Sharp competition: Verivox: Price war in car insurance is back
In recent years, many motor insurers have drastically increased their prices. This phase appears to be over: now the pendulum is swinging back in the opposite direction.
Kfz insurance prices in Germany have increased moderately by 2% compared to last year, according to an analysis by Verivox. This marks the end of a three-year period of significant price hikes. The prices of liability insurance have risen by 3.1% in the middle price segment and decreased by 1.2% in the cheaper segment. Overall, car insurance prices have risen by over 50% since 2022 due to increased costs of spare parts and repairs.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
