Better regional classes for bavaria’s motorists
With the start of 2018, there is good news for motorists in Bavaria. Regional classes, where insurance premiums for car owners are determined, have been improved. This means that many motorists in Bavaria will be able to benefit from lower insurance premiums in the future. But what are regional classes and how do they influence insurance premiums??
Regional classes are set by insurance companies based on statistics from the German Insurance Association (GDV). They are dependent on the claims record in certain regions of Germany. The higher the claims record, the higher the regional class – and therefore the higher the insurance premium. In Bavaria, regional classes have now been improved due to declining claims records.
This means relief especially for drivers in rural areas, where higher insurance premiums were often charged due to higher damages. But there is also an improvement in the regional class for cities such as Munich, as the claims record has developed positively in recent years.
It is therefore worthwhile for Bavaria’s motorists to check their insurance premiums and, if necessary, look for a cheaper insurance company. Thanks to the improved regional classes, we can all look forward to lower premiums in the new year.
What do the regional classes mean for car insurance?
Motorists in Bavaria can look forward to good news: Starting next year, there will be better regional classes for car insurance policies. But what are regional classes anyway?
Regional classes are used by car insurance companies to assess the risk of accidents in different areas. Statistical data such as accident figures, theft rates and repair costs are taken into account here. Each zip code region is assigned to a specific regional class, reflecting the risk for that region. The higher the regional class, the higher the risk of being involved in an accident, and the higher the insurance premiums accordingly.
The new regional classes in Bavaria now mean that certain areas can be classified as safer and will therefore result in lower insurance premiums for the car owners concerned. Drivers in rural areas, who often had to pay higher premiums in the past, will benefit most from this change.
The new regional classes thus bring good news for car owners in Bavaria and show once again how important the accurate analysis of statistical data is for insurance companies.
Why are better regional classes important?
The division of regions into certain classes has a major influence on the amount of car insurance. The higher the regional class, the more expensive the insurance, as the risk of accidents and theft is higher in this region. Therefore, better regional classes are good news for motorists in Bavaria, as they mean lower premiums.
The improved regional classes also mean that motorists in Bavaria can plan their budgets better and save money. This is particularly important, as car insurance is one of the largest regular expenses for a motorist. With more favorable premiums, it is also possible to agree on a higher sum insured and thus better protect oneself against damages.
The better regional classes also have an indirect positive impact on road safety in Bavaria. As motor insurance is guided by accident statistics, higher premiums are justified in regions with a higher accident risk. However, if the regional classes are improved, this also means that the accident risk has been reduced. This will lead to greater awareness among motorists, improved infrastructure and increased prevention of accidents.
How are regional classes calculated?
Driving will soon be cheaper in Bavaria. From 2018, there will be better classification in the regional classes for many vehicle owners. But how are these classes actually calculated?
The regional classes are redefined each year by the German Insurance Association (GDV). Various factors such as the number of accidents and damage in a region, as well as theft and vandalism, are included in the calculation.
The classification in a higher or lower regional class has an impact on the amount of the car insurance premium. The higher the regional class, the higher the price of insurance. A better classification therefore usually also means a saving in costs.
The new classification of regional classes will apply from next year and will particularly affect the regions with the highest regional classes to date. Drivers in these areas can thus look forward to relief in terms of car insurance.
Improved regional classes ensure cheaper insurance premiums
Motorists in Bavaria can look forward to cheaper insurance premiums starting in 2018. This is because the new regional classes mean that many insured persons are downgraded from higher premium levels to more favorable ones. This will also reduce monthly insurance premiums.
The changes in the regional classes are calculated by the insurance companies on the basis of statistical data. Among other things, the accident statistics in the respective region play a role here. If there are fewer accidents in a region, the region is placed in a more favorable regional class.
The new regional classes also benefit policyholders who live in a region with a lower SF class. Because the downgrading of the region can also lead to an improvement in the insurance premiums here. So good news for all motorists in Bavaria, who will benefit from cheaper insurance premiums from 2018 onwards.