Check changing your car insurance now: it will be more expensive in 2025!

Check changing your car insurance now: it will be more expensive in 2025!

The coming year 2025 will be challenging for consumers in Germany when it comes to vehicle insurance. Loud rp-online.de Premiums are expected to continue to rise. This development is not new, as the costs for vehicle insurance have already increased noticeably in previous years. In the context of these price increases, insurance expert Elke Weidenbach from the North Rhine-Westphalia Consumer Center recommends thinking about changing your insurance.

Particularly given the fact that many motor vehicle policies can be regularly canceled and re-taken out until November 30th, it makes sense to take a closer look at the various offers on the market. Weidenbach points out that the cheapest contract is not necessarily the best and that consumers should compare the terms and conditions carefully.

Cost factors and market conditions

The cost pressure in motor vehicle insurance is becoming louder demv.de will remain in place in 2025. The market is confusing because large discounts from large insurers are hardly to be expected. While smaller or new providers may have aggressive pricing policies, consumers should be cautious. Low prices may not be sustainable in the long term and could be compensated for elsewhere, such as in customer service or claims processing.

The risks that exist when offering new insurance policies should not be underestimated. New companies often cannot rely on the profits of other insurance lines. This can lead to customer frustration, as previous observations have shown. It makes sense for brokers to check whether cost advantages can be created for customers by accepting no-claims discounts or special classifications.

The importance of car insurance

Motor vehicle insurance is the largest division within property and casualty insurance in Germany. This includes the statutory motor vehicle liability insurance as well as comprehensive insurance. Motor vehicle liability insurance covers damage caused to third parties as a result of the operation of a motor vehicle.

The Statista shows that a total of 94 companies in Germany offered motor vehicle liability insurance in 2023. Allianz was the largest provider with a market share of around 10% of the total 70.4 million motor vehicle liability contracts. The average annual premium for motor vehicle liability insurance was around 256 euros.

In addition, comprehensive insurance, which is divided into partial and fully comprehensive insurance, offers further protection. Partially comprehensive insurance protects against, for example, glass breakage, accidents with wild animals or theft, while fully comprehensive insurance also covers damage caused by your own fault and malicious actions of third parties. The average annual premiums are around 82 euros for partial insurance and around 333 euros for fully comprehensive insurance.

Given all of these factors, consumers should carefully consider and become fully informed about the upcoming changes and the possibilities of changing their insurance.