Savin goninsur online Debts Insurance check: Which insurance is important?

Insurance check: Which insurance is important?

It is not always easy to keep track of which private insurance is important and which is not. This is usually dependent on the particular life situation. In addition, the price is always a deciding factor. Consumers should first compare insurance policies before each graduation to find the best value for money for their individual needs.

When it comes to insurance, you’ll save the most if you do not take out any superfluous policies, and you’ll win the most if you know all the insurances you need. Further savings options include the deductible or the conclusion of several policies with a provider.

What makes an insurance sense

First and foremost, insurance is sensible if it covers economically damaging or even existence-threatening losses, which can amount to millions in particularly serious cases and thus can mean financial ruin. For example, a personal liability insurance is indispensable in the opinion of any expert, since it comes into play if you have caused harm to others, even if this was grossly negligent.

On the other hand, many insurance policies are simply superfluous; a frequently cited example here represents among others the occupational accident insurance.

Assessment always on a case-by-case basis

Please note that every person and every life situation is unique. Therefore, always check for your particular case individually, whether an insurance makes sense for you. So it may well be that a here as often unnecessarily listed insurance exactly makes sense for you. If you are unsure, we recommend that you get personal advice from an expert, such as an insurance advisor.

Insurance that you should have

Legally required
  • Statutory health insurance (unless privately insured)
  • Car insurance (if vehicle owner)
Recommended by experts
  • Private liability insurance
  • Occupational disability insurance (if dependent on earned income)
Often useful
  • Household
  • Homeowners insurance (for property owners)
  • Private supplementary health insurance
  • Term life insurance (for families)

The formula for a proper insurance situation could be: Protect yourself against all major risks and life-threatening claims and refrain from unnecessary small insurance that you do not need. Some insurance policies are compulsory in Germany, including the statutory health insurance (unless you are privately insured or have other claims to cover illness) or the motor vehicle liability insurance, if you are a vehicle owner.

Other private insurance is not required and is voluntary. Not obligatory, but an absolutely recommendable private insurance is the private liability insurance. This assumes personal injury and property damage that you and possibly co-insured inflict on third parties – provided these were not intentionally caused. Personal liability is considered the most important private insurance.

Experts also consider occupational disability insurance as useful for anyone living off their earned income. Other useful private insurance (which will be discussed in more detail below, among others) can be household contents insurance, building insurance or supplementary health insurance.

Some policies can be very useful for certain groups of people and not for others. For example, the life insurance for families is absolutely recommended, while it is superfluous for singles.

Insurance, which can often be dispensed with

Of course, it is not possible to say at a flat rate what insurance can be waived, as one or the other policy, which for many is superfluous, can be very important for certain groups of people. It is clear, however, that there are several insurance companies in this country, which primarily bring something to the respective provider, but do not provide much added value for the insured.

The Confederation of Insured (BdV) made this a list of private insurance, which are superfluous for most people:

Glass breakage insurance The financial burden, if you should destroy a disc in the rare case, is probably never financially ruinous.
glasses insurance Jumps for glasses only in case of damage or a significant change in vision and granted usually no higher quality glasses. Almost always has to be paid.
Hospital Cash Insurance Usually only useful for self-employed.
Luggage insurance Insurers pay only rarely full, as often negligent behavior is accused. In addition, luggage is often covered by home insurance.
mobile phone insurance A broken or lost phone does not lead to financial ruin. In any case, only the time value of your mobile phone will be compensated.
Insurance against “domestic emergencies” Tenants must pay for self-caused damage to rental equipment anyway. A lost key is also not life-threatening.
Accident insurance with premium refund According to BdV a “Milchmädchen bill”. Sums they get back have been paid in advance. Services often inadequate.
Personal Accident Insurance Nonsense, as the motor vehicle liability in a self-inflicted accident.

Source: Federation of Insured

Overview: What do private insurance cover and which are worthwhile?

In the overview you will find out what individual private insurance covers and which basically make sense. Important: As mentioned above, the latter can not be assessed as a flat rate and only serves as an orientation in the policy jungle.

Occupation and leisure

Private liability insurance
Indispensable for everyone
  • Damages that you and possibly co-insured inflict on a third party (personal injury and property damage), unless caused intentionally.
  • Applies as the most important private insurance, as German law allows compensation claims in unlimited amounts.
  • Cheap and usually customizable to your own needs.
Legal expenses insurance
Meaningful addition, not mandatory
  • Attorney fees, court costs, witness fees / expert fees, bail bonds and costs of the adversary in the event of legal action are usually incurred by the insured party.
  • Costs will be paid according to the amount specified in the contract or without coverage.
Private accident insurance
Often only meaningful if an occupational disability insurance application was rejected (eg due to a previous illness)
  • Grants (depending on the chosen tariff) a one-time sum or monthly pension as well as other benefits if you become disabled through an accident (not illness!).
  • Alternative to occupational disability insurance.

