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How to save money with an extra car?

How to save money with an extra car?

Faced with the expected increase in car insurance prices in 2023, insurers have committed to limiting the increase in their rates below the inflation threshold through an insurance shield. Did you know that you can also save money on car insurance by taking out supplementary car insurance? We explain to you.

An increase in the price of car insurance is expected in 2023

An increase in car insurance prices is expected in 2023. This increase is due to the accumulation of several factors, which increase the amount of benefits for car insurance companies, such as:

  • The increase in the cost of labor and spare parts;
  • The increase in the number of vehicles that are more expensive to repair (such as SUVs for example);
  • The increasing electronics of vehicles, which require increasingly advanced expertise in terms of installation and maintenance.

These elements will lead to an increase in the insurance premium for many policyholders from 2023.

How can the impact of this increase be limited?

Setting up an insurance shield

On Tuesday, September 20, 2022, Florence Lustman, President of France Assureurs, and Bruno Le Maire, Minister of Economy and Finance, jointly announced the implementation of an anti-inflation package intended to preserve the purchasing power of the French. Specifically, this means that average car insurance premiums (like those for home and health insurance) will be capped below inflation in 2023. A check worth €100 will also be handed out to young drivers looking for a job to facilitate their car insurance budget. .

“I am happy that the insurance companies have committed to keeping the average amount of insurance premiums below the inflation level in 2022 and 2023. This makes it possible, after the energy shield, after the bank shield, to establish an insurance (… ) to prevent, that the price of insurance premiums will skyrocket in the coming months” declared Bruno Le Maire.

An additional car to make additional savings

If you want to be guaranteed savings on your car insurance, you should know that you have the option of taking out additional car insurance. Roole car supplement for example, works like a supplementary health insurance, but for your car.

Specifically, when you take out a car insurance contract, you will always have costs that are not covered. Take, for example, the case of an at-fault accident.

  • If you are covered “third party”, your primary insurance company will not cover anything, while your supplementary car may reimburse you for the full amount of the repairs;
  • If you are covered “all risks”, you will be compensated for repairs, but an excess will remain your responsibility. Your additional car can reimburse you for this deductible.

Similarly, your supplementary car may cover certain paid or more expensive warranties or options under your car insurance policy.

To save money thanks to your complementary car, simply:

  • Increase the level of your excess (which will lower the price of your annual premium) according to the amounts covered by your supplementary car;
  • To remove the guarantees and options from your car insurance contract supported by your complementary car.

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