Tip 3: Regular price comparison
“In the property and casualty insurance industry, contracts shouldn’t sit idle in folders for years,” advises consumer advocate Weidenbach. It is better to check contracts at regular intervals. Julia Alice Böhne also sees it this way: “Because some insurance coverage is becoming obsolete and has been cheaper and better available for a long time.”
However, when examining insurance contracts, the focus should not be on the amount of the premium, but on the insured benefits, says Böhne. In the event of damage, it is ultimately crucial that the insurance contract offers adequate protection, “and not that it is the cheapest”.
Tip 4: cancel superfluous policies
Particularly plausible: Not taking out superfluous policies in the first place or canceling them as soon as possible. From the point of view of the Federation of Insureds, these expendable insurances include mobile, glasses or luggage. “They generally have a poor range of services, but they are comparatively expensive,” explains Böhne.
Tip 5: The deductible lowers premiums
The insurance premium can also be partially reduced by agreeing to a deductible. This is possible, for example, in private civil liability or all-risk motor vehicle insurance. What speaks of a deductible? “It protects against the insurer’s termination of the insurance contract in a minor case, since the insurance is only claimed for truly existential damage,” says Böhne.
Tip 6: Critically check bundle discounts
Many insurers lure them in with so-called benefit packages: they offer discounts to consumers if they take out multiple policies with them at the same time. “One insurer, for example, offers a package discount on insurance policy premiums of up to 15 percent,” explains Böhne. But even if the offers seem attractive at first glance, she should always review them carefully and only conclude if they are not only cheap, but also offer protection that is tailored to her individual needs.
Consumer advocate Weidenbach points out that insurers that offer different contracts are not the best insurers in all areas. “If insurance companies have very good terms in one area, it doesn’t automatically apply to others,” says Weidenbach.
Tip 7: Don’t be blinded by premium rates
Don’t conclude any so-called premium rates without a thorough examination: “Included services may exceed actual need, and need-based insurance coverage can also be purchased more cheaply,” says Böhne.
Compare, for example, the Stiftung Warentesthelfen when looking for good and cheap insurance. It may also be advantageous to seek personal advice at one of the consumer advice centres.