Car insurance €82 more expensive than last year

Taking out car insurance cost an average of 82 euros per year more in May than a year ago, an increase of over 8 percent. Comparison site Geld.nl reported the increase, attributing it to increased inflation and more car damage. The site also noted that the premiums at different insurers vary considerably.

Geld.nl investigated 60 different scenarios. It alternated between types of cars, places of residence, ages, and claim-free years. In the last four months of last year, in particular, Geld.nl saw car insurance premiums rise sharply on average.

That is partly due to the high inflation, which reached a record high in September and October last year. Insurers saw the increased prices reflected in repair costs for damaged cars. There was also a relatively large number of damaged vehicles. “During the corona period, there was less driving, so there was less damage. But traffic has now increased again and is even higher than before the corona period,” explained Amanda Bulthuis of Geld.nl. “That also entails more damage, which insurers pass on in their premiums.”

Bulthuis noticed that premiums differ considerably between insurers. “We see that the difference between the insurer with the lowest and the average premium is often around 20 euros per month. That is a difference of 240 euros per year.”