Home / car insurance / Romania’s reference prices are 3% to 17% lower in six months ago

Romania’s reference prices are 3% to 17% lower in six months ago

For companies an examples is represented by the cars with engines of 1,401-1,600 cubic centimeters.
One of examples presented refers to the cars used by individuals of 31-40 years, by 1,201-1,400 cubic centimeters.
This Thursday is the last day with regulated prices for the mandatory insurance RCA, while the reference tariffs will be enforced starting Friday, said the first vice president of the Financial Surevillance Authority (ASF), Cornel Coca Constantinescu, in a press briefing.
Thus, the reference tariff for a RCA policy closed for one year for the persons aged between 31-40 year, owning a car with a cylinder capacity between 1,201-1,400, is RON 506.
The indicators are the frequency of the historical damages by 4.2 percent, the average historical damage is RON 5,474.

car insurance market

As it stated in “Those who represent a lesser risk pay less; those that represent a greater risk pay more.”
But, insurance companies are warning that the regulation could have the reverse effect, and could result in you paying more for insurance.
If this regulation is implemented after the public comment period, insurance companies would have six months to get in line.
Baldwin said insurers have been trying to prove that to New York State for three years now.
Its superintendent, Maria Vullo, said, “Under this proposed regulation, auto insurers cannot use educational and occupational status in their insurance underwriting, unless they can clearly demonstrate a plausible relationship to the risk of loss.”

As it stated in

car insurance reference prices in Romania

car insurance

Romania’s Financial Supervisory Authority (ASF) announced yesterday the reference prices for the mandatory car insurance – RCA policies.
Romanian MPs approved earlier this week the new RCA law, which sets new rules on the mandatory car insurance (RCA) segment.
The reference prices are 3% to 17% lower compared to the maximum tariffs, which were introduced by ASF six months ago.
The Financial Supervisory Authority will later issue a set of norms that will limit the RCA prices to a certain interval above the reference price.
For motor vehicles with a mass of over 16 tons, the reference price is RON 7,314 (EUR 1,606).

Check Also

picture.jpg

There’s A Fresh method To Figure Out the reason Your vehicle Insurance Costs Extremely Much

It’s difficult to say what goes into a vehicle insurance quote: Is it my age? …