How the number of drivers influences the costs of car insurance and how you can save costs

How the number of drivers influences the costs of car insurance and how you can save costs

According to a report from www.capital.de,

There are numerous situations in which someone other than the vehicle owner is behind the wheel. All drivers must be declared to the insurance company in order to avoid expensive additional payments in the event of damage. The most flexible solution is also the most expensive: the arbitrary group of drivers. The larger the group of drivers, the more expensive the car insurance becomes. According to a current analysis by the comparison portal Check24, any group of drivers increases the insurance premium by an average of 217 percent. Factors such as the age of the policyholder, the mileage and the engine performance of the vehicle also have a significant impact on the insurance costs.

A higher mileage of 35,000 kilometers instead of 12,000 kilometers per year leads to an average of 75 percent higher costs. A 75-year-old policyholder pays 68 percent more compared to a 45-year-old person. If the engine power of the car is significantly higher (290 hp instead of 116 hp), the annual fee increases by 62 percent. When choosing car insurance, it is important to pay attention to the services that suit the individual and to provide all information truthfully, as cheating is a bad idea and can jeopardize insurance coverage. In existing contracts, contributions are currently rising sharply, averaging over ten percent, so changing insurance will be worthwhile in many cases.

Experts therefore recommend terminating old contracts by November 30th of each year at the latest in order to save costs. In addition, models other than the unlimited policy can help to reduce costs, such as limiting specific drivers such as partners or children, comparing different providers, entering an age range instead of specifying individual drivers, or temporarily registering drivers for a limited time. It is therefore advisable to examine various options in order to make your vehicle insurance comprehensive and yet cost-effective.