Motor vehicle insurance: Finanztip shows rate characteristics with savings potential

September 30, 2022 – Just in time for the traditional November 30 end date, which still applies to many auto insurance companies, recommendations for an optimal auto policy are on the rise. Finanztip, which intends to publish a comparison of providers in mid-October, sees a “particular” need for savings for consumers in 2022. Therefore, it must be activated in the characteristics of the rate and annual mileage.

“Retrospective mileage reporting will be possible in 2022 with many more insurance companies than at the start of the pandemic,” Kathrin Gotthold, motor vehicle insurance expert at Finanztip Verbraucherinformation GmbH, said Thursday morning during a press conference. .

In 2020, only every second of the 33 auto insurers asked to correct mileage retrospectively for the current year. In 2022 there will already be 29 providers.

overestimated mileage

Customers tended to overestimate their own mileage, meaning too expensive, according to Gotthold. According to the financial council, 5,000 more kilometers traveled cost up to 15 percent more contribution. Customers should “truly state and defensively estimate mileage,” advises the expert. But you have to be active yourself.

In 2020, Finanztip surveyed the largest car insurers that society noted as particularly cheap (VersicherungsJournal October 1, 2020). In 2022 the group of participants was the same.

Comparison of ten model clients

Additionally, Gotthold showed savings potential for the most common fare features. In August and September 2022, Finanztip evaluated up to 30 cheaper offers on the Nafi GmbH (Nafi-Auto) comparison portal for ten sample customers and varied the characteristics accordingly:

  • Pay annually instead of monthly: Up to nine percent savings potential.
  • Loyalty of the workshop: up to eleven percent.
  • Excesses in comprehensive insurance: 150 euros save an average of 20 percent, 300 euros save 28 percent.
  • Driver Group Restriction: Spouse or common-law partner does not increase the premium as an additional driver on average. For novice drivers as an additional driver, the average surcharge is 95 percent.

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Expensive problem with electric cars

When it comes to insuring electric cars, Gotthold cautions against expensive premium fees. One could “quickly slip” into such a situation if looking for unlimited maximum compensation for consequential damage from marten bites, especially on portals.

Given the magnitude of this damage, such coverage for electric cars makes a lot of sense. However, intermediaries and clients must seek coverage from the insurer through a subsequent increase.

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