Comparison: Verivox: Record price increases in car insurance

Comparison: Verivox: Record price increases in car insurance

Comparison
Verivox: Record price increases in car insurance






Almost everything has become much more expensive in the last two years. But the price increase in motor vehicle insurance still dwarfs general inflation.

Car insurance is more expensive than ever during the annual change season in late autumn. According to the motor vehicle insurance index of the comparison and broker portal Verivox, new contracts currently cost almost a quarter (24 percent) more than a year ago. This is the cut for all three types of car insurance: liability and partial and fully comprehensive insurance. According to Verivox, the reason is the sharp increase in spare parts prices and workshop costs.

Fully comprehensive tariffs are particularly expensive

The prices for fully comprehensive tariffs rose the most, with an increase of 25 percent. According to the information, car liability insurance is 23 percent more expensive than in October 2023, and partial insurance is 22 percent more expensive. In a two-year comparison to autumn 2022, according to Verivox, vehicle insurance contracts are even 40 percent more expensive.

The company calculates the index together with statistics expert Wolfgang Bischof from the Augsburg University of Technology. The figures refer exclusively to the conclusion of new policies, not to the existing contracts, which are also becoming more expensive. Every year in November and December, millions of car owners in Germany change their car insurance in search of cheaper rates.

Price increases also likely in 2026

“An end to inflation is not yet in sight and prices will continue to rise in the coming year,” said Wolfgang Schütz, managing director of Verivox Versicherungsvergleich. “Insurers are expected to adjust their premiums by 2026 in order to return to profitability.” The data is based on the offers from around 40 insurers who sell their contracts on Verivox.

dpa

Source: Stern

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts