This is how much you can save

Everything important at a glance

Changing car insurance: This is how much you can save

If you switch, you can save a lot of money – because new customers get better offers. But what matters when choosing new car insurance? Everything important at a glance.

By changing your car insurance you can save several hundred euros a year. New customers often receive cheaper tariffs than existing customers. But there are a few things to consider when making the switch.

The price of insurance is made up of various components such as age, driving experience, place of residence, vehicle and no-claims discount (SF discount). The service package also plays a role. In addition to the common online comparison portals, also visit the insurers’ websites. Because the portals do not always list all offers. It may also be worthwhile to talk to your current insurer about possible tariff adjustments.

You should carefully check which benefits are included in a new policy. For motor vehicle liability, experts recommend a coverage amount of 100 million euros and at least 15 million euros coverage per injured person. There should be no reduction in comprehensive insurance in the event of gross negligence and wildlife accident protection should ideally apply to all animals. In addition to direct damage caused by marten bites, partial comprehensive insurance should also cover consequential damage of up to at least 5,000 euros. With fully comprehensive insurance, a new price compensation of at least 12 months makes sense.

If you have been insured for a long time and have a so-called discount saver in your old contract at no extra charge, you should check whether the new provider is keeping it. New contracts usually offer a discount saver for an additional charge of around 20 to 30 percent, which often allows one claim per year without being downgraded to a worse class. Be sure to ask the new provider whether the class will be retained when you switch.

If you want to save additional money, you can pay the insurance premium all at once. According to experts, the savings are often five percent compared to quarterly payments and three percent compared to semi-annual payments. Direct debit also saves money compared to bank transfers.

In order to change insurer, the cancellation must be received by the previous provider by November 30th. All you need to do is send an informal letter with the date, signature, contract number and symbol as well as a request for confirmation that the contract ends on December 31st. To be on the safe side, the letter should be sent by registered mail a few days in advance. By the way, contracts can also be canceled by email or fax.

Important: For some insurers, the contract year does not end on December 31st, but exactly one year after the contract was concluded. In this case you must cancel one month in advance. You also have a special right of termination in the event of price increases after November 30th.

It may happen that the desired insurer does not include everyone in comprehensive insurance, for example for very expensive cars. Therefore, only cancel with the old provider after you have found a new one.