Teure Teile, teure Mechaniker: Versicherer: Autoreparaturkosten schießen in die Höhe

According to figures from German insurers, the cost of an average car repair in Germany has surged by around 70% over the past decade to reach €4,600. This increase is attributed to the steep rise in both replacement parts and workshop expenses. The German Association of the Insurance Industry (GDV) voiced concern over the situation, noting that car repair costs have outpaced the general inflation rate, which has risen by 26% over the same period.

The impact is not limited to individual car owners, as additional billion-dollar expenses burden the insurers. In the fiscal year, the insurance sector is expected to face a substantial loss, with payments to customers for car repairs and other services projected to increase by nearly 10% to 35 billion euros. The ratio of payments to customers and administrative expenses to revenues, known as the damage-cost ratio, is anticipated to be around 99%.

This means that for every 100 euros in revenue, insurers retain only one euro in their coffers. Insurers lament that the burgeoning costs of workshops and parts are driving up the expenses, which are growing at a faster pace than the insurance premiums collected. The German car insurance market is fiercely competitive, with price wars occurring irregularly.

Over the past three years, insurers raised their prices significantly, but this year, the renewal of policies is expected to be less expensive than a year ago, particularly in the favorable segment, which primarily consists of online insurers. Every autumn, millions of drivers switch their car insurance providers in search of more affordable rates.