The price of car insurance has risen more than 200 euros in the first quarter of the year, compared to the same period in 2023. Specifically, households pay 28% more than a year ago, going from an average policy of 733 euros up to 938.49 euros, according to data provided by the financial comparator Kelisto after its analysis of more than 20 companies in the insurance market. Faced with this unstoppable rise, the comparator gives some tricks to save on the insurance policy.
The first recommendation is to do an analysis of the price offered by different insurance companies. This comparison is not only relevant when searching for insurance for a new car, but it is essential to find a more economical policy than the one you already have. In fact, in this way you could save up to 134 euros per year, a 41% difference between insurance offers.
Secondly, it is important to assess what the insurance covers and adapt it to the needs of the vehicle. If you have a garage, theft coverage may be waived. Or if it is a very old vehicle, having comprehensive insurance may not be the most cost-effective.
To save on the insurance policy, another essential tip is to keep in mind that companies reward good drivers. Therefore, maintaining a good accident history is very relevant in the final price of the contract.
Finally, the advice to reduce spending on car insurance and alleviate the large increase is to take out several insurance policies from the same company. That is, take advantage if we have the need to secure other concepts and obtain a better price in the contracts.
How much has the price of comprehensive car insurance increased?
Comprehensive policies have increased by 34.48% and families will pay 688 euros more, going from an average price of 1,995 euros in the first quarter of the year to 2,683 euros in the first three months of this year.
How much has the price of third-party car insurance increased?
For its part, third-party insurance has also increased its price by 66 euros, reaching 448 euros, from the previous average price (382 euros). Extended third-party insurance policies have increased their price by 110 euros per year, from the average 453 euros last year to the current 563 euros, 24.4% more.
The increase in the price of car insurance raises 3 billion from drivers
The increase in prices has impacted the different types of policies, from third-party insurance to all-risk and has shaken 79% of the country’s households, which represents 3,000 million euros for all drivers.
