Changing car insurance: What you need to look out for

Changing car insurance can help you save a lot of money annually. But before you cancel your insurance and switch to a new provider, there are a few important points to consider. In this article, you will learn how to optimally prepare for the change and what you should consider in order to make the best decision.

Why should you change your car insurance?

Most policyholders change their car insurance to reduce costs. Often, the providers increase the premiums after the first year without you getting better benefits in return. Switching offers you the opportunity to find a cheaper offer with the same or even better benefits. In addition, with a new provider, you can benefit from special promotions or discounts that apply specifically to new customers.

The right time to make the switch

If you want to change your car insurance, the right time is crucial. Most contracts run until December 31 of each year. This means that the notice period usually ends until November 30. If you miss this date, you can usually not cancel your insurance until the end of the next year. However, there are exceptions: If your insurance company increases the premiums, you have a special right of termination. This allows you to cancel within four weeks of receiving the notice.

Compare services and costs precisely

Before you change your car insurance, you should take the time to compare different offers. A low price alone is not enough. Make sure that the services meet your needs. Important points include:

• Sum insured: It should be at least 100 million euros to adequately protect you in the event of high claims.
• Partial or fully comprehensive insurance: Consider whether fully comprehensive insurance is necessary or whether partial comprehensive insurance is sufficient. This often depends on the age and value of your vehicle.
• Additional services: Some insurance companies offer extras such as a cover letter, extended wildlife damage coverage or discount protection.

Formulate the right termination

If you have decided to change your car insurance, you must cancel your old insurance policy in good time. A notice of termination should always be made in writing. Many providers accept cancellations by e-mail or via an online form. Make sure you get written confirmation of receipt of your resignation. Your letter should include the following information:

• Your insurance number
• Your name and address
• The desire to terminate the contract at the earliest possible date

Conclude the new contract

Before you cancel your old insurance, you should make sure that you have found a new car insurance. A seamless transition is important because insurance is compulsory in Germany. Without valid car insurance, your vehicle may not be driven on the road. As soon as you have found a suitable offer, you can conclude the new contract online or directly with a representative. Make sure that you receive all the important documents, such as the eVB number (electronic insurance confirmation), which you will need at the registration office.

Important: Do you need car insurance immediately when buying a car?

Conclusion: Change car insurance and save money

Changing car insurance can not only save you money, but also offer better benefits. It is important that you take the time to compare different providers and check carefully whether the new offer meets your requirements. Don't forget to observe the notice period and ensure complete insurance coverage. With these tips, nothing stands in the way of your switch!