November 30th is an auspicious day for motor vehicle insurance customers.

Most car insurance policies can be canceled on this date.

More than two million customers change their tariffs at the end of the year in order to conclude new contracts after the notice period expires on January 1st, according to the comparison portal Check 24. Around a quarter of German drivers can also imagine changing their car insurance.

But what do insured persons have to consider when switching?

Kevin Hanschke


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Many insurance companies advertise bait offers, especially in November.

And despite the sometimes aggressive advertising, experts also recommend a change at this point in time.

The tariffs for car policies at the end of the year are 4 percent cheaper than in August, the month when prices are highest, says Ralph Wefer, motor insurance expert at the comparison portal Verivox.

Due to the corona pandemic, the savings potential is great.

Even novice drivers can save

"Currently, the prices for motor vehicle liability insurance are significantly lower than in the changing season in previous years." Compared to 2020, the average prices have fallen by 4 percent, the prices for particularly cheap policies by more than 8 percent.

Overall, the range between the cheapest tariff and an average tariff in November 2021 is 180 euros, says Wefer.

The reason for this is that insurers had to compensate less damage due to the lockdown and these savings are now passed on to customers.

Even novice drivers could save up to 60 percent on the insurance premium by choosing the right tariff.

In the cheapest tariff, they pay 616 euros a year.

Typical mistakes must be avoided

“Customers should still look for the insurance that includes all the services they really need at the best price,” says Bianca Boss from the Association of Insureds. In addition, insured persons should avoid typical mistakes when switching. This includes incorrectly specifying the mileage that is to be covered and not planning any buffers. In addition, customers should consider the discount factors for the insurance tariff. “This can include an ADAC membership, a locked garage at the house or your own property,” says Wefer. These factors drove prices down and are often forgotten.

Savings could also be made in the different age groups.

"Basically anyone can save," says Wefer.

For novice drivers, it is cheaper to have the insurance run through their parents.

In addition, it makes sense to tie in a workshop with fully comprehensive insurance, as this could result in savings of up to 20 percent this year.

Even with very old vehicles, Wefer recommends an analysis of the tariffs.

"A fully comprehensive insurance does not always make sense".

It often helps to read the fine print

Bianca Boss recommends reading the fine print when switching in November and always asking the previous insurer about cheaper rates before switching. "This can also save costs and enables discounts". In addition, there are important elements that the association believes should not be missing from a motor vehicle insurance policy. This includes a coverage of 50 to 100 million euros for liability insurance in the event of damage, the clause that objection is waived in the event of gross negligence and that the comprehensive insurance covers marten bites and collisions with animals.

In addition, Boss recommends the conclusion of a so-called "Mallorca Policy" when changing.

“You shouldn't do without it because it covers damage abroad, even with rental cars.” Wefer also emphasizes that game damage coverage and a “Mallorca policy” make sense, since these damage scenarios occur mathematically the most frequently.

Special rules also apply to electric cars.

Here customers should make sure that the most expensive components, especially the batteries, are also insured, otherwise considerable amounts of damage can occur.

Prices are falling right now

It is also important to start the change early and to compare offers as soon as possible.

"Insured persons have to prove that the cancellation was processed by the insurance company by November 30th at the latest," says Boss.

A postmark is not sufficient for this.

In total, there were around 92 insurance companies in 2020 that offered car insurance.

This means that the number of motor vehicle insurers has decreased by 26 percent over the past 20 years, according to the Federal Statistical Office in Wiesbaden.

Nevertheless, there are more than 124 million insurance contracts concluded in Germany.

"The prices are falling at the moment," says Christian Monke, insurance expert from the analysis company Franke und Bornberg GmbH.

In particular, the competition in vehicle policies is saturated, apart from a few niches.

“It is hardly interesting for insurance companies and start-ups to enter the motor vehicle business.” In order to gain market share, many companies are therefore developing new policies.

The market for electric car and mobile home insurance is particularly dynamic.