Why many insurance policies are unnecessary: ​​experts warn!

Why many insurance policies are unnecessary: ​​experts warn!

More and more experts are warning that many insurance policies are unnecessary or simply do not make sense. Especially that one In Franconia addresses how consumers can lose a lot of money through unnecessary policies. An example is residual debt insurance for loans, which incurs high costs but offers only limited benefits.

There is a lot of uncertainty, especially in the area of ​​travel cancellation insurance. These insurances are actually intended to protect against financial losses in the event of travel cancellations, but the coverage is often questioned. Insured persons must be warned that questions about the risk are often not asked when submitting the application, so that the decision about insurance coverage is only made when a claim is made. According to the BDV's assessments, the insurance coverage is questionable or even useless.

Travel cancellation insurance in detail

Loud Verivox Travel cancellation insurance includes compensation for various unforeseeable events such as serious accidents, illnesses, deaths in the family, or sudden job loss. But not all reasons are covered: Divorce or new work commitments are usually not covered. Even in the event of strikes or force majeure, there is generally no service.

The difference between trip cancellation insurance and trip interruption insurance is that the latter protection takes effect when the trip has already begun. It is often a good idea to take out travel cancellation insurance, especially if the potential costs of cancellation could put a significant strain on your household budget. A comparison of providers and their tariffs can result in significant savings.

Insurance cheese of the year 2024

A particularly absurd award recently went to Astra Versicherung AG. She was named “Insurance Cheese of the Year 2024” for “Tutorial Insurance Plus”. With an annual premium of 29.99 euros, this insurance offers payments of 400 euros or 600 euros for educational services during a hospital stay. According to lawyer Sandra Klug, there is no real need for such insurance because schools already offer schooling during hospital stays.

There are also similar critical reviews in the area of ​​luggage insurance. As already mentioned in InFranken's reporting, many exclusions and restrictions can often be found in the contracts. Luggage insurance requires the insured to keep an eye on their luggage throughout the trip in order to make claims. In addition, grossly negligent behavior can reduce the claims or eliminate them entirely.

Overall, it is clear that consumers should be constantly informed about which insurance policies actually make sense. By checking and comparing all offers carefully, you can avoid unnecessary costs and, if in doubt, frustrating experiences.