Many policyholders pay several thousand euros in insurance premiums every year. In addition to sensible or legally prescribed insurance (such as health or car insurance), more or less useless policies are often responsible for this. It is also worth mentioning the importance of getting an insurance certificate.
In addition, an insurance comparison offers further savings potential if you pay attention to the right provider and important contract clauses. Do you want to save money on insurance? In the following overview, you will learn how.
The choice of insurance is almost inexhaustible. You can insure yourself against almost any risk with various insurance companies. In this way, insurance policies are quickly taken out whose services are rarely or not at all needed. Therefore, it is the easiest way to save money on insurance.
Insurance is always useless if the insurance premium paid (over several years) exceeds the (monetary) benefit while at the same time being rather low.
In many cases, unnecessary insurance is a psychological problem. This is because the human brain often misjudges risks. Unlikely events are overstated, while at the same time probable events are underestimated. This leads to the lack of important insurance. While at the same time you have useless insurance.
Examples of unnecessary insurance
Unnecessary insurance often hedges unlikely risks. These cause one-time high costs when they occur. In the long run, however, insurance is not profitable. This is because the contributions paid over several years easily exceed the compensation paid later. Such superfluous insurances usually include:
- Mobile phone insurance
- Eyewear insurance
- Baggage insurance
- Wedding Insurance
- Glass breakage insurance
As e.g. the bargain portal Mein-Deal.com shows, such insurance is only necessary in a few cases. Luggage insurance or mobile phone insurance, for example, is only worthwhile if the cost of a new purchase is very high. Often, for example, comparable protection is already included in household contents insurance. However, it is always important to pay attention to the conditions and the services. It is important to know in which cases the insurance companies pay – and in which cases they do not.
In most cases, it also makes sense to dispense with extended product insurance. This applies, for example, to electronic objects. Or the already mentioned spectacle insurances. In many cases, only part of the costs is covered by the insurance anyway. Since you can also save on the cost of the policy. It is much more important to protect oneself against damage that threatens one’s existence. Even if it is not only technical reasons why tablets and mobile phones break down quickly, this damage certainly does not weigh as bad as, for example, occupational disability or a total loss of the car.
In addition to dispensing with superfluous offers, a regular comparison of insurance policies is considered the best way to reduce insurance premiums. However, policyholders have to pay much more attention to the benefits than just the price. Because cheap insurances usually offer only lower protection. Otherwise, unfortunately, you only notice in the event of damage: With only minimally more expensive insurance, you would be much better advised.
It is also important to choose the right tariff. Options that you do not necessarily need can be deleted confidently. If you are insured with different companies, you may miss a bundle discount. Many insurers offer such discounts if several lines of insurance are taken out at the same time. Here you have to calculate with which combinations you pay cheaper contributions. Whether these offers are always useful? This can easily be clarified during a short phone call with the insurance broker you trust.
Conclusion: If you are clever, you can save a lot of money on insurance
Through meaningful comparisons and the avoidance of unneeded services, you can easily save a few hundred euros a year. If you do not know exactly which services make sense, you should discuss your individual situation with a competent insurance broker. Thus, comprehensive protection is possible at a low cost.