There is always so much month left at the end of the money. Do you know that too? That the salary no longer covers the expenses with the currently exploding costs? It’s time for an honest check: Where can I save money? Especially where the 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 is usually cheaper if you pay your premium once a year instead of monthly,” says Julia Alice Böhne from the consumer protection organization Bund der Versicherte based in Hamburg. The same generally applies to all other insurance companies. Insurers charge around five to ten percent “installment payment surcharge” on the annual premium, e.g. B. is paid monthly. The top value is even 27 percent surcharge.
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The background: fewer payment dates mean lower administration and personnel costs for the provider. “They then 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 call money account each month. Then you can painlessly pay annually in the following year and save money.
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Regular tariff comparison saves money for insurance companies
Böhne recommends taking a close look at your own insurance policies on a regular basis: “Some insurance coverage is getting old and has long been cheaper and on better terms.” Every now and then it makes sense to switch to another provider.
Tip: There are numerous comparison calculators on the Internet. When comparing, however, be sure to pay attention to the 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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Changed life situation, changed performance: Only 50 percent costs
The kids are out of the house, but you’re still paying for family insurance with private liability insurance? Here you can save money if you change the tariff to your new life situation.
Another example: you have moved in with your partner: now it is enough to have only one household insurance policy instead of two. The other can be canceled and you have a lot 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’s perhaps the most logical of all insurance-saving tips: Don’t take out unnecessary insurance or cancel it as soon as possible. Mobile phone, glasses and luggage insurance are almost always superfluous. “They usually have a poor range of services, but are comparatively expensive,” explains Böhne.
Tip: Ask what costs you would incur in the event of an insurance claim. If you could pay the cost from savings, you wouldn’t need insurance. An example: If your beloved mobile phone breaks, it’s annoying. However, buying a new smartphone will not put you in existential difficulties. Mobile phone insurance is therefore 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 on a deductible. This is possible, for example, in personal liability or motor vehicle comprehensive insurance. What speaks for a deductible? “It protects against the insurer terminating the insurance contract in a minor case, since the insurance is only claimed for really existential damage,” says Böhne.
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All insurances from one provider? Review discounts critically
It’s the most popular trick used by insurance companies to rip consumers’ money out of their pockets: they offer discounts if you buy multiple policies from them. Sounds tempting, but there are at least two catches: 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, an insurer rarely offers the best value for money in all areas.
Tip: If you still want to rely on an advisor, it is best to look around for an independent insurance broker who is not tied to a company. Even better: get the best offers on the Internet yourself, so you also save money on the consultant’s commission (hidden costs that are automatically passed on to the contracts).
Premium plans are expensive and not always better
Do not conclude any so-called premium tariffs without a thorough examination: “The included services may exceed the actual need, and needs-based insurance cover can also be taken out more cheaply,” says Böhne.