“Sorting Through Your Insurance: Which Policies are Necessary and Which are Not”

Insurance should protect people in all situations – but not every policy is really necessary. Here it is worth checking your own documents.

According to the Consumer center (VZ) Germans spend an average of around 2,000 euros a year on their insurance. This is how you want to protect yourself from all eventualities. However, the insurance policies taken out are not always the right ones or appropriate to the private situation. For example, families have different requirements and needs than single people. Checking your own policies should therefore be a regular feature on the agenda – this way you can not only save (many insurance policies can also be declared for tax purposes), but also have the best possible protection if the worst comes to the worst. But which insurances are essential and which are unnecessary?

You can save the money: which insurances are superfluous

Sea Consumer Center the insurance policies that cover comparatively minor damage are usually superfluous. For example, luggage insurance is only worthwhile in the rarest of cases, since a suitcase (including its contents) is relatively easy to replace. The glass, death benefit or private unemployment insurance are also loud VZ usually unnecessary.

Extra insurance, for example for bicycles, mobile phones, laptops or glasses, is only worthwhile if the purchase was very expensive or if particularly comprehensive protection is required. Otherwise you can also do without the policies here, he writes North German Broadcasting (NDR). Tip: If you want advice on insurance coverage, you can in most cases contact the relevant consumer advice center directly. They offer special consultation appointments.

Also superfluous according to the consumer advice center: death benefit insurance. In the case of older customers in particular, the amounts paid out are often lower than the contributions paid.

Insurance you should not do without

There are two types of insurance that are a must: health insurance and liability insurance. Health insurance is required by law – here, however, it is worthwhile to compare the various health insurance companies and their offers and bonus programs. International health insurance can also be worthwhile for frequent travelers.

Don’t miss it: You can find everything to do with money in the money newsletter from our partner Merkur.de.

Personal liability insurance covers personal injury, property damage and financial loss in the private sector. This is especially useful when you accidentally cause damage, whether it’s a scratch in the car, a wine stain on the sofa, or an accident on the road. Without liability, repairing the damage can quickly become very expensive.