The Greek auto insurance market is expected to see a significant decrease in the frequency of claims but a simultaneous increase in claims costs in 2025, according to a new study by the Hellenic Association of Insurance Companies (EAEE).
The survey, based on preliminary data from 25 insurance companies covering 96.3% of the market, shows that the number of insured vehicles exceeded 7.18 million, up from 6.37 million in 2024 and 6.29 million in 2023.
At the same time, total premium income in the auto sector is estimated at €1.33 billion for 2025, an increase of 7.3% compared to the previous year. The sector continues to be one of the most important pillars of the insurance market, accounting for 40% of property and casualty insurance and 22% of total life and property and casualty insurance premiums.
Decline in claims frequency
According to the study’s data, the average loss frequency across all coverages fell to 7.92% in 2025, from 9.37% in 2024 and 9.58% in 2023.
A similar trend is observed in motor vehicle liability insurance, where the claims frequency decreased to 5.81% from 6.87% in 2024.
Buses and taxis continue to have the highest loss ratios. For 2025, the loss frequency for buses stood at 46.4%, while for taxis it was 31.32%. In contrast, agricultural machinery (1.58%) and private-use motorcycles (2.53%) show the lowest rates.
Compensation costs are rising
Despite the decline in accidents, the cost of claims continued to rise. The average claim cost across all coverages reached €1,361 in 2025, up from €1,344 in 2024 and €1,265 in 2023.
An even greater increase is recorded in motor vehicle liability insurance, where the average cost of compensation reached €1,500, compared to €1,410 in 2024. The highest average claims in motor liability insurance are found in rental passenger vehicles (€1,746), taxis (€1,601), and construction machinery (€1,630).
Passenger cars dominate the market
Private passenger cars continue to dominate the market portfolio, accounting for 63.8% of insured vehicles, with more than 4.58 million vehicles. Motorcycles follow with a 17% share, while trucks, farm vehicles, and buses together account for approximately 16% of the market.
The "most expensive " prefectures
The survey’s geographic analysis reveals significant variations by region. The highest frequency of claims under civil liability insurance is found in Attica at 7.54%, while in the Municipality of Athens specifically, it reaches 8.43%. High rates are also seen in Achaea (6.27%), Heraklion (5.84%), and Thessaloniki (5.81%).
In terms of compensation costs, the most expensive claims are recorded in Kavala, with an average cost of €2,009, and in Chalkidiki, at €2,005. These are followed by Fokida at €1,891 and Grevena at €1,875.
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