Insuring your car has become even more expensive | RTL News

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Anyone looking for car insurance is in for an unpleasant surprise. Premiums have risen sharply, by an average of 8.2 percent. And it is expected that insuring your car will only become more expensive in the coming years.

In the first three months of 2023, the average premium was 66.40 euros per month. In the first quarter of this year 71.85 euros per month, according to figures from autoverzekering.nl.

In 2023, car owners (and moped and motorcycle riders) paid 5.2 billion euros to insure their means of transport. That is 4.3 percent more than in 2022, according to recent data from regulator DNB.

Higher damage

The number of accidents has decreased in recent years. But if something goes wrong, repairing it is more expensive, according to research by KPMG. And this will only increase in the coming years, to just under 3,500 euros as an average claim amount.

Image © KPMG / RTL Z

There are several reasons for this, says Joost den Elzen. He is director of car damage repair company ABS. An important factor is that car parts have become more expensive, driven by, among other things, the war in Ukraine.

More technology

“And there is more technology in cars,” Den Elzen gives another reason. “A headlight used to cost 300 euros each. You now have LED headlights that cost 2,000 to 5,000 euros each.”

“The repair work itself has become more expensive,” he adds. Wages have risen, partly driven by the tight labor market. And then there is the rise of electric cars. They are often made of aluminum, which cannot be dented. “Then you have to replace parts and the costs increase.”

There is something you can do about this, as a consumer. As with other insurance policies, it pays to take a critical look to see whether you are not overinsured. For example, all-risk insurance for an old(er) car.

All-risk or not?

Comprehensive insurance means (among other things) that you will also be reimbursed for the current value of your car in the event of an accident, even if it is your own fault. Of course, you pay a higher premium for this.

Such insurance is only recommended if you have a new car. Because otherwise the current value of your car is probably lower than what you pay in premiums over the years.

For example, a Volkswagen Golf that is just over 10 years old would be better off insuring WA+, advises price comparator Independer. The example is based on a 26-year-old driver from Utrecht, with two claim-free years.

He or she pays at least 53.50 euros per month for the mandatory third party liability insurance (WA). This only covers damage you cause to others.

Check the age of your stroller

With a WA+, damage caused by other causes is also compensated. Such as theft and burglary and fire, storm or other natural disasters. And damage to the windows. The example costs 71.5 euros per month for this.

Allrisk costs almost 90 euros monthly. Then damage caused by your own fault is also insured. Not recommended according to Independer, because the value of the car is only about 5,000 euros.

In addition to looking carefully at what type of insurance you take out, it is also worthwhile to compare them. With the most expensive insurer, the insurance costs at least twice as much as with the cheapest, according to Independer data.