Expensive parts, expensive mechanics: Insurers: car repair costs are skyrocketing
Feelings can be deceiving - but sometimes the subjective impression is quite accurate. According to the insurance association, car owners who are worried about enormously increased repair costs are right to be concerned.
The cost of average car repairs in Germany has risen by around 70% over the past ten years to €4,600, according to the Gesamtverband der deutschen Versicherungswirtschaft (GDV). This increase exceeds the inflation rate, which rose by 26% over the same period. The GDV reports that car repair costs will lead to additional billion-euro expenses for insurers, who are expected to barely avoid losses in the car insurance sector this year.
The insurers' payments for car repairs and other services are predicted to rise by over 10% to €35 billion.
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.
