Plus 8.5 Percent: Auto Insurance Is Getting More Expensive

Business rising premiums

Plus 8.5 percent: car insurance is significantly more expensive

Anna Kunz

In 2021, insurers had to pay a particularly high number of partial hull storm damages In 2021, insurers had to pay a particularly high number of partial hull storm damages

In 2021, insurers had to pay a particularly high number of partial hull storm damages

Source: pa/Geisler-Photopress/Thomas Bartilla/Geisler-Photopress

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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.

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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.

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In order to display the embedded content, your revocable consent is required for the transmission and processing of personal data, as the providers of the embedded content require this consent as third-party providers. [In diesem Zusammenhang können auch Nutzungsprofile (u.a. auf Basis von Cookie-IDs) gebildet und angereichert werden, auch außerhalb des EWR]. By setting the switch to “on”, you agree to this (which can be revoked at any time). This also includes your consent to the transfer of certain personal data to third countries, including the US, in accordance with Art. 49 (1) (a) of the GDPR. You can find more information about it. You can withdraw your consent at any time through the switch and privacy at the bottom of the page.

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