There is always so much left at the end of the money. Do you know that too? That salary no longer covers expenses with costs currently exploding? Time for an honest check: Where can I save money? Especially when expenses are regularly debited from the account. For example, with insurance companies. KURIER has put together seven tips that will save you several hundred euros a year.
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Annual insurance payments save up to 27 percent
You can save on insurance with just one simple step. “For example, with car insurance, it’s usually cheaper if you pay your premium once a year instead of monthly,” says Julia Alice Böhne of the Hamburg-based consumer protection organization Bund der Versicherte. The same generally applies to all other insurance companies. Insurers charge about five to ten percent “installment fee” on top of the annual premium, e.g. B. is paid monthly. The maximum value is even a surcharge of 27 percent.
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The background: Fewer payment dates mean lower administration and personnel costs for the provider. “Then they pass these savings on to consumers in the form of discounts,” says Böhne.
Tip: Ask your insurance company how much it costs if you pay annually. Divide the amount by twelve and put the sum into a demand account each month. Then you can painlessly pay annually in the following year and save money.
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Regular Rate Comparison Saves Insurance Companies Money
Böhne recommends taking a close look at your own insurance on a regular basis: “Some insurance coverage is becoming obsolete and has long been cheaper and in better condition.” From time to time it makes sense to switch to another provider.
Tip: There are numerous comparison calculators on the Internet. However, when comparing, be sure to pay attention to performance. For example, what is the deductible? How much and what exactly is insured? In the event of damage, it is ultimately crucial that the insurance contract offers sufficient protection, “and not that it is the cheapest,” says Böhne.
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Change of life situation, change of performance: only 50 percent of the costs
The kids are away from home, but are you still paying for family insurance with private liability insurance? Here you can save money if you change the rate to your new living situation.
Another example: you have moved with your partner: now it is enough to have only one home insurance instead of two. The other can be canceled and you have much more money in your pocket because you save half. A joint contract is also sufficient for private liability insurance.
Canceling superfluous insurance saves 100 percent of costs
It is perhaps the most logical of all insurance savings tips: Do not take out unnecessary insurance or cancel it as soon as possible. Mobile, glasses and luggage insurance are almost always superfluous. “They generally have a poor range of services, but they are comparatively expensive,” explains Böhne.
Tip: Ask what costs you would incur in the event of an insurance claim. If you could afford the cost of savings, you wouldn’t need insurance. An example: if your beloved mobile phone breaks, it is annoying. However, buying a new smartphone will not put you in existential difficulties. Therefore, mobile phone insurance is superfluous. It’s different when your house burns down. In such a case, without homeowners insurance, you face financial ruin.
Deductible lowers insurance premiums
The insurance premium can also be partially reduced by agreeing to a deductible. This is possible, for example, in personal civil liability or 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.
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All insurance from a single provider? Review discounts critically
It’s the most popular trick used by insurance companies to scam consumers: they offer discounts if you buy multiple policies from them. It sounds tempting, but there are at least two pitfalls: on the one hand, you run the risk of taking out insurance that you don’t even need (after all, there is a generous discount). On the other hand, one insurer rarely offers the best value for money in all areas.
Tip: If you still want to rely on an advisor, it’s best to find an independent insurance broker that isn’t tied to a company. Even better: if you get the best deals on the Internet yourself, you’ll also save money on the consultant’s commission (hidden costs that are automatically assigned to contracts).
Premium plans are expensive and not always better
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.