Rising Auto Parts Costs Drive Up Insurance Premiums
The surge in auto replacement part prices is leading to higher insurance costs for vehicle owners.
- Prices for auto replacement parts have increased by an average of 6.2% from August 2023 to August 2024, with some items like grilles experiencing over a 10% rise.
- Insurance companies are facing higher costs due to increased repair expenses, with the average damage claim rising from €2,500 in 2013 to €4,000 in recent years.
- The German Insurance Association reports that insurers incurred a loss of approximately €3 billion last year and anticipate a €2 billion deficit for 2024.
- Each insurance company will decide independently whether to pass these increased costs onto consumers through higher premiums.
- The price surge in auto parts is described as a long-term trend, largely independent of general inflation, with some parts doubling in cost over the past decade.
Die Rheinpfalz 
