Entertainment bargain hunt in car insurance has begun

11:50  17 october  2021
11:50  17 october  2021 Source:   welt.de

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In car insurance, the annual bargain hunt has started with cheaper rates.

Die Preise für Kfz-Versicherungen sinken - auch durch weniger Unfälle im Corona-Jahr 2020. © Sebastian Gollnow / dpa The prices for car insurance decreases - also by fewer accidents in the Corona year 2020.

The prices of car insurance is already fell by numbers of online portals check24 and Verivox in recent weeks, the Two companies resident in Munich and Heidelberg expect further decreasing prices over the next few weeks.

car contracts significantly cheaper

According to Verivox insurance index, the prices for new car contracts - liability, part comprehensive and fully comprehensive insurance - partly much cheaper than a year ago - in the middle price segment depending on the type of insurance by three to four percent, in the lower segment Seven to eight percent. In cooperation with the statistician Wolfgang Bishop, the company exceeded the prices of the first ten October days from the Technical University of Rosenheim. Every year change date for a timely termination at the turn of the year is the 30th of November.

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According to the numbers of CHECK24, the average motor vehicle liability contribution is currently at 279 euros. That would therefore be 2.4 percent less than a year ago and 14 percent less than in July. The portals provide a variety of insurance contracts online. The two companies are competing and largely matched in their fundamental analysis.

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Accordingly, there is a reason for the currently reasonable prices the Corona Pandemic. "Much suggests that we are now experiencing a delayed Corona relief, which was still failed last year," said Wolfgang Schütz, Managing Director of VeriVox insurance comparison.

Less accidents

because 2020 was for insurers for corona restrictions and two Lockdowns one year with low charges, as there were fewer accidents than usual. In total, the 91 car insurance in the liability paid 13.3 billion euros to the customers, which were worth ten percent less than in 2019. This is the overall association of the German Insurance Management (GDV).

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"The insurers had to regulate less accidents last year through a lower driving performance in the Corona pandemic and, in some cases, passed on this savings to their customers," said Rainer Klipp, Managing Director CTC Insurance at Check24.

"Whether the trend also stops for the year-end business is uncertain because most recently, for example, through flood or hail, the elementary damage and thus the costs for insurers have increased," said the manager.

cheaper new contracts do not mean that car insurance is cheaper overall. Because inventory contracts are often more expensive, including some car models in the course of their vehicle life in more expensive type classes. Used cars are often bought by younger drivers, which create more accidents on average. And apart from that, insurers have been complaining for years that the auto industry continues to increase their spare parts prices. According to GDV, the premium income of the car insurers in motor vehicle liability 2020 increased by 1.2 percent to just under 17 billion euros.

Second-hand car prices surge amid new car shortage .
Some used car models are growing in value despite getting older, research by the motoring group suggests.Research by the motoring group suggests the price of the UK's most popular cars have increased up to 57% since 2019.

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