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Expert explains: These insurances are a must
Find out which insurance policies are really necessary and which ones can save you money. An insurance expert provides important insights.
Expert explains: These insurances are a must
An expert explains which insurance is essential and which can also be useful. The costs of insurance in Germany are not insignificant, with private households spending an average of 1,596 euros on insurance in 2022. The two compulsory insurances in Germany are health insurance and motor vehicle liability insurance. For all other insurance policies, individual freedom of choice applies.
Dr. Peter Grieble, insurance expert at the Baden-Württemberg Consumer Center. V., recommends asking yourself which financial risk would be most serious in order to prioritize insurance accordingly. Biometric risks such as illness, accidents or need for care are particularly important as they can have a severe impact on quality of life and financial stability.
Indispensable insurance includes private liability insurance, occupational disability insurance, child disability insurance and term life insurance. These offer protection against financial losses in the event of serious events such as accidents, illnesses or occupational disability. In addition, residential building, natural hazard and household contents insurance as well as fully comprehensive insurance can make sense depending on your personal situation.
Dr. Grieble points out that glass breakage or smartphone insurance is typically viewed as unnecessary due to its low financial impact. It is important to weigh up the insurance coverage according to your own financial possibilities and needs. When taking out insurance, the question of prioritization and substitutability potential should always be asked in order to make an informed decision.