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Motor vehicle insurance: increasing contributions and regional class changes from 2024 - experts give tips
Many drivers will have to prepare for rising premiums for their vehicle insurance starting next year. It will also be more expensive for some regional classes. Those affected can change their insurance. Many car owners have already suspected it, some have already received it in writing from their insurance company: Allianz, one of the largest German insurance companies, informed its customers in advance about rising insurance costs due to higher spare parts and material costs as well as ongoing inflation. Due to the rising prices for raw materials and intermediate products, the costs of spare parts and materials in the event of vehicle damage have increased. Added to this is the current inflation, which will most likely continue next year. Car insurance premiums...
Motor vehicle insurance: increasing contributions and regional class changes from 2024 - experts give tips
Motor vehicle insurance premiums increase at the turn of the year
After billions in losses, premiums increased by around 3.6 percent
Several regional classes are becoming more expensive
Tip: If the tariff increases, check to change provider
This topic in the program:MDR AKTUELL RADIO | August 28, 2023 | 6:10 a.m
According to a report by www.mdr.de As one of the largest German insurance companies, Allianz informs its customers in advance about rising insurance costs due to higher spare parts and material costs as well as ongoing inflation. The prices for raw materials and intermediate products are rising, which leads to increased spare part and material costs in the event of vehicle damage. Added to this is the current inflation, which is expected to continue next year.
Motor vehicle insurance premiums increase at the turn of the year
The rising costs have an impact on the general development of claims and costs in motor vehicle insurance. In order to continue to cover the costs, Allianz is increasing the contributions for the coming insurance year, which begins on January 1st.
Allianz spokesman Christian Weishuber explains that customers' premiums are regularly checked and adjusted to many influencing factors. Due to the current strong inflation, the necessary contribution adjustments are higher than in the past. However, there are no nationwide premium increases for all car customers at Allianz.
After billions in losses, premiums increased by around 3.6 percent
Due to high inflation, motor vehicle insurers expect losses of more than 2.5 billion euros this year, as the General Association of the German Insurance Industry reports. The association therefore expects an average increase in premiums of 3.6 percent, which applies to both car liability insurance and fully or partially comprehensive insurance.
Several regional classes are becoming more expensive
In addition to the increased insurance premiums, many regional classes are also changing, depending on the damage balance and regional classification.
Tip: If the tariff increases, check to change provider
According to Kathrin Gotthold from the consumer portal “finanztip”, affected insurance customers have the opportunity to change their provider if a tariff increases. After receiving an announcement about a premium increase, the insured person has one month to cancel. Comparison portals such as Verivox or Check24 offer a good overview of cheaper or better contracts.
Read the source article at www.mdr.de