Millions of consumers are suffering from rapidly rising prices. From January, car insurance should also cost more money. But car owners can cut their expenses.

In 2023, many motor insurers could make their policies more expensive. The North Rhine-Westphalia consumer advice center points this out. This is due to higher damage and the general cost trend.

If this is the case, insured persons can use a special right of termination. This always applies when the insurance premium increases. If you act cleverly, you can save several hundred euros a year with the new policy.

Those affected should not take out the first cheap car insurance that comes along. The consumer advice center NRW gives tips on what to look out for.

Because damage caused by car accidents can cost hundreds of thousands of euros, insured persons should pay attention to a high sum insured. The experts at the consumer advice center recommend amounts of “at least 50 to 100 million euros”. Also important: Policyholders should make sure that the new policy also covers gross negligence in comprehensive insurance. This includes, for example, damage that occurs because a driver is distracted and overlooks a red traffic light.

Anyone wishing to terminate a contract usually has to do so in writing. The notice period must be observed. If a contract can be canceled by December 31st – this applies to most policies – the cancellation must be received by the insurance company by November 30th at the latest.

The consumer advocates point out that some providers make other specifications in the small print. We therefore urgently recommend looking at the contract documents.

A change can be worthwhile in many cases because providers lure new customers with cheap tariffs. With such an offer, the car owner can also try to get a discount from his current insurance company.

Anyone who has caused damage will be downgraded by their insurance company in the no-claims class (SF class) and will have to pay more in the future. But there are exceptions: If a so-called discount protection has been agreed, the insurer waives the downgrading despite a claim. However, this extra regulation only applies to the current provider. A new insurance is not bound to it. That can eat up any potential savings.

Policyholders can also optimize their current contract and save money. An annual instead of monthly payment brings a few euros. It is also cheaper when the children are out of the house and are no longer registered as young drivers. Insured persons must inform their provider of this.

Contributions are also saved by those who drive fewer kilometers per year due to moving, retirement or working from home. Because the number of kilometers driven affects the insurance premium.

In addition, other criteria have an influence on the amount of the vehicle premium:

Insured persons can take advantage of another savings option: not taking out fully comprehensive insurance reduces the premium. Such insurance is superfluous, especially for older cars. If you agree a higher deductible for your partially comprehensive insurance, you can also reduce the premium.

Insurance companies will hardly approach their customers and show them savings opportunities. It is therefore worth asking specific questions.

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