Insurance premiums can be expensive. But there is often potential for savings. Consumers should be aware of this advice.
Consumer prices have risen. You notice that not least in the supermarket or at the gas station. The question arises: Can money be saved somewhere else in return? Yes, for example with insurance companies. If you follow a few tricks, you drive cheaper.
Tip 1: Annual payment
You can save on insurance with just one simple step. "For example, with car insurance, it's usually cheaper if you pay your premium once a year instead of monthly," says Julia Alice Böhne from the consumer protection organization Bund der Verversicherungten, based in Hamburg. The same generally applies to all other insurance companies.
The background: fewer payment dates mean lower administration and personnel costs for the provider. "They then pass these savings on to consumers in the form of discounts," says Böhne.
Tip 2: Adjustment of benefit after change in life situation
Insurance contracts should always reflect the current life situation as far as possible. "It saves contributions, for example, after family members have moved out, to have private liability insurance switched from a family tariff to an individual tariff," explains Elke Weidenbach from the NRW consumer advice center in Düsseldorf.
Or: Spouses and registered life partners only need household contents insurance after moving into the shared apartment. "And a joint contract is also sufficient for personal liability insurance," says Böhne. It is therefore worthwhile to select insurance contracts and take a close look at each individual policy.
Tip 3: Regular tariff comparison
"In liability and property insurance, contracts shouldn't sit dormant in folders for years," advises consumer advocate Weidenbach. It is better to check the contracts at regular intervals. Julia Alice Böhne also sees it this way: "Because some insurance cover is getting old and has long been cheaper and available on better terms."
When examining insurance contracts, however, the focus should not be on the amount of the premium, but on the insured benefits, says Böhne. In the event of damage, it is ultimately crucial that the insurance contract offers adequate protection - "and not that it is the cheapest".
Tip 4: Cancel superfluous policies
Particularly plausible: Do not take out superfluous policies in the first place or cancel them as soon as possible. From the point of view of the Federation of Insureds, such dispensable insurances include mobile phone, glasses or luggage insurance. "They usually have a poor range of services, but are comparatively expensive," explains Böhne.
Tip 5: Deductible lowers premiums
The insurance premium can also be partially reduced by agreeing on a deductible. This is possible, for example, in private liability or motor vehicle comprehensive insurance. What speaks for a deductible? "It protects against the insurer terminating the insurance contract in a minor case, since the insurance is only claimed for really existential damage," says Böhne.
Tip 6: Check bundle discounts critically
Many insurers lure them with so-called advantage packages: they offer consumers discounts if they take out several policies with them at the same time. "For example, an insurer offers a bundle discount on the premiums for the insurance policies taken out of up to 15 percent," explains Böhne. But even if the offers seem attractive at first glance, you should always check them carefully and only conclude them if they are not only cheap, but also offer protection that is tailored to your individual needs.
Consumer advocate Weidenbach points out that insurers who offer different contracts are not top insurers in all areas. "If insurance companies have very good conditions in a certain area, this does not automatically apply to others," says Weidenbach.
Tip 7: Don't be blinded by premium tariffs
Do not conclude any so-called premium tariffs without a thorough examination: "The included services may exceed the actual need, and needs-based insurance cover can also be taken out more cheaply," says Böhne.
Comparisons, for example via the Stiftung Warentest, help in the search for good and cheap insurance. It can also be advantageous to seek personal advice from one of the consumer advice centres.
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