Another sign of the cost of living: as if the flood of price increases of the past year wasn't enough for consumers, then the prices of car insurance policies in 2022 will also have a huge part in the jump.
Wobi, the digital insurance agency that operates a platform for the comparison and purchase of insurance products, conducts a monthly car insurance price index (comprehensive insurance and mandatory insurance).
The index includes a monthly big data analysis of all policies insured through Wobi, and checks price fluctuations in them throughout the year.
The summary of the index for the year 2022 shows that the prices of the policies increased by an average of 23% in the past year, the prices of the comprehensive insurance registered an increase of 27% and the prices of the compulsory insurance increased by 13%, compared to 2021.
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The annual index examined the price changes in selected models in several categories.
Prices have increased in all categories tested.
Among the models in which there was the most significant change: in the mini category - the average insurance price of the Hyundai i10 increased by 31% compared to 2021, the Kia Picanto increased by 20.4%, and the Honda JAZZ by 16%.
Cash money // Photo: Dodo Greenspan,
In the supermini category - the average insurance price of the Seat Ibiza increased by 24.5% compared to 2021, the Suzuki Swift by 18.9% and the Hyundai i20 by 17.2%.
In the Jeep category - the average insurance price of the Suzuki Crossover increased by 26.6% compared to 2021, the Mitsubishi Outlander by 26.2% and the Kia Motors Sportage by 12.8%.
"A quick check will help"
Wobi's index data illustrate the importance of comparing the different companies.
The average gap between the most expensive policy and the one after it is 515 NIS, an increase of more than 100 NIS from 2021. The gap between the cheapest policy and the most expensive policy is 2,673 NIS, an increase of more than 600 NIS from last year.
Nadav Shreibman, director of the research and analysis department at Wobi: "The upward trend will continue in the coming year as well. In a complex period of price increases, a necessary consumer step is to conduct a comparison before renewing the policy, that is, a quick check that can save between 2,700-600 NIS per year."
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