Cancel car insurance: Financial expert explains important tips and deadline

Cancel car insurance: Financial expert explains important tips and deadline

According to a report by www.wa.de,

You should cancel your car insurance in good time, as the contracts usually expire at the end of the year and are automatically extended for a further twelve months. In most cases, the important deadline for termination is November 30th. It is advisable to compare the tariffs of different providers before switching and keep an eye on the notice period. The notice period is usually one month, even if car insurance has its own rhythm. However, there are exceptions, especially in the event of major damage or a price increase.

When choosing new insurance, you should not only consider the price, but also the services included. Various factors such as the model of the car, the engine power, the place of residence, the age of the driver, the profession, the kilometers driven annually, the type of parking space and the no-claims class influence the contribution to vehicle insurance. It is important to also pay attention to the insurance benefits, such as high coverage amounts and special tariff options for electric cars.

More than 7 million car owners are threatened with an increase in vehicle insurance due to new model classes, so it can be worthwhile to compare the different offers and providers. By switching and observing the notice period, consumers can save a lot of money.

Overall, it shows that a careful examination of motor vehicle insurance, especially with regard to the notice period and the services included, as well as a comparison of different offers, can help to reduce consumers' expenses and realize possible financial advantages.