Savings on Auto Insurance – Affordable

Sedan. Financially, motorists are currently going through a wringer from several sides. Rising fuel costs are just one of the factors driving the price. Replacement parts or services such as oil changes have also become massively more expensive. According to the consumer portal Finanztip, an oil change this year cost 25 percent more than in 2017.

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Even auto insurance doesn’t know bargain prices anymore. Car owners pay an average of 425 euros a year for it. Another hammer threatens here in the next year. According to the estimates of the great reinsurer Munich Re, the premiums for 1923 must increase by ten percent simply because of inflation.

The change of season is just around the corner

Comparing the prices of the liability and comprehensive insurance policies offered will be one of the few ways to limit car expenses this year. The change of season is just around the corner. Until the end of November, most motorists can take care of better contracts at the beginning of the new year.

A second option is to adjust the characteristics of the rate, as emphasized by Finanztip expert Kathrin Gotthold. “We’ve identified a particular savings potential this year,” she says. According to Gotthold, this potential lies in a change in driving behavior as a result of the corona pandemic and rising fuel prices. This can affect the cost of car insurance. If you drive less, you have to pay a lower premium for the policy, for example. For example, if the insured person estimated an annual mileage of 15,000 kilometers when the contract was signed, but only drove 10,000 kilometers, he paid nine percent more for liability insurance than necessary.

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Therefore, it makes sense to report a realistic value to the insurance company. “Estimate honestly but defensively,” advises Gotthold. Looking at the odometer reading and the insurance contract can also be worthwhile in retrospect. According to Finanztip, more and more companies are granting a subsequent mileage adjustment, with the corresponding cost reduction.

Car owners should also take another look at other features at the change of season. Because even small changes quickly bring a cheaper rate. This includes, for example, the payment method. If your premium is withdrawn monthly, you pay nine percent more than if you pay annually. Even switching from a semi-annual to an annual payment brings a three percent relief. Another element is the workshop connection. Getting involved means eleven percent less premium.

A deductible for partially comprehensive insurance also pays off in lower costs. A franchise of 150 euros reduces them by 20 percent on average. Plus: if the car is getting old, you can already do without full protection. Liability and partial liability insurance are significantly cheaper for policyholders.

Cancellation only in writing

There are also significant price differences between providers. How big they are for the 2023 contribution can’t be said yet. Rates are only gradually coming onto the market. They will be available in mid-November. With a few entries on internet comparison portals, you may be able to find a better deal and replace the old insurance with a new contract. This is usually possible until the end of November. The termination must be in writing in any case, depending on the contract an email is sufficient or it must be sent by letter.

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However, for about 37 percent of motorists with pure vehicle liability insurance, the regional class will change next year. This was announced by the General Association of the German Insurance Industry (GDV). Around ten million drivers in 101 districts will be ranked higher in 2023, around 5.5 million in 67 districts lower. For the remaining 244 districts, and thus about 26.8 million owners with motor vehicle liability insurance, the regional class remains the same.

Due to a reorganization of the class limits, there are comparatively many changes in the classification of motor vehicle liability insurance this time: According to the GDV, only 24 instead of 55 districts reach the lowest regional class 1: the district from Elbe-Elster in Brandenburg performs better. In the highest, ie worst, 12th class, instead of the previous 19, only two registration districts are now ranked: Offenbach and Berlin at the bottom.

The better the ranking in the regional class, the cheaper the insurance premium, which is also determined by other parameters. According to the comparison portal Check24, this single criterion can still have a noticeable effect on the price of the policy: only due to a different registration district is the difference of up to 260 euros with identical insurance characteristics.

Good to know: According to the portal, you have a special right of termination if the insurance premium increases as a result of a district’s reclassification to a higher regional class. (with dpa)


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