This year a change may be particularly worthwhile. Because of higher accident numbers and increased workshop costs, many vehicle insurance policies have become more expensive. A comparison can bring a lot, up to a few hundred euros, depending on which car you have and which tariff you choose. However, not only the price should play a role, but also the performance.
Greater willingness to change
The insurance industry is in a dilemma. On the one hand, the costs for motor vehicle policies have risen sharply in some cases, as the industry association GDV has reported. It is said that all companies were in the red. On the other hand, the competitive pressure is great, insurers are vying for new customers and are therefore prepared to gain market share through cheaper premiums – obviously with increasing success. This year, the willingness to change appears to be particularly high, as the comparison portals Verivox, Check 24 and Tarifcheck as well as the ADAC have unanimously found.
Existing customers in particular should take a close look
Not all customers are the same; this also applies to insurers. The comparison portal Verivox found that the companies are taking a two-pronged approach this changeover season. While the policies were increased for existing customers, new customers were lured with cheaper prices, said Verivox spokeswoman Nadja Feder. Apparently they were successful with the new acquisition. We saw far more substitution activity this season than last. It is very important not to terminate the existing contract until a new one has been concluded, warns the Association of Insured Persons. This ensures complete insurance coverage, says BdV spokeswoman Julia Alice Böhne.
Motor vehicle insurance premiums are rising by double digits on average
But this may also be because insurance has become significantly more expensive overall on average. Check24 reports that vehicle premiums have increased by eleven percent compared to the previous year. New figures from Verivox show average price increases across all types of insurance of 14 percent. Canceling can be worthwhile, especially if you get a cheaper offer as a new customer. The current price competition has something good for customers willing to change. Check24 found that despite the average increases due to competitive pressure, November is usually the cheapest month for a change. Because a few months ago the premiums demanded were even higher. Compared to summer, prices here have already fallen by 16 percent, according to Check24.
The customer partly has it in his own hands
However, in addition to comparing insurance policies, many people can also do other things to influence their own tariff. So it’s worth checking the kilometers driven every year. If you drive less than previously stated and correct this, you can save a lot. This also applies if you limit the circle of drivers. As a rule, the more drivers are registered for a car, the more expensive it becomes. It can also be cheaper if you no longer insure your aging vehicle with full insurance, but rather with partial insurance. The Association of Insured Persons (BdV) points out that a change is usually possible at any time.
However, the approach varies from insurer to insurer. A reverse switch from fully comprehensive to partially comprehensive insurance usually only takes place at the end of the insurance year, explains BdV spokeswoman Julia Alice Böhne. If you are willing to accept a workshop that cooperates with the insurance company in the event of damage, you will also receive a better offer. It is also advisable to pay the premiums all at once and not, for example, quarterly or semi-annually. And one option is also to increase the deductible. Some companies also offer their own telematics tariffs. Driving behavior plays a role in these tariffs. How much you can ultimately save overall depends, of course, on how high the tariff generally is. The higher, the more you can save.
Deadlines, terminations and special termination rights
Car insurance policies usually last for one year. Customers have the option to change up to one month before the contract expires. A look at the invoice is enough to determine by when you have to cancel. For most people, the turn of the year is the deadline, the month before it expires, which means that the cancellation must be received by the insurance company by November 30th. There are also so-called intra-year contracts, which, as the name suggests, were concluded within the year.
If you want, you can change insurance every year. There are also special termination rights. If the insurance company increases the premiums, you can cancel the contract one month after notification. So if you get a message from your insurance company in mid-November that it’s getting more expensive, you can cancel until mid-December. Even in the event of damage, the previous contract can be terminated, regardless of whether the insurance has paid for the damage or not. However, the damage must also have been reported to the insurance company and it must be clear whether the insurance will now cover the damage or not. You can also look for new car insurance if you change your vehicle. If the previous car is sold, the buyer takes over the old insurance. He can choose whether he wants to continue the contract in his name or whether he takes out a new policy. This applies as soon as the insurance certificate is available to the registration office.
2023-11-19 05:24:05
#Motor #vehicle #insurance #deadline #expiring #insured #people
