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Price increase in motor vehicle insurance: drivers are hit hard
Car insurance is becoming more expensive: repair costs are rising. Find out why prices are rising and what impact this has on drivers. Protect your vehicle and save money.
Price increase in motor vehicle insurance: drivers are hit hard
Drivers in Germany have to be prepared for permanently rising costs for their vehicle insurance, as repair costs continue to rise. The price increases in the auto insurance industry are clearly noticeable as hundreds of providers compete for the attention of drivers. The ten largest providers only dominate 58 percent of the market, which illustrates the fragmentation of this industry, according to Jan Dirk Dallmer, board member at Kravag Versicherung, which is part of the R+V Group. As a result of these developments, insurance premiums are expected to continue to rise in the long term.