Motor vehicle insurance: Sudden price fluctuations - experts recommend monitoring rates over the long term

Motor vehicle insurance: Sudden price fluctuations - experts recommend monitoring rates over the long term

According to a report by www.tagesschau.de, studies by the money guide “Finanztip” have shown that the prices of many car insurance policies fluctuate sometimes on a daily basis, regardless of the risk of accidents. According to expert advice, consumers should therefore monitor their tariffs in the long term. The investigation showed that price drops and jumps of up to 160 euros in annual fees could be observed within 24 hours, even for the same tariff and customer. These fluctuations indicate that, in addition to the adequate risk prices, there is also a selling price that can fluctuate significantly. Prices vary greatly, especially in the changing season before the end of the year.

For the insurance industry, this realization means that the traditional understanding that the premium essentially results from the risk of causing damage is outdated. Risk assessment alone cannot justify the observed price fluctuations. Inflation, caused by rising repair costs, is also hitting the insurance industry. Experts assume that insurers will dig deeper into their bag of tricks in the coming round of poaching.

These findings show that the auto insurance industry is facing significant challenges as it feels increased pressure to provide competitive pricing due to rising costs. Consumers are therefore encouraged to compare their tariffs regularly over a longer period of time in order to benefit from possible price advantages.