Balearics seventh most expensive place in Spain for car insurance

THE Balearics is the seventh most expensive place in Spain to insure your car: third party insurance costs an average of 586 euros, 15 euros above the national average, while fully comprehensive costs an average of 1'565 euros, 12 euros more than the national average, according to a study by the RACC Automobile Club between March and April this year. The study was presented by the director of the RACC insurance brokers, Alberto Valero, who attributed the high prices to the high accident rate on the islands (369 accidents for every 1'000 residents in 2004), which is slightly higher than the national accident rate (355 accidents for every 1'000 residents). “This explains the high prices of policies in the Balearics and we will have to wait for a fall in this rate before prices can fall”, said Valero. He was speaking at a press conference in the company of the RACC delegate in the Balearics, Rafael Nicolau. By island, Majorca in the most expensive for both third party and fully comprehensive, followed by Ibiza (5.6 percent less and 5.5 percent less respectively), Formentera (10.9 percent and 8.3 percent less) and Minorca (16.2 percent and 11 percent less).