Finanztip advises car drivers to compare car insurance - Why loyal drivers pay more for car insurance—and how to cut costs
Car insurance costs have been rising, with premiums increasing by an average of 40% since 2022. This has left 40% of respondents feeling the financial burden. Loyal customers often pay more, with those who switch providers seeing potential savings.
A recent survey by Finanztip, involving 1,025 participants, revealed that 21% have never switched their car insurance provider. Furthermore, 41% haven't changed providers in over three years. Finanztip advises drivers to regularly compare policies, as some insurers may lower their prices. Savings can also be found by adjusting existing policies, such as restricting the pool of drivers or reducing annual mileage. Switching providers or agreeing to a deductible, repair shop network requirement, or switching to annual payments can also lead to savings.
With car insurance premiums on the rise, drivers should consider switching providers or adjusting their policies to save money. Regular comparison and review of policies can help ensure the best deal. Finanztip's survey highlights the potential savings available to those who switch, with 40% of respondents viewing rising costs as a financial burden.
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