Don't miss the deadline for changing your car insurance - tips from financial experts

Don't miss the deadline for changing your car insurance - tips from financial experts

According to a report by MDR Wirtschaftsredaktion, there are some important changes and innovations that consumers should pay attention to in November. The deadline for changing your car insurance is approaching. If you want to change your insurance, you must cancel the contract by November 30th, one month before the contract expires. However, there is one exception: If the insurer announces a premium increase after the deadline, the insured person has an extraordinary right of termination. In this case, he has one month to terminate the contract.

Another innovation concerns the warning of disasters via SMS. The Federal Office for Civil Protection and Disaster Relief would like to inform cell phone users about the dangers via SMS in the event of a disaster. However, there were still some problems during an initial nationwide test run. Many older cell phones were unable to receive the alerts. However, as the technology continues to develop, the number of devices capable of reception is expected to increase. From November 23rd, the warnings should also be able to be sent via a special broadcast channel that can also be received by older cell phones.

From November 1st, it will also be possible to collect new identity cards, passports and electronic residence permits from document issuing machines. This is intended to save citizens time and avoid administrative procedures. However, this option will not be available everywhere and you should check beforehand whether the responsible office has such machines.

There are also discount days in stores in November, such as Black Friday on November 24th and Cyber ​​Monday on November 27th. However, consumers should be careful and compare in advance whether the products on offer are really cheaper. You should also pay attention to fake shops.

Another important topic in November is the “Law for the Further Development of Skilled Immigration”, which comes into force on November 18th. This law is intended to reduce bureaucratic hurdles and give more foreign skilled workers access to the German labor market. Among other things, lower earnings limits for the “Blue Card” apply to skilled workers from non-EU countries with a university degree. In addition, the list of professions for which a Blue Card is awarded will be expanded and qualifications from abroad will be recognized more easily.

These innovations have different impacts on the market, the consumer and the industry. The deadline for changing car insurance affects the insurance market as insurance providers have to review their rates and conditions in order to attract new customers or retain existing customers. The evolution of SMS disaster alert technology is impacting the wireless market as wireless carriers need to adapt their networks to reach a larger number of devices. The ability to collect documents from automated issuing points simplifies the process for consumers and reduces the burden on authorities. This can lead to more efficient processing. Retail discount days influence the retail market and impact consumer demand and purchasing behavior. The further development of skilled immigration makes it easier for foreign skilled workers to access the German labor market and can thus reduce the shortage of skilled workers in certain sectors.

Source: According to a report from www.mdr.de