23 August 2010 - Car insurance
For many car insurance companies, the end of September is the deadline: until then, the current policy can be terminated. An analysis by comparis.ch shows that if you took out a car insurance a few years ago, you can save cash now if you change. If you took out an insurance in the average price range in 2007, you paid an average of CHF 500 – or 55 percent more than what you would pay with the cheapest insurance today.
The amount that can be saved with a change gets larger if one compares the premium comparisons including a fully comprehensive coverage. A driver pays more than CHF 620 or almost 60 percent more than the currently cheapest premium for the fully comprehensive insurance if he/she took out a car insurance in the average price range in 2007.
In order for the consumers to benefit from this development they have to change the insurance. Policyholders sticking to their offer will continue paying the premium based on the tariff calculation from three years ago.
Only a small percentage of policyholders are likely to make use of this saving possibility. A representative survey by comparis.ch at the beginning of this year showed that only 7 percent of car owners changed their insurance company last year.
In any case it is not only woorthwhile to compare car insurance premiums but also to insist on a one-year contract or a yearly right to termination also in the case of a new contract. This is how you can stay flexible in the future - and can change anytime when premiums decrease.
Archive
