore equivalent to the €100 subsidy the government has provided to replace the discounts on the liter price of fuel from 1 January 2023. Last year, Selectra had already launched a similar offer on home insurance. The 15,000 registrants received a 25% discount.



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