A comparison of insurance companies is always worthwhile.
The insurance industry is one of the most important economic sectors in Germany. The variety of insurance products is accordingly large and confusing. But: which one do you really need? The expert says: “Two are indispensable.”
Insurance companies promise to make life carefree. But until that happens, it is important to master a sheer unmanageable number of products, as the more than 600 insurance companies in Germany currently manage more than 430 million contracts. According to the German Insurance Association, 114.2 million are in motor vehicle insurance alone . “But not everyone needs a car insurance,” says Hermann-Josef Tenhagen, editor-in-chief of the independent consumer portal “Finanztip”. “Condition is the possession of a car.”
Similar to the car insurance, it is a house insurance. “This is not mandatory,” Tenhagen points out. “If I’m still screwing up Billy shelves from Ikea at home, this insurance is not worth it.” “If I have designer furniture, high-priced consumer electronics or even a new, expensive kitchen, then a home insurance insurance offers in any case.”
And even with risk life insurance, it is important to weigh up beforehand. “If I have a wife, child, family, I should think about such an insurance, because exactly they would be the beneficiaries in the event of death and then financially secure,” explains Tenhagen. “But I am single, without attachment or family bond is such an insurance superfluous.”
Two are indispensable
On the other hand, the expert considers two insurance companies indispensable – health insurance (KV) and private liability insurance (PHV). “It’s not possible without them,” said Tenhagen. While a KV reimburses the insured in whole or in part for the costs of treatment for any illnesses, the PHV protects the insured and his family from self-inflicted damage claims against third-party claims. Since liability is defined by law as “full”, ie without an amount limit, the amounts secured in the PHV can amount to several millions.
“A private liability insurance is still not expensive,” says expert Tenhagen. “Singles are good with around 60 euros a year, families with just over 100 euros.”
The statutory health insurance , on the other hand, is income-dependent. Employer and employee share the amount to be paid. Currently, the contribution rate is 14.67 percent of gross income. Added to this is an additional contribution of one percent or more, which the employer alone has to bear. In the case of CT, therefore, the additional contributions make the difference on the cost side.
Compare is always worthwhile
“If my health insurance has become one percent more expensive than the cheapest in the market, that means with a gross salary of, for example, 3000 euros, that I have to add 30 euros per month from their net income,” explains Tenhagen. “That’s 360 euros a year.” 360 euros, the insured need to save elsewhere.
However, not only the cost side plays a role in health insurance. Rather, it is important to find the individually perfect coverage for each insured person. “Since you can take a few euros more into account,” Tenhagen is sure.
For a car insurance, the price depends on how long someone already has a driver’s license and drives accident-free. “Here it is so that the cheapest and the most expensive are always separated by about 200 percent,” says expert Tenhagen. If the cheapest costs 300 euros, the most expensive is fast at 900 euros. This is – in the ideal case – a savings potential of 600 euros. “A comparison is therefore always worthwhile, because savings can be with all insurance – even with the two indispensable.”