Insurance premiums for cars have decreased post-pandemic, compared to previous rates.

In the current climate, many people are finding unexpected savings in their budgets, and car insurance is no exception. According to a study by Check24, car insurance premiums are approximately 6% cheaper compared to August 2019. This trend continued into 2021, with the average car insurance contribution being nearly 7% lower than in 2019.

Dr. Rainer Klipp, the Managing Director of Car Insurance at Check24, attributes this decrease to the measures taken to combat the Corona crisis. "Reduced driving during the pandemic led to fewer accidents," Klipp stated. This reduction in accidents resulted in lower claims, which enabled insurers to pass savings onto their customers.

Prominent insurers such as Allianz, AXA, and HUK-COBURG have all benefited from this trend and have passed on lower motor vehicle insurance premiums to their customers. The savings passed on to customers are a direct consequence of reduced driving during the pandemic and fewer accidents.

However, it's important to note that this trend might not continue into the end-of-year business. Elemental damages and costs for insurers, such as those from floods or hailstorms, have increased recently. These increases could potentially offset the savings from fewer accidents, leading to a possible rise in premiums towards the end of the year.

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It's worth noting that the study by Check24 did not provide information on why premiums were higher in 2019 or 2020. Restrictions on movement and travel led to a decrease in overall traffic, which could have contributed to the decrease in car insurance premiums in 2021.

In conclusion, the decrease in car insurance premiums is a welcome relief for many. However, it's essential to stay vigilant and keep an eye on your inbox, just in case you miss that confirmation email. And remember, while the current trend suggests lower premiums, the end-of-year business might bring some surprises due to increased elemental damages and costs for insurers.

Insurance premiums for cars have decreased post-pandemic, compared to previous rates.