Prices for the mandatory auto liability policy, which used to be fixed, now greatly vary from one insurer to another.
Where to buy an RCA (auto liability insurance) policy for 2006? Many drivers must be asking themselves this question, considering this is the first year when prices for the mandatory auto liability policy, which were once fixed, now greatly vary from one company to another.
In general, prices will be about 22%-33% higher than this year, because most companies chose to sell at the lowest possible rate in 2005 (minus 10% from the reference price set by the Insurance Supervision Commission) and at the highest in 2006 (plus 20%).
"This is the first year when rates are different, therefore the quality of the services will matter a great deal, which is not that apparent, because this is a liability insurance (i.e. meaning that it is the party affected by the accident that gets to judge the quality not the buyer of the policy)," explained Liviu Stoicescu, the chairman of the Vehicle Insurers Bureau of Romania. "There will be more RCA campaigns, but they will not be as aggressive as before." The deregulation of the market was done under pressure from the European Union. Until now, companies would spend millions of euros (net amounts) on advertising for RCA policies, the only mandatory product on the insurance market, every winter and summer.
Therefore, the insurance of a Dacia Logan, a model that accounted for some 40% of the 250,000 new cars sold this year, will cost drivers 211.2 RON to 230.4 RON in 2006. In case of company-owned cars, RCA policies cost between 303.6 RON and 364.32 RON, depending on which insurer the policy is bought from. The largest insurance companies on the market, Allianz-Tiriac, Asirom and Astra are also those that operate the highest prices for the civil auto liability policies for next year. Therefore, in order to insure a car like the Logan, drivers have to pay 230.4 RON per year. This tariff is some 9% higher than the one operated in 2005 by Allianz-Tiriac and over 33.3% higher in the case of the other two companies.
"I think those that set the same prices for 2006 made a big mistake. There''s no point in doing this just for the sake of marketing, of gaining market share," Liviu Stoicescu stated. Asitrans sells the cheapest RCA policies for 2006, charging 172.8 RON for individuals and 273.6 for legal entities.
For a Logan held by a company, the most expensive insurance is offered by Asirom. To buy an auto liability policy from this insurer, a company has to pay 364.32 RON.
As far as individuals are concerned, the cheapest RCA policies after those sold by Asitrans are those of BT Asigurari and BCR Asigurari, 192 RON.
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