Motor insurance: prices rise rapidly-who can still afford?

Motor insurance: prices rise rapidly-who can still afford?

Coburg, Deutschland - The prices for car insurance climbs are constantly increasing! According to current reports, consumers are now faced with juicy increases of up to 20 percent. The reason for the increases are the exorbitant costs for spare parts and repairs that explode. The HUK-Coburg and other providers are now sending the contribution calculations-and many drivers have to dig deep into their pockets in order to continue to be able to get the driver's license.

In particular, the defective bumper and fenders drive the prices up, since the car manufacturers have a monopoly on the required spare parts. Mario Heitmann, head of the HUK-Coburg, confirms that more customers have ever changed insurance than ever before. Despite the price increases, the car remains an indispensable means of transportation for most. In addition, higher cancellation rates are determined, while the company also records that more and more new customers flow. The industry is under pressure, because the constant complaints and the increasing damage frequency require their toll. BaFin has already warned the need to increase prices to ensure the financial stability of insurance, as well as www.faz.net reports .