Smart savings on car insurance

D.With high inflation, there are good reasons for consumers to scrutinize all the unnecessary spending. On average, German drivers pay around 250 euros for a motor vehicle liability policy, which is mandatory, and slightly higher premiums for (comprehensive) protection for their own car. The comparison portals calculate every year that there is potential for savings.

This year, the response has been particularly strong, especially among consumers who have already saved on their regular expenses. Despite the fierce competition in this line of business, insurers will not be able to avoid raising prices if they do not want to risk becoming unprofitable.

When it comes to insurance, there are smarter and less smart ways to save. In no case should consumers reduce essential services to increase their risk. Reducing the sums insured or choosing insurers with bad financial reasons is not a solution. On the other hand, it may make sense to switch years later to a competitor that has comparatively good indicators but offers the same contract content at a lower price.

It may be helpful to learn about alternative offers and talk to your own insurer. Providers have no interest in losing old customers whose driving data they have fully documented have shown to be beneficial risks.

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