Consumers have to take into account considerably higher insurance premiums. Car insurance and housing packages in particular are going up exceptionally fast, comparator Independer signals.
The car insurance is an increase of more than 10 percent, according to expert Menno Dijcks of Independer. Last year, policyholders spent an average of 821 euros on their car insurance, now the annual premium is an average of 912 euros, which amounts to an increase of 11 percent.
The increase is also signaled by Autoverzekering.nl. The comparison site has been listing the average monthly premiums for WA, WA limited hull and all-risk insurance for six years now. The average increase in premiums appears to be the greatest for WA insurance, namely almost 10 percent. A consumer who paid 663 euros annually for limited comprehensive insurance will pay an average of 728 euros this year, which is more than 65 euros more compared to 2022, according to the comparator.
The main culprit of the premium increase is increased inflation, the experts say. “Everything is becoming more expensive and that translates directly into higher premiums,” says Dijcks. Jerry Poel, auto insurance expert at Autoverzekering.nl, adds that car repair companies often use drying cabins in the event of (paint) damage to allow the paint of cars to dry faster. “This takes a lot of energy. In addition, other increasing costs, such as more expensive car parts and higher personnel costs, also affect premium prices.”
Not instant increase
The premiums for building insurance policies and housing packages (building and contents) will also rise sharply this year, according to Independer. In the case of home insurance, the average increase is about 15 percent. Last year the annual premium amounted to an average of 240 euros, which has now risen to 276 euros. “This is an exceptionally strong increase,” said Dijcks. The premium of the home contents insurance remains virtually the same. Legal expenses insurance increased by an average of 4 percent.
Consumers will only be notified of a possible premium increase when their policy is renewed. “Not everyone is paying the new, increased premium yet. So we can count on increases this whole year.” Independer’s advice is to compare whether people can find cheaper elsewhere. Then it may be worth considering adjusting the insurance coverage. For example, from all-risk to WA+.
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