Auto Insurance is More Expensive Premiums Rise

The motorists in Germany have to adjust to rising insurance premiums. HUK-Coburg, leader sees red in the face of the industry, and increasing damage under pressure.

The car insurance is more expensive. Germany's largest car insurer HUK-Coburg said now that the area-wide price increases of the year were sufficient. Because increased damages and would not be covered by the premiums by far. "The market needs a further premium increases," commented the HUK-Coburg-Executive Klaus-Juergen Heitmann. His company has increased the average premium by 4.5 percent while now, but could not yet be the end of the flagpole.

Per 100 euro bonus give the HUK-Coburg from 104.8 € for losses and administrative costs in the industry as a whole, there were even 108 euros. After years of tariff reductions, "I expect that the market needs and make price adjustments," said Heitmann.