Car insurance: why does my premium go up?

[Alberto]

Check24 informed me my current car insurer will up my premium, 173€ to 215€. I've had no accident and no claims for at least the last 5 or 6yr.
Why the premium increase?

[HEM]

Because the costs of accidents i.e. repairing cars has increased?

[Fraufruit]

Ours went up a lot this year, too, with no claims.

We got a 12% discount for safe driving. Still went up.

Inflation.

[Franklan]

While the answers to your question are all good up to now, and we're all set... However, you will not get a "correct" answer (considering "academic level") without posting a scan of the letter, to be honest.

So, scan that letter that you've got, redact the information that you do not want to disclose, and upload it here.

There are so many reasons why sh!t gets more expensive...

TBH, seversal years ago, I had a kind of similar situation. The car I bought (let's call it "Vauxhall Sh!tBox 1.2") at the age of 2 was now a car of the age of 12, and my insurance wanted a lot more money for the next year. I called my insurance broker, and he told me that my car is now the perfect "beginner's car for Papa to buy for the young unexperienced 18y old"...

[Alberto]

Thanks for the answers.

25% inflation seems excessive. Even more as I was expecting a (small) reduction because of one more year of no claim and no accident.

And again: I got the info from check24, my "broker", not from the insurer. And it says nothing more than my original post.
I expect the letter I will eventually get from the insurer will not explain. Price increases, pardon "adjustements", are never really explained in my experience, same as gas electric etc.

[Fraufruit]

Price increases are inflation or greedy suppliers gouging people. What's to explain?

[alma.freya]

Loyalty tax. New customers get good deals funded by existing customers who don't bother searching for a better deal with a new company.

[Fraufruit]

Yes. That, too. Himself is constanly shopping around for better deals. Most people I know do the same. Often, you can bargain down existing providers with the cheaper offers. Not always, though.

[Alberto]

Loyalty tax. New customers get good deals funded by existing customers who don't bother searching for a better deal with a new company.

I would say this makes sense. But as soon as I got the notification I ran a new comparison and it turned out the current offer from the current provider is the most economical.
So no, "loyalty tax" is not the answer.

[Eric7]

Car insurance generally makes little sense.
I bought an older "sports car" last year and insured it as a 3rd car, starting at SF2. The insurance is less than 50% of our boring 2l diesel BMW family car with SF20.
That's with almost 2x the PS of the BMW.
Go figure!

[Mik Dickinson]

Your car insurance is complicated.
It goes off type of car,How many cars of your type were involved in claims during the year.Where you are situated i.e. Erding is really high due to the airport.Your no claims bonus.How many km you travel in a year and how your car is parked at night.i.e. garage, carport or private parking spaces.Some insurance companies also consider your job.If you work 3 shifts your premium increases too.People working ight shift tend to have accidents

[Nixon]

My insurance went up some 25% too.

One class better than last year, no claims. Spoke to them and nothing better would be available. Same thing with Check24.

Crazy.

[Alberto]

Your car insurance is complicated.
It goes off type of car,How many cars of your type were involved in claims during the year.Where you are situated i.e. Erding is really high due to the airport.Your no claims bonus.How many km you travel in a year and how your car is parked at night.i.e. garage, carport or private parking spaces.Some insurance companies also consider your job.If you work 3 shifts your premium increases too.People working ight shift tend to have accidents

Yes yes yes yes yes and yes.
But nothing of what you mentioned changed. The only thing that changed is that I have yet one more year of no claim. Yet my premium went up 25%.

[pappnase]

How do you know how many people with the same category of car as you made claims?
Similarly you got 1 year older, so you might now be in a different risk bracket (It's not linear).
Or it might be that they got some shiny new "AI" risk analysis software and that found you belonged in a different category.

Or it might simply be that your insurers are wankers, so they offer bigger discounts to new customers to grow market share and shaft existing customers with big rises.

The fact is you will never really know why your premium went up, and all you can do is either suck it up or look for a different provider.

[Alberto]

How do you know how many people with the same category of car as you made claims?
Similarly you got 1 year older, so you might now be in a different risk bracket (It's not linear).
Or it might be that they got some shiny new "AI" risk analysis software and that found you belonged in a different category.

Or it might simply be that your insurers are wankers, so they offer bigger discounts to new customers to grow market share and shaft existing customers with big rises.

The fact is you will never really know why your premium went up, and all you can do is either suck it up or look for a different provider.

I ran a check24 comparison (immediately after they offer me the contract for next year, with upped premium) and it confirmed the 2025 contract my current provider is offering would actually still be the lowest price one. Despite the 25% increase. So no, changing provider would not lower the premium. So I can only suck it up.

[alma.freya]

If the mood currently spread by insurers alone is anything to go by, the highest wave of price increases in years is on the horizon. Among other things, they cite significantly increasing costs for repairs: according to the German Insurance Association, spare parts have become an average of 6.2% more expensive compared to 2023. Workshop hourly rates have also risen - even more sharply, by 8.6%.

https://www.finanztip.de/daily/autovers ... erte-euro/ Translated with Google.

My HUK24 Vollkasko insurance jumped from 433 € to 597 €. After asking them to recalculate it, it dropped to 491 €.

So I can only suck it up.

Yeah, along with every other car owner in Germany.