Help! Which insurance is really important?

The Stiftung Warentest and the Bund der Versicherte (BdV) show what important insurance every consumer should have. On the other hand, both insurance companies strongly advise against taking insurance because they are unnecessary and overpriced . Since, according to the General Association of the German Insurance Industry, every German spends around € 2,300 on average for his insurance cover (as of 2013), it is worthwhile for many consumers to say goodbye to superfluous contracts and only pay for the really important insurance.

Stiftung Warentest shows which insurance is important

The Finanztest, the consumer magazine of the Stiftung Warentest, regularly divides the most common insurance policies into important and unimportant policies. Private health insurance and motor insurance for car owners should have been completed by all citizens .

Service: You have not yet completed private liability insurance? At the same time, the insurance, which is important from the point of view of the financial test, can be concluded for just a few euros a year . With the private liability comparison calculator, you can find out which insurers can offer you a balanced price-performance ratio.

Depending on their personal life situation and budget for insurance contributions, further insurances are “highly recommended”, according to Stiftung Warentest.

  • A term life insurance provides a survivor’s benefit in the event of death and is therefore suitable for people who financially care for a family or a partner .
  • An occupational disability insurance pays a monthly pension in case of occupational disability , which supplements or supplements the lower benefits from the statutory pension insurance. Alternatively, disability insurance offers children and adolescents child disability insurance.
  • A travel health insurance is especially recommended to those insured persons who travel abroad . The insurance pays for medical treatment and, if necessary, repatriation to Germany. For minor benefits, this supplementary insurance is also recommended for private insured.

Which insurance is important or meaningless? It depends on the need

In addition to the above-mentioned insurances, those are added that are only relevant and very important for certain groups of people . This includes, for example, the animal husbandry liability insurance for horse and dog owners. The dog liability insurance is even required by law in some states . For oil tank owners, the water damage liability insurance makes sense.

For homeowners or builders, the Stiftung Warentest also advises the conclusion of a homeowners insurance and landowners or builders liability insurance. In particular, on the building insurance should be no home owner, since the insurance can protect him from particularly heavy losses such as a house fire or a roof covered by storm from significant financial burdens.

These insurances are a waste of money

Not every insurance is important. The Confederation of insured assessed in his check as well as the Stiftung Warentest some insurance as pointless . The respective contracts usually cost only unnecessarily money or provide protection that is already covered by other insurance. Thus, from the point of view of both institutions, the occupational accident insurance is superfluous , since already here the legally required motor vehicle liability insurance for compensation claims arises.

Popular but pointless: mobile phone and eyewear insurance

The BdV also advises against the conclusion of a mobile phone insurance. It is now often offered directly when buying a new smartphone . What many consumers do not know: The theft of the cell phone is often not covered by the mobile phone insurance, but only on the external insurance of home contents insurance. In addition, the insurance premiums measured by the insurance coverage are far too high.

Eyewear insurance is also a waste of money. Because they rarely reimburse the new value of a pair of glasses. In addition, the loss of glasses does not mean an “existential, financial crisis,” said Bianca Boss of the BdV to the German Press Agency. Therefore, you can safely do without a glasses insurance.

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