Motor vehicle insurance will be more expensive from 2024: Millions of drivers affected - financial expert explains how the new type classes will affect.

Motor vehicle insurance will be more expensive from 2024: Millions of drivers affected - financial expert explains how the new type classes will affect.

According to a report from www.merkur.de, motor vehicle liability insurance will be more expensive for some vehicle models next year. Around 7.4 million drivers will be affected, while around 70 percent of drivers will not see any changes. For example, the type classes of the Ford Focus 1.0 and the Audi Q5 50 TDI Quattro each deteriorate by three levels. However, around 5.4 million can benefit from better type classes.

What does this all mean for the car market and consumers? Motor vehicle liability insurance will be more expensive for some drivers due to the new type classes from 2024. This can mean that potential buyers have to carefully consider a new vehicle model as the insurance costs would now be higher. In addition, the higher costs could lead some drivers to think about switching insurance.

In addition, the increase in type classes also means that car owners, especially of more expensive models, have to pay higher insurance premiums. More expensive models such as the Audi RS6 Avant or the BMW X6 M50D could be more affected by the increased insurance costs. This could in turn impact sales of high-priced vehicles.

The higher type classes could have an impact on the number of new registrations across the entire industry. Consumers may find it more difficult to afford a new vehicle, especially when insurance costs rise. As a result, sales and revenue for many car manufacturers could suffer. In addition, lower model classes for older models and small cars could lead to increased demand for these vehicles.

Overall, the new type classes from 2024 will have an impact on the affordability of cars and could therefore influence the car market and various consumer groups.