a group purchase to lower prices, the first in France

Group buying to obtain discounts: The concept exists for energy, telephony, supplementary health insurance or even home insurance. It is now possible for car and motorcycle insurance, reports The Parisian. A national group shopping service has been offered since Thursday by the online comparison Selectra in collaboration with the association Families of France. A first in France in this sector.

Vehicle insurance is an important expenditure item for the French. It costs an average of 640 euros per year for motorists and 500 euros for motorcyclists. And prices tend to rise. “It has increased by 16% over ten years, in the high average of inflation”, Luka Payras, director of the finance and insurance department at Selectra, explains to the daily. In 2023, the increase should not exceed 3% on average as this year.

No upfront fees and no obligations

People interested in this group purchase have three months to pre-register on the Selectra site. There are no fees for advances and no commitment. Selectra seeks to mobilize a maximum of subscribers to have weight with insurance companies. The tender will be launched in February next year and the final choice of insurance company will be made in March. Subscriptions can then begin.

“We have to see what the companies can offer the best in terms of price, guarantee and service quality”, states Luka Payras, who clarifies that the offer must correspond to the “maximum number of profiles”.

In 2021, Selectra and Families of France launched a group purchase for home insurance. Almost 15,000 people had pre-registered and they were ultimately 1,700 who had subscribed to the Assurtech offer. The startup offered three free months of contributions for a one-year commitment, equivalent to a 25% discount on the price the first year. Luka Payras hopes to make it even better for car insurance.

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