Motor insurance in Belgium: rates to rise in 2024

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car insurnace belgiumSeveral Belgian insurance companies are expecting an average increase of 3.9% in motor insurance rates in 2024.

This increase would be driven by several factors, including:

  • rising motor claims experience
  • higher labor and repair costs
  • tighter reinsurance conditions
  • high car prices, particularly for electric vehicles

Read also | Belgian insurance market: turnover increase in 2022

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Tue, 12/12/2023 - 11:43
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