Changing car insurance: What is important and why acting now is important

Changing car insurance: What is important and why acting now is important

According to a report by www.fr.de, car insurance prices are currently rising everywhere, and switching can save you money. The deadline for a change is November 30th, and the cancellation of the old insurance must be received by the insurer by this date. A change may be worthwhile, as there will be double-digit percentage increases in contributions this year. It is advisable to compare the different offers before switching to get the best price. In addition, there are certain criteria that the new insurance should meet.

As an economic expert, it is important to analyze how the premium increases and the switch date may affect the market and consumers. The rising prices for motor vehicle insurance could lead to insured people increasingly looking for cheaper alternatives. This could lead to an increase in demand for insurance comparison portals and reports, which in turn could increase competition in the insurance industry. Insurance companies may be forced to make more attractive offers in order to retain or attract customers.

The fact that cancellation of the old insurance must be received by November 30th could lead to increased pressure on insurance companies as they may be faced with more cancellations. This could negatively impact their customer loyalty and revenue. On the other hand, it could have a positive impact for consumers as insurers may be willing to offer more attractive offers or discounts to retain customers.

Overall, the premium increases and the switch date may lead to increased dynamism in the insurance market, which could have a significant impact on both consumers and insurance companies.