More expensive insurance premiums in 2024: How drivers can save costs

More expensive insurance premiums in 2024: How drivers can save costs

According to a report by factastic.de, the type classes for millions of drivers will be raised from 2024, which will lead to rising insurance premiums. The classification of vehicles into the different type classes has a direct impact on liability insurance as well as partial and fully comprehensive insurance and makes up a large part of the car's maintenance.

According to expert reports, the differences in the amount of the contribution can vary drastically. The classification of vehicles is based on statistical values ​​and the car's accident record. Compared to the previous year, around 7.4 million drivers are said to be affected by higher insurance premiums. In order to avoid increased costs, consumers are advised to check the type class statistics before purchasing a new or used vehicle to determine how high the insurance premium may be.

The impact on the market and industry is serious as rising insurance premiums increase the financial burden on car owners and can potentially impact car purchases and the used car market. For affected consumers, rising costs represent additional financial pressure that may impact their spending.

The recommended measures to avoid high insurance premiums, such as checking the model class before buying a car, can help reduce the financial burden. It is also advisable to regularly check the current type classes, as changes in the classes can affect insurance premiums.

Overall, rising insurance premiums can result in significant financial impacts for millions of drivers, requiring careful planning and consideration to minimize the financial burden.