Car and travel

Automobile liability insurance
Indispensable, duty for vehicle owners
  • Duty for every vehicle owner.
  • Covers any damage you inflict on road traffic to other road users.
Very important if no full insurance, useful especially for older vehicles
  • Protects against damage to your own vehicle caused by fire, marten bites, wild deer, explosion, theft, short circuit, broken glass or due to force majeure.
  • Usually much cheaper than full insurance.
Comprehensive insurance
Very important, if no partial insurance, especially useful for new vehicles
  • Secures extensively against all damage to your car.
  • In contrast to the partial coverage also covers damage caused by self-inflicted accident, vandalism or driver evasion.
  • Costs depend on several aspects such as vehicle type or damage-free class.
  • More expensive than partial coverage.
Travel insurance
Useful when booking expensive holiday packages and for families or elderly and sick people traveling
  • Spends the cost of holiday travel if it can not be taken.
  • Prerequisite for reimbursement is valid reason such as serious illness or injury, death of a relative or loss of employment.
  • Is often worthwhile only for particularly expensive and / or early booked vacation packages, superfluous for cheap holiday trips.



life insurance
Meaningful, depending on life situation – especially recommended for families with children or high financial burdens
  • Can be financial security for you and / or your survivors in the event of death.
  • There are various forms of life insurance, including z. B capital-forming life insurance, term life insurance or numerous supplementary insurance such as accidental death additional or additional pensioner insurance.
  • Insured event dependent on contractual agreement. Possible benefits include, for example, the death of the insured person as a survivor (death benefit insurance), at a specific, predefined point in time (endowment insurance) or even in the event of a serious illness, long-term care etc.
  • Extensive advice adapted to the life situation is recommended.
Term life insurance
Useful for certain groups of people
  • Covers the need for care of survivors in the event of death, including, if necessary, current loans.
  • Since only death is covered, usually relatively cheap.
  • Deposited sums lapse if beneficiaries die before the insured person.
  • Recommended for families with children, single parents or unmarried partners with high monthly burdens.
Disability insurance
Expresses meaning to anyone who lives off his earned income
  • Covers financial needs in the event of disability due to illness or injury.
  • Generally considered the second most important private insurance after the liability.
  • Can be taken out as a separate policy or supplementary occupational disability insurance in combination with term life insurance.
  • The earlier the contract is concluded, the cheaper.
Funeral insurance
Not useful for older people, better alternative for burial provision
  • In the event of death, pays out pre-agreed amounts to the survivors.
  • Usually only worth it if it is completed early. For the elderly, insurance is often expensive.
  • A better alternative to financial provision in funerals is term life insurance.


Health and care

Private health insurance
Can be useful for civil servants, the self-employed and well-paid employees
  • Better / more comprehensive services than the statutory health insurance (GKV). Allows, depending on the tariff, services such as chief physician treatment, single bed room in the hospital etc.
  • Usually more expensive than SHI, contribution depending on individual risk profile.
  • Mostly suitable for civil servants, well-paid employees and the self-employed.
Private supplementary health insurance
Can be a useful supplement to the GKV, if there are relevant services missing
  • Supplemented services of the GKV.
  • Possible additional services include: hospital daily allowance, visual aids, free choice of doctors, high-quality dentures, etc.
dental insurance
Useful if services of the GKV do not meet the own demands on the dental treatment
  • Provides dental care services that are not covered by statutory health insurance.
  • Services include: Professional teeth cleaning, plastic fillings, high-quality dentures, caries prophylaxis, etc.

Tips for saving on insurance

If you want to save on private insurance, you should first consider which policies are really useful for you and your individual life situation. Do you really assess your risks: Do you really need accident protection if you sit in the office while working and have a short way home? Is a travel cancellation insurance worthwhile if you usually only drive to the North Sea every few years? Do you need a more expensive comprehensive insurance for your ten year old car?

On the other hand, you should not refrain from certain insurance policies that are important to you personally and respond well to changes in your life situation. If, for example, you acquire a property, building insurance can suddenly make sense. If there is an offspring, the idea of ​​a term life insurance to protect the children may be the right one.

Life is dynamic, insurance is the same – if you tailor the policies to your individual needs, you can save money. If you find that you are paying for nonsensical policies, you should cancel superfluous insurance.

Compare insurances – pay attention to differences in price and performance

Perhaps the most important tip of all: compare offers. Do not just close the first insurance, but compare different providers. With FinanceScout24 you can easily get an overview of the confusing insurance market.

With many policies, there are big differences in costs, while the benefits remain the same. This is especially the case with motor vehicle insurance and building insurance. Even with term life insurance and travel insurance, there are sometimes significant cost differences.

Quantity discount: For insurance from one source save

If you take out three or four insurance policies with the same provider, you may be able to save. Many insurers offer a volume discount that you want to use to tie customers. Often you can save five or ten percent of the contribution amount. Ask the various providers for a quantity advantage. For example, it may make sense to complete household insurance, liability, homeowner’s and elementary damage insurance bundled from one source.

Save with deductibles

By agreeing to a policy excess, you can reduce the cost of a policy. As a customer you pay part of the costs of claim settlement up to the amount of the deductible itself. All costs beyond that are paid by the insurance company. In return, the provider reduces the costs of the respective policy.

Particularly meaningful is a deductible especially with the motor insurance. Double advantage: Here, on the one hand, the insurance premium can be lowered and, on the other hand, you are not upgraded if you take on minor minor damage yourself.

A deductible for insurances such as building insurance or legal expenses insurance can also make sense, since serious damage to a building and the occurrence of a legal dispute are unlikely. Even with private health insurance makes a deductible sense, provided you are not chronically ill. Those who are young and healthy often benefit for years from lower costs due to the deductible.