The German Insurance Federation (GDV) estimates that the average annual car insurance premium in Germany in 2020 will be around 258 euros for liability, plus 329 euros for the fully comprehensive add-on, or 85 euros for the partial cover add-on.
These figures can give you an idea, but the elements that determine the cost of your auto insurance are as varied and intricate as German grammar. But don’t worry; we’ll guide you through the jungle.
biggest factors that have an impact on the price of car insurance in Germany:
- The kind of vehicle you’re insuring (diesel or petrol, amount of accidents this type of car had in the past three years, etc.)
- Your zip code (whether you reside in a city or a more rural region – some places are more prone to theft and vandalism)
- Where will you most likely leave your car overnight? (whether outdoors, a private garage, a collective garage, etc.)
How expensive is owning a car in Germany?
Keep in mind that the value of a new car depreciates dramatically over time; keep this in mind when purchasing one. It loses around 25% of its value in the first year.
It has been fluctuating between 5% and 6% over the years. The loss of value is determined by a variety of factors, including the type of vehicle, the manufacturer’s image/prestige, the condition of the vehicle in comparison to its age, the number of kilometers driven, and marketability.
However, with proper care and maintenance, you may make up for the loss of value in a positive way.
When selling a three-year-old car, it is worth roughly half of its initial price.
Value depreciation for the VW Golf V: the older the automobile, the lower the value depreciation. A VW Golf V from 2008/2009 loses around 500 to 1,000 EUR each year in current value.
Don’t forget to change the tires
Tires must be changed on a regular basis in Germany. You’ll need to do it twice a year, once in the winter and once in the summer. Although winter tires can theoretically be used all year, they can wear out quickly.
Tires should be changed once in the winter, in October, and once in the summer, around the middle of April. Alternatively, you can set your thermostat to 7 degrees Celsius and change your tires as soon as it arrives (look only for night temperature).
You will spend less up front in this situation, but you will have to pay more every time you need them changed at a garage (You can do it yourself if you are an expert).
You will spend more up front in this instance, but you will pay less each time you need them replaced at a garage. Also, without much experience, you can change the tires on your own.
If you don’t want to change the tires yourself, you need factor in the following costs:
As a result, only changing the tires will cost you between 30 and 140 euros twice a year. You will pay 52 EUR on average each time.
Inspection, maintenance, and repairs
Every second-year automobile must be inspected by a specific organization called TÜV, which is not cheap anticipate to pay around 100 EUR. Only after the first three years must a new car be inspected.
Furthermore, an oil change is required once a year, so expect a charge of up to 100 EUR. Don’t forget about the air filter, pollen filter, and other filters as well. All of this could set you back an extra 100 EUR to 200 EUR.
Over time, wear parts such as the alternator, brakes, exhaust, and tires must be replaced. The cost of repairing electronic faults will be the most expensive in this area.
Maintenance costs for the VW Golf V, for example, may vary depending on the model, but on average, they will be roughly 360 EUR each year.
If you require repair or replacement of certain significant components, you should expect to pay between 400 and 800 EUR. As a result, always keep at least 500 EUR in your car’s trunk; you never know what can happen.
Something will go wrong once in a while, no matter how much you care about your car. All repairs will be paid for by the owners, not by the insurer. It might be fairly costly due to high German salaries.
Car wash is also necessary
This is one of the lesser charges that add up over time, but it must be done on occasion. You don’t want to scare people with your car, and the inclement German weather may do a lot of damage to its appearance.
If your automobile doesn’t have a suitable drainage system, you can’t wash it on the street or in your own garage in Germany. As a result, an auto wash (Autowaschanlage) may be the only viable option. It can cost anywhere from 8 to 20 EUR per time.
You can, however, save some money there. Many stores will give you with a location to hand wash your car, as well as water and soap. If you don’t mind getting your hands dirty, you can save a lot of money because hand washing only costs 25 EUR.
And last but not least parking costs
If you live in a city, parking will be the most difficult aspect of owning a car in Germany. Most of the time, there will be a solution in your neighborhood. It could be a garage, a parking spot (Stellplatz), or a street parking area.
If you need to rent one for whatever reason, be prepared to pay a monthly charge. The cost varies greatly depending on the city; for example, the most expensive parking spot in Frankfurt is 200 EUR per month. The cheapest is in Hannover, which costs 70 EUR.
