Over the last decade, household expenditure on motor vehicle insurance services in France has shown mixed trends. After a period of modest growth from 2013 to 2015, expenditures dipped in 2016 only to recover and climb steadily until 2019. In 2020, there was a significant decline of 15.38%, likely attributed to the pandemic, but a substantial rebound occurred in 2021 with a 16.61% increase. Following this, the growth rate moderated, with 2023 showing a modest 1.74% rise. In 2023, the expenditure stood at €8.75 billion Euros. The 5-year CAGR up to 2023 was 1.89%.
Looking ahead, expenditure on motor vehicle insurance services is expected to continue growing, albeit at a slower pace, with a forecasted 5-year CAGR of 1.36%. By 2028, expenditure is projected to reach €9.51 billion, representing a 7.01% growth from 2023.
Future trends to watch for include potential impacts from regulatory changes, shifts in consumer behavior towards electric and autonomous vehicles, and advancements in insurance technology that could influence premiums and service models.
