Insurance knowledge: The three policies everyone needs now!

Insurance knowledge: The three policies everyone needs now!

The decision for or against insurance presents many people with a challenge. Financial risks vary greatly from person to person, requiring an individual approach. While general recommendations usually only exist for private liability insurance, it is crucial to be clear about the risks that need to be covered. These risks may include, but are not limited to, accidents, occupational disability and liability damages. Anyone who is unsure whether they can bear the potential financial losses themselves should consider taking out insurance. Insurance is particularly advisable if a loss could threaten your existence. In addition, the insurance premium must be appropriate – it should be proportionate to the risk covered. High premiums for unimportant risks make little sense, while existential threats can remain uninsured. Insurance is not an end in itself; Conscious selection is important in order to effectively hedge financial risks.

Main types of insurance

A sound understanding of the basics of insurance is essential in order to optimally protect yourself. Unforeseen events often pose significant financial risks. Numerous types of insurance that are important for different life situations offer a good safety net. According to Insurance Basics, the following insurance policies should be considered:

• Krankenvorsorge: Übernahme der Kosten bei gesundheitlichen Problemen.
• Haftpflichtversicherung: Schutz gegen Ansprüche Dritter.
• Unfallversicherung: Finanzielle Unterstützung im Fall eines Unfalls.
• Gebäudeversicherung: Schutz vor Schäden am Eigentum.

In Germany there are also compulsory insurances such as health insurance and motor vehicle liability insurance, which offer basic protection. In addition to these statutory insurance policies, there are also private insurance options that often cover individual risks.

Individual review of insurance needs

Life events such as marriage decisions or the purchase of a home should be opportunities to review personal insurance coverage. It is important to differentiate between core insurance and additional options to meet individual needs. Comparison portals are a useful way to get an overview of suitable offers, with personal advice from an insurance broker often offering tailor-made solutions.

To ensure optimal coverage, existing contracts should be reviewed regularly. This gives you the opportunity to cancel or change if the conditions are better. In the event of damage, it is crucial to report the incident immediately to the insurance company, compile all relevant information and communicate clearly and honestly.