What Is Car Insurance?

Car insurance is effectively a contract between yourself and an insurance company in which
you agree to pay premiums in exchange for protection against financial losses stemming
from an accident or other damage to the vehicle. Auto insurance can offer coverage for:

 Vehicle damages, including your car or another driver's vehicle

 Property damage or bodily injuries caused by an accident
 Medical bills and/or funeral expenses associated with injuries sustained in an
accident

The exact details of what's covered depend on the minimum coverage requirements for
your state and any additional coverage options you choose to include.

In addition, contract prices vary according to the following information:

- Localisation

- Car type (power)

- Car age

- Driver age/ gender

- Type of cover

But in 2024 these prices will rise, according to assurland.com estimates, car insurance
premiums are set to rise by 3.5%. The main reason for this increase is the soaring cost of
repairs following a road accident. Inflation affects all sectors, including the automotive
industry. According to the SRA (Sécurité et Réparation Automobiles) association, to which
all car insurance companies belong, the price of parts has risen by almost 10.9% and labor
by over 5.2% in 2022.

Today, the average cost of car insurance in France is €630 per year, for all types of car. If
assurland.com's estimates prove correct, this figure will rise to €652.05 a year by 2024.