The report "RanKING – motor insurance market and prices" prepared by Rankomat indicates that the average MTPL price in 2024 was PLN 650 (~EUR 152), which is PLN 130 higher y-o-y. The experts point out that the current price trend of 25% resembles the situation from eight years ago. Between 2016 and 2017, premiums increased by 24%, but that wasn’t as rapid as last year. For the next five years, the average price has been systematically falling – from PLN 779 in 2017 to PLN 505 in 2022. After a minimal increase of 3% in 2023, it now reaches PLN 650, which is still PLN 129 less than in the record-breaking year of 2017. In the 4Q2024, the average price was PLN 694, which was the lowest since the beginning of 2023, then it began to systematically increase from PLN 490.
“After a long period of decline in MTPL prices and a slight increase throughout 2023, we have a sharp upward rebound. In 2024, all quarters ended with increases of at least 2.1%. The peak of increases was in the second quarter of 2024, when we observed an increase of 11.1% compared to the previous quarter. In 2025, penalties for absence of compulsory insurance will increase again, but MTPL prices do not necessarily have to go up, which depends on several factors”, said Bartosz Niewiadomski, President of the Management Board of Rankomat.
The RanKING report is based on data collected by Rankomat. The analysis covers the period from January 1 to December 27, 2024, and offers from the following companies: Allianz, Balcia, Benefia, Compensa, Generali, ERGO Hestia, Euroins, Wiener, LINK4, mtu24.pl, Proama, UNIQA, You Can Drive, TUZ Ubezpieczenia, Beesafe, Trasti and wefox, the source added.
*EUR 1 = PLN 4.27 (as of December 27, 2024)
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