RCAs keep getting more expensive, even if the cap is in effect. How much does a driver from Ilfov pay now who in 2023 pays 950 lei

Video

Compulsory insurance keeps getting more expensive, even if it is in force capping RCA tariffs. The offers received by drivers are almost double compared to last year. Romanians who notice large price increases can contact the Auto Insurers Bureau to receive a better offer, but the request is resolved within 2 weeks.

By Florentina Lazar on 09.05.2024, 20:08

Insurance companies should offer drivers the rates charged on February 28, 2023 and a maximum adjustment of 6.8%. In reality, however, prices are 45% higher than last year. A driver from Ilfov, classified in class B8, paid 950 lei last year for an RCA policy for 1 year. Now he received an offer from the same company with a higher price, of almost 1,400 lei. For a 6-month RCA policy, another company has an offer over 500 lei more expensive this year than in 2023.

The Financial Supervision Authority did not want to comment on the situation

“Prices have had a positive evolution. They are calculated based on that reference, but it is quite difficult to anticipate what the agreed price is at that time, maybe a certain customer benefited from a promotional price and from here there can be such a difference big”, said Dorel Duta, president of UNSICAR. Drivers complain about price increases. “They are double. It is an inflation that can also be seen in the RCA and it is sad”, says a driver. “I have to do it this month, but anyway it’s double what it was years ago, for the purchasing power of Romanians it’s a lot”, says another driver.

Romanians who receive at least three offers from three different companies, which are 36% higher than the reference rate, can contact the Romanian Auto Insurers Bureau – BAAR – to receive a better price. The transporters accuse the authorities of not checking the insurance companies. “How can someone check when there are N rates at each insurer? They made fun of us. None of them supervises. There was no kind of talk,” said Vasile Ştefănescu, president of COTAR.

Contacted by the Observer, the Financial Supervisory Authority did not want to comment on the situation. The ceiling of RCA tariffs is in force until the end of June. Until then, the Parliament will adopt the new law that reforms the insurance system in Romania. RCA policies will also be able to be paid in installments. “If we don’t pay our policy when it’s due, we have some penalties, but we can be included in a database as a bad paying customer and later we can no longer benefit from this facility. We’re talking about a range of prices and it’s difficult to make a comparison”, said Dorel Duta, president of UNSICAR. Those who do not use the car for a period will be able to request suspension of the insurance.