Faced with rising prices, almost 28% of the French are considering doing without car or home insurance to reduce their expenses. This is revealed by a recent survey conducted by Poll&Roll for Leocare, a new insurance company specializing in mobile services. This worrying trend also affects higher socio-professional categories (CSP+), where 26% of respondents say they are ready to give up their car insurance.
The impact of inflation on policyholders
Insurance prices continue to rise, with no sign of letting up in 2023. Today, 41% of the French spend more than 40 euros a month on their home insurance, and 75% pay more than 40 euros on their car insurance, 10% of whom spend more than 100 euros per month. According to Christophe Dandois, CEO and co-founder of Leocare, these cumulative costs can represent up to 2,500 euros per year for a household that owns its home and two cars.
The survey shows that 63% of French people believe that insurance prices are too high, with car insurance at the top of criticism (69%), followed by home insurance (56%). This perception of rising costs leads some to consider drastic measures to reduce their expenses.
Dropping your car insurance is not a decision without consequences. Christophe Dandois points out that this choice exposes drivers to numerous risks, both criminal and financial. Despite this, 28% of car owners no longer plan to pay their car insurance, a proportion that even reaches 39% among residents of Ile-de-France.
Cost reductions and relocations
For some, getting rid of their vehicle or moving is a possible option to reduce insurance costs. One in five French people (21%) could consider selling their vehicle or moving to pay less for their insurance. This share has fallen by 6 points compared to the previous year. However, there are still regional differences: 28% of residents in the Paris region would consider these measures, compared to 18% in the north and 20% in the south.
Method
This study was conducted on a sample of 1,000 people representative of the French population aged 18 to 65 years (3 categories: 18-34 years, 35-49 years, 50-65 years). Data were collected using an anonymous online questionnaire (10 questions) from 12 to 19 September 2023.
Image credit: DR
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