This makes automobile insurance coverage cheaper | EUROtoday

Many drivers are more likely to obtain disagreeable information from their automobile insurance coverage firm lately: premiums for automobile insurance coverage are rising throughout the board – estimated by a median of round 7.8 %. The motive for that is the elevated prices for damages that insurance coverage corporations needed to pay. “The costs for car spare parts are rising rapidly and are largely independent of general price developments,” says Anja Käfer-Rohrbach, deputy normal supervisor of the General Association of Insurers (GDV). While the patron worth index has risen by round 28 % since 2014, automobile producers have elevated their spare components costs by a median of just about 75 %. But not solely spare components, but in addition hourly charges in automobile workshops have grow to be considerably dearer. “Average property damage in a car’s motor vehicle liability insurance costs around 4,000 euros. Ten years ago it was still 2,500 euros,” explains Käfer-Rohrbach. Higher prices, which are actually handed on to the insured within the type of larger contributions.