Insurance companies: Premiums now at record low
SAVING DRIVING Motor vehicle insurance premiums are lower than ever. The cost of fully comprehensive insurance for small and medium-sized cars has fallen by a good 18 percent since 2008. The winners of the price war are men under 25. Their motor vehicle premiums have fallen by 38 percent since 2008. That is twice as much of a fall as for the over [...]
The winners of the price war are men under 25. Their motor vehicle premiums have fallen by 38 percent since 2008. That is twice as much of a fall as for men over 30. Here, premiums have fallen by 19 percent. Despite the reduction in costs, young male drivers still pay significantly more on average for their fully comprehensive insurance premiums than older drivers. However, the cost gap is narrowing noticeably: in 2013, young drivers were still paying around 80 percent more than men over 30 (an average of CHF 2152 per year compared to CHF 1193 for the models analyzed). Today it is only 66 percent.
Women pay 17 percent less than ten years ago
Comprehensive insurance premiums for women are generally lower than for men: in 2017, female drivers over the age of 30 paid 16 percent less than men in the same age group. Young female drivers paid 9 percent less than their male counterparts. Premiums for women have also fallen over the last ten years. Premiums for both young female drivers and older female drivers have fallen by an average of 17 percent since 2008.
