Plus 8.5 percent: car insurance is significantly more expensive
Car insurance prices are through the roof. Partially comprehensive premiums, in particular, are being boosted by rising storm damage. It is worth taking a closer look when choosing a tariff.
meFor the first time since fall 2020, median auto insurance prices are above the previous year’s level. Partial full rates are the main driver: they are currently 8.5 percent more expensive than twelve months ago. This is the result of an evaluation by the Verivox comparison portal, which is exclusively available to WELT AM SONNTAG. At the same time, the price differences are huge: 26 percent fall between cheap and moderately expensive fares.
There’s a reason average part-comprehensive premiums in particular have risen sharply recently: “In 2021, insurers had to pay a particularly high amount of storm damage on part-comprehensive insurance. That led to price increases in this segment,” says Wolfgang Schütz, head of Verivox’s insurance division. Not all providers have discounted these additional costs. “This is why this expensive trend in comprehensive insurance could continue. in the coming months”, fears Schütz.
At the start of the price swing, low auto liability and comprehensive insurance prices still hid rising comprehensive rates. In the meantime, however, higher liability prices are also contributing to higher prices in the auto insurance market. These increased by 3.6 percent. The still low premiums in the comprehensive insurance segment have a cost-cutting effect. Drivers here today pay an average of five percent less than they did a year ago.
In the mix of all types of insurance, average prices have been above the level of the previous year since the end of the year, having previously been cheaper throughout the year. This was also due to the Corona crisis, in which people drove significantly fewer cars and accidents occurred less frequently.