How much car insurance costs depends on how the insurance companies assess your individual risk of damage. Car insurance companies create a risk profile based on a large amount of information that you must provide when you submit an application. The information below can help you save.
However, you should not make false statements. Always tell the truth. Notify your insurance company as soon as a characteristic changes. Then your insurance company will recalculate the contribution cost.
A deductible is the amount of money you pay in an insurance claim before your insurance company pays. For example, let’s say you have a €150 deductible. You get in a car accident and cause €500 worth of damages. You would pay €150 and your insurance company would pay the remaining €350.
Many drivers with comprehensive insurance have a €300 deductible. In some cases, it might be worthwhile to agree to a higher deductible. Usually, increasing your deductible decreases the cost of your contribution.
Realistically Estimate Annual Mileage
The longer the distances you travel, the greater the risk of an accident. As a result, your insurance will increase in cost. The more kilometers you specify, the more expensive your insurance contribution will be. So – try to be really precise. Don’t overestimate how many kilometers you drive. According to a study done in 2019 by Finanztip, 15,000 kilometers a year cost an average of 8 percent more than 10,000 kilometers. 20,000 are on average 12 percent more expensive than 15,000 kilometers, and 25,000 cost another 13 percent more than 20,000 kilometers a year.
Pay Contribution Annually
Making an annual payment for your car insurance in Germany is cheaper than making half or quarterly payments.
In addition, some German car insurance companies do not offer monthly payments. Therefore, if you want to pay every month (as opposed to once per year) you have less choices.[
Special Conditions for Employees of Certain Companies
Some insurance companies offer special conditions to employees of certain companies. Check to see if your car insurance in Germany has special offers for employees where you work.
Reactivate No-claims Discount
If you insure a car again after a long break, oftentimes you can reactivate your old no-claims discount . The deadline for reactivating this discount varies between insurance companies.