Home and auto insurance premiums to jump by 10-15 percent

Consumers can expect to spend a lot more on home and auto insurance this year, with premiums jumping between 10 and 15 percent, according to comparator Independer. Inflation is behind the increases. “Everything is becoming more expensive, and that translates directly into higher premiums,” Menno Dijcks of Independer said to AD.

Car insurance premiums are increasing by 11 percent. Last year, policyholders spent an average of 821 euros on their car insurance; this year, the premium averages 912 euros.

Autoverzekering.nl confirms the high increase. The comparison site lists the average monthly premiums for legal liability insurance (WA), WA limited hull, and all-risk insurance. The average increase for WA is almost 10 percent. Limited comprehensive insurance premiums are rising from 663 euros per year on average to 728 euros.

The premium for home insurance will increase by about 15 percent this year, according to Independer. Last year the annual premium amounted to 240 euros; this year, it’s 276 euros. “That is an exceptionally strong increase,” Dijcks told the newspaper.

The premium for home contents remains virtually the same. Legal expenses insurance will increase by 4 percent on average.

Consumers will get an increase when they renew their policy. “Not everyone is paying the new, increased premium yet. So we can count on increases this whole year,” Independer said.