Car Insurance Premiums in Italy Rise by 12.6% Between 2021 and 2024

Rome: Car insurance premiums in Italy have seen a significant increase over the past few years. Third-party car-insurance premiums rose an average of 12.6% from January 2021 to July 2024, as reported by the insurance supervisory authority Ivass on Monday.

According to Ansa News Agency, the increase in Italy’s car insurance premiums is notably lower than the average rise across the European Union, which stood at 19.6% during the period from January 2022 to July 2024. The data provided by Ivass highlights that while Italy experienced a 6.1% increase in nominal terms in 2023, the rate of increase slowed slightly to 5% in 2024.

Further historical data from Ivass indicates that between 2014 and 2021, the average premium for motor liability insurance in Italy had decreased by 25.3% in nominal terms and by 29.7% in real terms. This recent upward trend marks a shift from the previous years of declining premiums in the country.