- The cost of car insurance is escalating for numerous residents in Hesse.
With a revised assessment of accident risks, car insurance might increase for numerous people in Hesse*. The General Insurance Association (GIA) has found increased liability risks in four registration districts. As per a statement, vehicle owners in the districts of Darmstadt-Dieburg, Frankfurt, Groß-Gerau, and Limburg-Weilburg have shifted to higher regional tiers, which are significant in determining insurance rates.
Nationally, the most accident-prone location is Offenbach, followed closely by Berlin. Accidents are frequent in both areas, and the damages are significantly above the standard. "In both cities, damages are almost 40% higher than the average," says GIA Deputy CEO Anja Kafer-Rohrbach. Thus, vehicles in Offenbach need to be insured in the highest regional class 12.
Insurance in the large Hessian cities of Frankfurt, Wiesbaden, and Kassel, is not significantly cheaper, with class 11. In contrast to the national average, Hersfeld-Rotenburg experiences fewer accidents, and the damages are not as severe. Consequently, this is the only district in Hesse where the lowest regional class 1 applies for liability insurance.
Hail damage poses challenges for insurance companies' financial statements
Changes are imminent for liability insurance for car owners in the district of Waldeck-Frankenberg. However, for the remaining districts, there will be no changes to liability insurance, as reported by the GIA. The regional class is always based on the residential area, not the registration office.
There are modifications in the comprehensive insurance regional classes as well. There are updates for partial coverage in 14 Hessian districts, and full coverage in 11 districts. Approximately 40% of policyholders are impacted. The reason is various hail damages from the previous year that have impacted the insurers' financial statements. Car owners in the Hochtaunuskreis can anticipate a decrease in costs for both types of comprehensive insurance.
The precise impact of the new classifications on insurance premiums is not yet clear, as it is influenced by several other factors. The GIA's regional statistics are also not binding for insurance companies. They can be implemented immediately for new contracts and for existing contracts from the following insurance year.
Despite being identified as having shifted to a higher regional tier, vehicle owners in ['The Greater Gerau'] might still have more affordable insurance rates compared to those in Frankfurt, due to being in class 10 rather than class 11. However, the potential increase in car insurance premiums in ['The Greater Gerau'] following the revised accident risk assessment remains a concern for many residents.
