Motor vehicle insurance: Why switching now is particularly attractive and how you can save money

Motor vehicle insurance: Why switching now is particularly attractive and how you can save money

According to a report from www.rga.de, the motor vehicle insurance business will pick up speed in the fall. Many insurance companies become active in October and November, as it is possible to change insurance on November 30th. A change could be particularly worthwhile this year, as the number of accidents has recently increased and car and motorcycle insurance will be more expensive from next year. Experts expect a price increase of at least ten percent. According to the NRW consumer advice center, switching from the most expensive to the cheapest insurance can sometimes save several hundred euros per year. However, it should be noted that not only the price but also the insured services are important in order to avoid trouble in the event of damage.

It is generally recommended to check your current vehicle tariff, especially if you have been insured with the same insurance company for many years. Many companies offer discounts, especially to new customers. However, it is also worth asking the current provider whether a discount or a cheaper tariff is possible. Comparison portals on the Internet offer a practical way to compare prices, but they do not have a complete overview of the market. It is recommended that you also go directly to the websites of various insurance companies. To change, you usually need your driver's license, the vehicle registration document, the last premium invoice from the previous insurer with the contract number and the mileage of the vehicle.

Consumer advocates emphasize that it's not just about financial savings, but also about insurance benefits. A high sum insured in liability insurance and gross negligence in comprehensive insurance are important criteria. Anyone who has found a new contract can usually cancel the old one by December 31st. However, an informal letter must be verifiably received by the previous provider by November 30th. Under certain circumstances, cancellation is still possible after this date if the insurer increases prices. It is recommended not to cancel the old contract until the new contract is secure. After analyzing the article, it can be concluded that the increase in the number of accidents leads to an increase in the price of car insurance. This, in turn, could lead to increased insurance switching as consumers look for cheaper rates.