Type Classes Are Reassigned

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Type Classes Are Reassigned
Type Classes Are Reassigned

Numerous motorists will be assigned a new type class in liability insurance in the coming year. Further risk features are now taken into account here.

In the coming year, many motorists will be re-classified for their liability insurance: around 70 percent will be given a different type class. This was announced by the General Association of the German Insurance Industry (GDV) in Berlin. In the case of newly concluded contracts, the changes even apply immediately - provided the insurance company is already using the new type classes, said GDV spokeswoman Katrin Rüter de Escobar.

New weighting

The reason for the large number of reclassifications is that new risk features will be taken into account in the future. The factors that determine the type class then include the “age of the vehicle at the time of purchase”, “residential property”, “user group” and “user age”. Differences in risk behavior should thus be assessed more precisely than before. In addition, significantly fewer reclassifications are to be expected in the coming years than before.

According to Rüter de Escobar, the new type classes can already be accessed on the Internet. At www.typklasse.de, drivers can find the exact classification of their vehicle in fully comprehensive, partially comprehensive and car liability.

Younger vehicles preferred

According to the GDV, upgrades or downgrades do not necessarily mean that the insured person has to pay more or less premium. For example, older vehicles that previously performed poorly in the type class system will tend to be classified more favorably in the future. However, buyers of older vehicles will have to accept a corresponding surcharge for the “vehicle age at purchase” feature.

Conversely, newer models that were previously assigned to more favorable type classes tend to be rated higher. To compensate for this, however, there is a corresponding discount due to the “vehicle age at purchase” characteristic, from which buyers of young vehicles benefit. (dpa)