Don’t Miss Out: The Importance of Reviewing Your Insurance Policies

FFinancial matters are not exactly among the most popular activities for German citizens. Once insurance has been taken out or a savings plan has been set up, the documents lie dormant in a folder. And even if experts point out that you should check from time to time whether the contracts concluded still meet the current requirements, this request is often ignored.

An insurance check like this can definitely pay off. Anyone who took out private liability insurance seven or more years ago should take a look at their documents and look for current offers on the market. Because these generally cover more risks. “Newer policies, for example, cover the feed-in of self-produced energy with profit generation to a limited extent, keyword photovoltaic systems or balcony power plants,” says Kathrin Jarosch, press spokeswoman for the General Association of the German Insurance Industry. In addition, new contracts are often cheaper.