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New type classes in car insurance: Who will have to pay more in the future

2023-10-10T12:05:33.528Z

Highlights: New type classes in car insurance: Who will have to pay more in the future. Insurance premiums could rise for 7.4 million motorists in the coming year. From next year, millions of motorists will again be classified into new type classes by the insurance company. The German Insurance Association (GDV) has now published the new type class statistics. Many readers were particularly interested in how your car is classified in the type class and you can find out on the GDV's portal, here.



Status: 10.10.2023, 05:21 a.m.

By: Sebastian Oppenheimer

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The type class is one of the factors that determines the amount of the premium for car insurance. Now the classifications for 2024 have been determined.

A car costs a lot of money. In addition to the purchase price, there are also costs for fuel, maintenance and repairs, for example. Every few years, for example, a new set of tires is due. And in addition to the road tax, there is also insurance. Liability insurance is mandatory for every car – whether you also insure your car partially or fully comprehensively depends, among other things, on the age and value of the vehicle. The amount of the insurance premium is influenced by various factors, such as the classification in the regional class. But the type class also plays a role: this is now changing for around 13 million motorists.

Type Classes for Car Insurance: How the Classification Works

For the classification of regional classes, it is particularly important where accidents occur particularly frequently – this is usually the case more often in cities than in rural areas. Accordingly, rural regions are generally rated better than large cities – Berlin has had the worst damage record for years. The type classes, on the other hand, are about specific car models. The principle is relatively simple: if a model causes little damage and low damage costs, then it gets a low type class. If a particular vehicle causes a lot of damage and high insurance payments, it is grouped into a high type class.

From next year, millions of motorists will again be classified into new type classes by the insurance company. (Symbolic image) © Shotshop/Imago

Insurance premiums could rise for 7.4 million motorists

The German Insurance Association (GDV) has now published the new type class statistics. It could become more expensive for around 7.4 million motorists in the coming year: they will be classified higher in motor vehicle liability insurance in the future. On the other hand, around 5.4 million motorists will be able to benefit from the changes: they will be classified lower in the future. For the majority of motorists (29.4 million or 70 percent), the type class of the previous year remains the same. Incidentally, the GDV's type class directory is not binding on insurers – but most of them are guided by it.

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Type class classification: Usually only minor changes – but there are exceptions

In most cases, the type classes change one step up or down. But there are also exceptions: The Ford Focus 1.0/ 74 kW (type DEH, since 2018) and the Audi Q5 50 TDI Quattro (type FY, since 2017), for example, each deteriorate by three model classes. On the other hand, the Suzuki Ignis all-wheel drive (type MF, since 2016) improves by three classes and the Dacia Jogger (type DJF, since 2022) by two classes.

For example, the following models are generally rated particularly favourably among the type classes:

ModelLiability Class / Partial Collision Damage Waiver Class / Fully Comprehensive Class
Hyundai i10 1.115 / 12 / 10
Kia Picanto 1.015 / 15 / 12
Opel Corsa-D 1.415 / 13 / 12
Skoda Fabia14 / 15 / 11
Smart Fortwo Coupe ED12 / 13 / 11

The following models, among others, are highly rated among the type classes:

ModelLiability Class / Partial Collision Damage Waiver Class / Fully Comprehensive Class
Audi RS6 Avant 4.019 / 30 / 30
BMW X6 M50D24 / 32 / 32
Jeep Grand Cherokee Trackhawk22 / 32 / 30
Lexus RX450H Hybrid AWD21 / 33 / 32
Mercedes-Benz GT 4-Door 4321 / 31 / 30

Car Insurance Cost: Many Components Matter

Editor's note: This text has been published in the past. Many readers were particularly interested in it. That's why we're offering it again.

If you want to know how your car is classified in the type class, you can find out on the GDV portal. However, the regional and type classes are only two of the components that make up the amount of insurance premiums. The kilometres driven annually and the owner himself also play an important role. Increasing no-claims discounts, for example, may also reduce insurance costs for individual motorists in the coming year, despite a higher regional or type class.

Source: merkur

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