Insurances: How to save your budget

With some providers, policyholders have a choice, while others are unchangeable. Here, the experts from the comparison portal Comparis provide clarity.

What factors influence premiums?
The most important factor for calculating the premium is the vehicle value. Engine displacement and engine power play a role in the calculation. The age, condition and equipment of the vehicle also determine the premium amount.

Age in the calculation is important
The age, gender and nationality of the owner are included in the calculation of the premium, as are the place of residence and driving experience. As a rule, however, age is weighted most heavily in the calculation.

This means that young drivers under the age of 25 usually pay higher premiums than older drivers. Previous damage and accidents can also affect the premium.

In addition, it makes a difference whether the vehicle is also used for business or only for private purposes.

Consideration of operating costs
The biggest influencing factor is the car to be insured. And this calculation is quite simple: the more expensive the model, the higher the premium. However, this will probably influence the decision in favor of a particular model in the rarest of cases.

But it pays to think about the operating costs before purchasing a vehicle. The newer the vehicle and the better equipped and more powerful it is, the higher the insurance premium will be. So there is potential for savings here.

Think about reserves for damages
The amount of the deductible also influences the annual premiums. A high deductible does bring savings on the premium. In this case, you should be in a position to be able to pay for any damage that may occur through appropriate reserves.

Premium amount depends on profile
Depending on their profile, policyholders are assigned to a certain bonus level, which determines the premium amount. The lower the bonus level, the lower the premium.

In the event of a claim, the bonus level increases and so does the premium. Bonus protection prevents such a premium increase - but often only for one claim per insurance year. Do you classify yourself as a good driver? Then there is also potential for savings here.

Insurance determines a garage
The choice of garage for a repair also affects the premium. If you take out a policy without free choice of garage, the insurance company will determine a garage near you for the repair.

This makes the premium more favorable. But beware: If you decide to use a different garage, you will have to pay a higher deductible in the event of a claim.

Gross negligence becomes expensive
Gross negligence includes avoidable violations in road traffic such as running a red light. The insurer may recover part of the costs from the insured person in the event of an accident related to gross negligence.

The gross negligence module protects you from such recourse. But beware: If you insure gross negligence, you also pay a higher premium.

How can you really save?
So there are a few options you can use to control the amount of your insurance premium. If your car is more than four years old, you should consider switching from full to partial coverage.

Depending on the value of the vehicle, the usually high premium for comprehensive insurance is no longer worthwhile from this point on. There are also other ways to save on insurance.

Check premiums regularly
In general, it is worthwhile to inform yourself well in advance and to become aware of your own needs. The most favorable variant at first glance is not always the optimal one for you.

It is also best to compare premiums every year. Premiums are constantly changing. This way, you can usually save money after switching.

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