Car insurance prices rise by 20 percent

Car insurance prices rise by 20 percent

The prices for vehicle insurance continue to rise, as the comparison portal Verivox recently determined. Compared to the previous year, car owners currently have to pay around 20 percent more. New vehicles require an 18 percent higher liability premium, while rates for partial and fully comprehensive insurance have increased by 19 and 21 percent, respectively. Even if you changed insurance without purchasing a new vehicle, the increases were still slightly higher.

This trend continues from the previous year, and the main reason for the increase is the increased claims costs for insurance companies. These costs in turn result from increasing workshop and repair costs. So it is not a temporary phenomenon, but a continuous increase that affects the entire industry. Drivers should be aware that car insurance premiums are expected to continue to rise and therefore make timely comparisons to find the best possible deals.

It is advisable to regularly check your own insurance contracts and change them if necessary in order to save costs. As damage costs and repair costs continue to rise, insurance companies are forced to pass these costs on to the insured. It is therefore important as a consumer to actively engage with the topic and compare the offers on the market. Despite the rising prices, there are still ways to optimize your own car insurance costs.