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Is it possible to reimburse the car insurance for Corona?

Reimbursement of car insurance due to Corona

Currently, fewer cars are being driven than ever before. The good thing about it is the large drop in traffic accidents. Fortunately, this means fewer deaths, injuries or property damage that can be attributed to a car accident. Due to the low number of traffic accidents, insurance companies already save some sums of money that would otherwise have to be paid out to those who have suffered an accident. You could also benefit from this as a driver. If you have driven less this year, a reimbursement of the car insurance due to Corona may be possible. You can find out what you have to do in this article.

How to get your money back from auto insurance

Many drivers in this country benefit from the low petrol prices. By moving office work to the home office , in most cases the car remains in the garage. Very few vehicle owners know that they can get their money back from auto insurance. This was the result of a survey of German insurers and was confirmed by the Association of the German Insurance Industry (GDV). 1

Adjust car insurance

Employees who drove fewer kilometers in 2020 may be able to adjust their contract. According to a GDV spokesman, anyone who has used the home office for months instead of driving to the office because of the Corona crisis can adjust their insurance contract at the end of the year.

Insurance companies have confirmed that reimbursement of car insurance due to Corona is possible. It depends above all on the expected number of kilometers driven in the insurance contract. If it turns out at the end of the year that you have driven fewer kilometers than you specified when you signed the contract, you will be reimbursed part of your contributions.

How Much Money Can You Expect From Your Car Insurance?

The insurance companies grant insured persons a right to change. If it turns out that the number of kilometers driven per year has actually decreased, you can adapt your contract to the new situation at the end of the insurance year. Insurers also agree: If you have driven several thousand kilometers less in the year, you can get a premium refund of 50 to 100 euros or more.

Accident number in April at 30-year low

According to GDV reporting, there are already statistics showing the decline in accident damage during the time of the Corona crisis. Numerical comparisons with previous years showed that, for example, the lowest accident rate in 30 years was calculated in April of that year. That means a decrease in the number of accidents of around a third.

However, the car insurers warn against drawing premature conclusions about the overall view of the year. After all, this development can turn into its opposite within the year. This assumption is related to the fact that insurance companies expect more car journeys to other European countries in the future. After all, many people will refrain from air travel for fear of Corona. It is also believed that car owners would rather take their vehicle than use public transport due to the pandemic.

Reimbursement of contributions from car insurance due to Corona at the end of the year

If you are hoping for a reimbursement of your car insurance due to Corona, you will probably have to wait until the end of the year. Some insurers assume that there will be corrections to the previous calculations. The reason for this are unpredictable changes in the driving habits of the insured. In order to assess when a reimbursement of the motor vehicle insurance due to Corona can be carried out, an overall assessment must be carried out. Not only the short-term corona effect is taken into account, but also the further events of the entire insurance year.

Tip: If you have driven far fewer kilometers than planned during the entire year because of the corona pandemic, you can report it to the insurance company. This can result in a proportional reimbursement of contributions. The changes should best be announced to the car insurer at the end of the year.

Reimbursement of car insurance due to Corona possible at the end of the year

If you notice at the end of the year that the number of kilometers you have driven is far below what you stated with your insurer, you can get your money back. It is important to announce the reduction at the end of the insurance year.
Anyone who tries prematurely to adjust their contract and possibly get money back may have to face a number of arguments. Above all, it is pointed out that the situation can be reversed in the course of the year. The total number of kilometers driven over the entire year may change so that more kilometers are covered again.

My name is Martina Lange and I prefer to write journalistic texts on the topics of finance and medicine. I also love to write professional articles of all kinds. I can find my way into almost any topic and am always happy when I have even more knowledge after finishing a text. As a freelance writer, I am passionate about writing for creditSUN.

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