Switch to a cheaper car insurer with a special right of cancellation

Switch to a cheaper car insurer with a special right of cancellation

Don't accidentally waive your special right of termination
How does switching work after November 30th?
Save even more with telematics and comprehensive insurance with a workshop connection
Are car insurance policies with price guarantees worth it?

Coburg, November 14, 2024

Sharp increases in spare parts prices and hourly billing rates as well as increasing natural hazards: these are developments that are reflected in vehicle insurance premiums. Saving by comparing is becoming increasingly important when it comes to cheap car insurance cover. By switching from an expensive to a cheap insurer you can quickly save a few hundred euros. Contribution comparisons in the media show this again and again.

Now is exactly the right time to put your own vehicle insurance to the test: vehicle insurance contracts often run from January 1st to December 31st. Anyone who wants to cancel must ensure that the cancellation is received by the insurer by November 30th at the latest. But what happens if the bill arrives late? This is where the special right of termination comes into play. If the insurer increases the premium even though there are no changes to the insurance coverage, you have a one-month special right of termination from receipt of this notification - even after the deadline. Motor vehicle insurers must point this out.

Comparing is worth it
It's worth comparing: the price ranges between the individual providers are considerable. Comparison portals help with this. But be careful, no portal takes all car insurers into account. In addition, in terms of performance, it is often a slimmed-down offer. Researching in several portals is therefore essential. Online portals also work on a commission basis. The motor vehicle insurer concerned pays you a premium for each policy you broker. So they are only partially independent. Some cheap motor vehicle insurers such as HUK-COBURG - Germany's largest motor vehicle insurer with 13.9 million insured vehicles - cannot be found there at all. It is therefore always worth making a parallel inquiry to a cheap insurer.

Additional savings potential is possible
Even with a cheap provider, premiums can be reduced even further by integrating telematics solutions. By adopting low-risk driving habits, you can get a discount of up to 30 percent on the following year's premium for motor vehicle liability and comprehensive insurance with HUK-COBURG. On average, customers who received a follow-up bonus received a discount of 83 euros in 2023. One in five of these customers even saved 120 euros.

Is the price guarantee really worth it?
Replacement parts and repair costs have been rising rapidly for years and are currently being combined with more frequent and severe natural damage. No motor vehicle insurer can ignore this economic reality. Price guarantees in motor vehicle insurance lasting several years are difficult to imagine in this context. Before deciding for or against vehicle insurance with a price guarantee, it is essential to take a look at the details: Companies with low operating costs and lean processes can also offer long-term vehicle insurance significantly cheaper than more expensive competitors with a price guarantee.

For the press release on huk.de: https://www.huk.de/presse/nachrichten/verbrauchertipps/sonderkuendigungsrecht.html

The HUK-COBURG insurance group:
With over 13 million customers, HUK-COBURG is the largest insurer for private households with traditionally inexpensive offers, from motor vehicle insurance to liability, accident, property and legal protection insurance, as well as private health, life and private pension insurance. With premium income of 9.0 billion euros in 2023, it is one of the ten largest German insurance groups. The traditional focus is motor vehicle insurance: with 13.9 million insured vehicles, it is the largest German car insurer. It is one of the largest providers on the market in household contents and personal liability insurance. HUK-COBURG, based in Coburg, employed a total of over 10,000 people at the end of 2023.

Company contact
HUK-COBURG corporate communications
Kerstin Dirtler
Willi-Hussong-Strasse 2
96444 Coburg
09561-96-22609
https://www.huk.de/presse/nachrichten/verbrauchertipps/nachbarschaftshilfe.html

Press contact
HUK-COBURG corporate communications
Karin Benning
Willi-Hussong-Str. 2
96444 Coburg
09561-96-22604
www.huk.de

The image rights belong to the author of the message.