When renewing insurance, insurance amounts, deductibles, and premiums are reviewed with respect to index changes. Different indexes are used for different types of insurance where the index that is chosen best reflects the price changes of what the insurance covers. In some cases what index is used is determined by law, for example in mandatory professional risk insurance, or with union contracts such as in the case of employee accident insurance.
Below you can see what indexes influence each type of insurance:
- Home insurance – The consumer price index excluding housing.
- Mandatory fire insurance and Commercial property insurance – Building index.
- Vehicle insurance – Comprehensive collision insurance index, vehicle liability insurance index and accident insurance of driver and owner index.
- Property insurance – The consumer price index excluding housing.
- Commercial liability insurance – The consumer price index excluding housing.
- Life insurance, critical illness insurance and child insurance – The consumer price index.
- Accident and sickness insurance – The consumer price index excluding housing.
- Professional liability insurance – The consumer price index and Building index.
- Employee accident insurance – The consumer price index.
Consumer price index
The consumer price index measures the overall change in consumer prices based on a representative basket of goods and services over time, including housing costs. This refers to, for example, purchases of groceries and clothing, operation of housing (whether owned or rented,) the purchase of appliances, operating costs of a private car, telecommunications, media subscriptions, and more. Talk about consumer price index generally refers to this index.
Consumer price index excluding housing
This index measures the overall change in consumer prices based on a representative basket of goods and services over time, excluding housing costs. This refers to, for example, purchases of groceries and clothing, the purchase of appliances, operating costs of a private car, telecommunications, media subscriptions and more.
Building index
This index measures the development of price changes in construction and maintenance of housing. It measures changes in the cost of design, materials and work, both inside and outside.
Liability insurance index (vehicle)
This index measures changes in prices of vehicles, spare parts, workshop work, car rental prices and wage changes.
Accident insurance of driver and owner index
This index measures changes in wages and is linked to the wage index.
Comprehensive collision insurance/windshield insurance index
This index measures, for example, changes in the prices of vehicles, spare parts, and workshop work.
