Which insurance is not worthwhile
People usually buy insurance in the hope that they will be prepared for any eventuality. In addition to useful products, there are also numerous useless policies in the portfolio of the insurance industry. Good insurance ensures your existence in the worst-case scenario. Many other insurance products, on the other hand, only cost money and do next to nothing.
If you drive to the discount grocery store, you might not be bothered by a few miles of driving. You'd rather save a few euros on shopping. When it comes to insurance, many don't take it too seriously. It is quite possible that you too throw a few hundred euros out of the window every year - for superfluous insurance.
Insurance against all eventualities
The Germans are known to cover themselves against all eventualities. If you look at the total amount of your insurance expenditure, it is well above the European average.
- Financial experts at consumer advice centers believe that the German nation feels like no other in a false sense of security, despite high insurance spending. Here can meaningfully insured mean to save hard cash.
- In an emergency, the insurers often do not pay as promised or hoped for. If you add up the premiums over the years, they cost far more than a realistically assumed case of damage.
- You should therefore regularly put all your insurance policies to the test. Compare benefits and rewards. Determine which risks in detail of which insurance are covered. Avoid unnecessary and expensive double insurance. If you have any questions, contact your insurance advisor or an independent insurance broker.
Insurances offered on the market today can be divided into various large groups ...
Selected unnecessary insurance products
- Wedding cancellation insurance is intended to cover the risks of accident, death or fire in connection with a wedding. Prospective couples can insure themselves against an unexpected, sudden end to the festivities. However, if your partner does not say "yes" as hoped, the insurer will not step in. You cannot insure previous illnesses, church decorations or rental cars.
- The mobile phone and electronics insurance is aimed at all owners of smartphones, televisions or hi-fi systems, which can sometimes be quite expensive. Important risks are often already covered by your home contents insurance. After purchase, new devices are covered by the warranty for the first two years. In the event of a reimbursement, there should hardly be more than an economy version, because only the current value is replaced.
- Endowment life insurance is very popular. Two benefits are combined - coverage for survivors in the event of death and retirement provision in the event of survival. Experts criticize that the death is not sufficiently covered. As a form of investment, it does not generate enough returns.
- You should not take out training insurance. Because that's just one form of endowment insurance. A form of investment that gives you more is recommended interest charges brings. The case is similar with death benefit insurance. The profit is too low.
- The private daily hospital allowance insurance is intended to cover loss of earnings for the sick. If you are not already covered by sick pay, you will get better protection with private daily sickness allowance insurance.
- You can protect yourself against the risk of broken window panes with glass breakage insurance. Experts strongly advise against it. The benefits are too low and have no relation to the amount of the contribution. The statistics speak against frequent glass breakage damage.
- Passenger accident insurance is often cited as an example of useless insurance. Because the automotiveLiability of the driver already protects passengers and passengers. If necessary, the driver can contact his Health insurance turn around. In the case of passenger accident insurance, you pay twice for the protection.
- If your luggage is damaged or lost while on vacation, it is annoying. The luggage insurance promises quick replacement. There are many exceptions to your disadvantage in the insurance conditions. In reality, reimbursement is rare. Tour operators, airlines or hotels are more likely to pay if they are found to be guilty of loss or damage. Many of your luggage is covered by household insurance.
Health insurance, occupational disability insurance and liability insurance are absolutely necessary. Consumer advocates and the Association of the insured recommend that you take out insurance against accidents. You should get term life insurance with a family with children and with loan debts. Homeowners insurance is important for the property owner. If the inventory is expensive, a good one is recommended Household insurance.