At the moment, an incredible number of motorists are canceling their vehicleinsurance. A current evaluation of the termination service Aboalarm shows that four out of five cancellations take place in October and November. And this year the number of cancellations has increased by a whopping 11 percent compared to the same period in 2020. You too should think about canceling your car insurance. Because: This year, a change is particularly worthwhile for many drivers.
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Terminate car insurance: These reasons speak for it
The reason is that the prices have dropped significantly in some cases. “Due to the corona-related restrictions, fewer accidents have occurred, which is reflected in the insurance premiums,” explains Felix Riesenberg, a spokesman for Aboalarm. The insurers pass on the savings from less regulated accidents to their customers. However, Riesenberg emphasizes, drivers shouldn’t wait for their vehicle insurance to come to them, but take action themselves. He recommends reporting the fewer kilometers driven this year to the insurer and comparing the tariffs for the coming year. Because many people were in the home office or on short-time work and tended to stay at home instead of visiting relatives, most of them are likely to have driven fewer kilometers.
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The corona pandemic is not the only reason why prices are falling. Basically, the prices for motor insurance fall at the end of the year. “The car insurers reduce prices from August to November by around four percent so that they can win new customers in the competition,” explains Riesenberg.
The countdown is on: there are only a few days left
However, if you want to cancel your car insurance and switch to a cheaper tariff, you have to hurry. Drivers still have the option of taking out inexpensive car insurance until November 30, 2021 and, according to the experts, can save many hundreds of euros per year. The average savings potential for a change in car insurance rose to currently 27 percent. Customers who have never changed their provider benefit the most.
