Save money without risk: How to effectively reduce your insurance costs

Save money without risk: How to effectively reduce your insurance costs

According to a report by www.merkur.de, you can often save money on insurance through small adjustments without having to forego the necessary protection. This means that unnecessary policies can be canceled, annual payments can be made instead of monthly contributions, the deductible can be increased and the benefits can be adjusted to the current life situation.

A thorough review of insurance policies can avoid unnecessary expenses. According to consumer advice centers, some insurance policies are unnecessary anyway, especially those that cover small damages, such as glasses or luggage insurance. By canceling such policies, insured people can save money.

Furthermore, many insurance companies offer discounts for annual payments, which can provide significant savings in the long term. Increasing the deductible can also lead to a reduction in monthly premiums.

Adapting insurance benefits to your current life situation is crucial. Lifestyle changes, career developments or family changes may require adjustments to insurance policies. For example, you can save money if a family member moves out and the private liability insurance can be switched from the family tariff to an individual tariff.

Overall, these measures offer the opportunity to optimize insurance costs and still be effectively protected. The impact of these optimization measures could mean a significant reduction in monthly insurance expenses for consumers. Companies in the insurance sector, on the other hand, could expect a decline in the number of existing insurance policies if customers cancel unnecessary policies and increase the deductible. So it remains to be seen how these changes will affect the market and the industry as a whole.