If we’re talking about hourly parking places in town, expect to pay anything between 2 and 4,20 EUR each hour, depending on the city.
Conclusion
Total: 1,950 EUR per year, or 162 EUR per month if parking is not required (individual costs apply).
According to German statistics, the average monthly cost of a regular car is 520 EUR, whereas an electric car is 788 EUR.
Expenses, on the other hand, vary greatly. A little automobile will set you back around 200 EUR per month, while a medium car would set you back around 300 EUR per month, provided you don’t travel more than 15,000 kilometers per year. These are already good cost benchmarks that you must calculate on a monthly basis.
You can even use an ADAC tool to estimate the cost of your vehicle (German automobile association).
Which is the cheapest car insurance in Germany?
Every vehicle on the road in Germany is required by law to carry at least liability insurance. Third-party liability insurance is the most basic and, as a result, the most affordable sort of car insurance in Germany. The following items are covered by this classic car insurance policy:
Third-party liability insurance, in general, pays for any losses caused by the covered vehicle. In terms of damage claims, the insurance will cover third-party losses. Indirect parties, such as health insurance providers, accident and pension insurance, and employers, can also seek reimbursement from the insurance provider.
It’s worth noting that driving a car in Germany without this form of insurance is a criminal offense. Third-party liability insurance is required in every EU country, not only Germany. As a result, if you drive a car in Germany as an EU citizen, your foreign third-party liability insurance is valid.
However, under certain cases, third-party liability is not required to pay. For example, hit-and-run incidents and damages caused by illegal automobile races, as well as extreme negligence, are common causes for insurance companies to reject claims.
Why is German car insurance so expensive?
In Germany, all drivers are required to have automobile insurance. It is not possible to register a vehicle without it. Even if you moved your automobile to Germany from another country, you will require German car insurance if you are a long-term resident in Germany; international car insurance will not suffice.
In Germany, the cost of automobile insurance is determined by a number of risk variables, including the driver’s age, experience, and location, as well as the car’s worth and engine size. If you’ve only recently learned to drive, for example, your insurance will almost certainly be more expensive. It’s possible that paying a greater excess in exchange for cheaper monthly premiums is a good deal.
How much does car insurance cost 2020?
- According to statistics from approximately 100,000 Savvy customers, the average cost of vehicle insurance in the United States is $2,388 per year or $199 per month.
- Your premium will be determined by the state you live in, the level of coverage you choose, and your gender, age, credit history, and driving history.
- A driver in California may spend between $987 and $1,815 per year for coverage, whereas a driver in New York may pay between $1,352 and $2,752 per year.
- Check out Savvy, a free service that allows you to compare car insurance quotes in minutes».
Can a foreigner buy a car in Germany?
Is It Possible For A Foreigner To Purchase A Car In Germany? Of certainly, as long as you have a valid German residency permit. You will be able to drive a car in Germany only if your international driver’s license is valid in Germany.
What is the price of a BMW in Germany?
Start saving now, because the cheapest 5 Series money can buy in Germany costs 45,200 euros and 36,025 pounds in the United Kingdom. In Germany, the entry-level 5 Series model is the same as in the United Kingdom, a 520d with a turbodiesel 2.0-liter engine.
How much does a used car cost in Germany?
Purchasing a used car is almost always less expensive than purchasing a new vehicle. Buyers in Germany, where tens of thousands of cars are produced each year, have a vast selection of options. Some of the cheapest and most costly secondhand automobiles in Europe may be found here.
According to statistics, the average price of a used automobile in Germany in 2020 was 18,750 EUR when purchased from a dealership and 13,310 EUR when purchased from private sellers.
Are you looking for the best value and price on a used automobile in Germany? Then you’ll need to know a little about the used car market in Germany. Which automobile is the best? What are the best places to look? How do you bargain with the seller on a price? What is the best way to finance a car? This article contains all of this information and more.
Can I insure a UK car in Germany?
Re: Car insurance in Germany for a car registered in the United Kingdom They insure UK cars while they are abroad of the country, with no time limit. i.e., an automobile can spend the entire year outside of the United Kingdom. They also waive the need for a current UK mot certificate, which is quite convenient.
Which insurance is best in Germany?
Techniker Krankenkasse has the best price-to-service ratio and consistently outperforms the competition in numerous tests. With approximately 10.5 million members, Techniker Krankenkasse is Germany’s largest public health insurer, covering one-eighth of the German population.