Motor Vehicle Insurance in Germany: Willingness to Change on the Rise

Motor vehicle insurance in Germany: Are thoughts of changing on the rise? A survey shows: The majority of drivers remain loyal to their car insurance, but those who want to change often put their decision to change into action.

According to a current ADAC survey, almost half of drivers in Germany are currently thinking about changing their car insurance. Specifically, 46 percent of all drivers are currently open to switching, while 51 percent say they are not considering doing so. Last year, 55 percent were still firmly convinced that they would remain loyal to their insurance company.

Reviewing and switching auto insurance policies are common, especially in the last few months of the year. This is because the insurance year for most drivers ends on December 31st and cancellations must be submitted by the November 30th deadline at the latest.

In the ADAC survey, 38 percent of drivers are thinking about changing their car insurance, while 8 percent have already taken this step. The willingness to change insurance also depends heavily on the age of the driver. The willingness to change is particularly pronounced in the 30 to 39 year old age group. Here, almost two out of three respondents are open to a change, with 50 percent thinking about it and 12 percent having already decided. However, among drivers over 60, 67 percent remain loyal to their existing insurance.

The survey also provides insights into drivers’ actual switching habits in the past. A third of those surveyed have already changed their vehicle insurance several times (29 percent) or even very often (5 percent). However, most drivers (44 percent) say they rarely change. 21 percent have never chosen another insurance company.

The survey also reveals drivers’ preferences regarding their car insurance. For half (50 percent) performance and service are more important, while 27 percent put price in the foreground. 22 percent could not decide on this question.

Young drivers are particularly price-conscious, although 40 percent in the 18 to 29 age group also give preference to performance and service, while 30 percent consider price to be more important.

Although willingness to switch is comparatively high, most respondents want to remain loyal to their vehicle insurance, probably due to the overall positive ratings of vehicle insurers from their customers. 90 percent are satisfied or very satisfied with the scope of their insurance, 83 percent with the customer service and 75 percent with the price. Motor vehicle insurers are particularly satisfied with drivers between the ages of 50 and 59. In this age group, 94 percent are satisfied or very satisfied with the scope of services, 86 percent with the customer service and 85 percent with the price.