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Your car insurance is an essential expense and it has a significant impact on your budget.
However, like many motorists, you may have noticed the increase in your premium and are wondering what the reasons are.
Several factors can explain this increase, for example if you have changed vehicle or if you have modified your automobile contract.
If your car insurance has indeed increased, you may be able to correct this increase with appropriate measures.
We explain the main causes of increased car insurance and the possible solutions to limit the effects.
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Have the characteristics of your auto contract been modified?
Auto insurance premiums have increased by around 4% for the majority of policyholders.
Certain factors linked to your profile and your situation may lead to an increase in your premium based on an increased change in risks:
The power of the vehicle if you have changed it: the more powerful the vehicle, the higher the premium.
The bonus-malus: your premium is re-evaluated each year based on your driving and if you caused an accident at fault or if it was aggravated by an offense such as driving under drugs, you are considered a risky driver. .
Your premium then suffers a penalty which increases the amount.
The addition and age of users of your vehicle: more involved in accidents, young drivers are subject to a higher premium.
Use of the vehicle: do you generally make long journeys and is your vehicle parked, for example, protected from attempted theft or damage?
Other factors can explain the general increase in auto insurance premiums:
The increase in the number of road accidents, therefore in the risk for insurance companies.
This increase often causes significant damage to road users and vehicles.
The increase in claims due to risky and criminal behavior: driving under the influence of alcohol and drugs, vehicle theft and caravan theft, damage, etc.
Indexation on the cost of living, including the rise in the cost of car repairs, labor and the price of spare parts having increased.
Climatic events, such as floods, are more frequent and cause significant damage to property and vehicles.
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How to limit the increase in your car insurance?
Several possibilities are available to you in the event of an increase in your car insurance premium:
Contact your insurer to verify the reason for this increase.
Check with your insurance company if your premium is increasing based on the application of a contractual price indexation clause or even a contractual review of premiums.
Compare the offers on the car insurance market based on your situation and your needs.
If you wish to keep your car insurance contract with your current insurer despite the increase, you can adjust your guarantees as closely as possible depending on the evolution of your situation, the age of the vehicle, your actual mileage, or even favor other modes of travel if possible.
You can decide to change insurance at any time if your contract is more than one year old by registered letter with acknowledgment of receipt.
If you have opted for a new insurer, it is the latter which will take care of the cancellation procedures for you.
Whatever your decision, consider that responsible driving has the greatest chance of allowing you to accumulate bonuses and therefore reduce your car insurance bill.
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