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Motor vehicle insurance 2024: Type class changes for millions of drivers - financial expert explains who is affected and how you can save.
According to a report from www.merkur.de, car insurance will become more expensive for around seven million drivers from 2024. This particularly affects models such as the Ford Focus 1.0 and the Audi Q5 50 TDI Quattro, which are each three model classes more expensive. Around 70 percent of drivers will be spared from these changes, while 5.4 million will benefit from better classified type classes. These changes are based on statistics from the GDV, which take into account the damage balances from 2020 to 2022 and incorporate them into the classification of the type classes. The impact on the market is significant. Especially car models like the Honda Jazz 1.5 Hybrid, ...
Motor vehicle insurance 2024: Type class changes for millions of drivers - financial expert explains who is affected and how you can save.
According to a report from www.merkur.de, car insurance will become more expensive for around seven million drivers from 2024. This particularly affects models such as the Ford Focus 1.0 and the Audi Q5 50 TDI Quattro, which are each three model classes more expensive. Around 70 percent of drivers will be spared from these changes, while 5.4 million will benefit from better classified type classes. These changes are based on statistics from the GDV, which take into account the damage balances from 2020 to 2022 and incorporate them into the classification of the type classes.
The impact on the market is significant. In particular, car models such as the Honda Jazz 1.5 Hybrid, which is four levels more expensive in the fully comprehensive class, are potentially becoming less attractive for buyers. This could lead manufacturers to reduce production of these models, which in turn affects competitiveness in the market. In addition, drivers whose models are rated more expensive could be affected by higher insurance premiums, which increases their everyday expenses.
On the other hand, almost 13 million drivers will get cheaper driving thanks to the new model classes. Models such as the Suzuki Ignis 1.2 all-wheel drive and the Dacia Jogger 1.0 are rated three and two classes cheaper respectively. This may make these models more attractive to potential buyers, which could have a positive impact on sales of these models.
Overall, car insurance will become more or less expensive for a significant number of drivers depending on how their models are reclassified. This has a direct impact on their monthly expenses and financial planning. Car owners should therefore carry out a type class query before purchasing a vehicle in order to estimate the long-term costs of the new model.
Read the source article at www.merkur.de