Whether household, pension or occupational disability insurance: Once the policy has been completed, the documents often dust in the rearmost corner of the cabinet and are only scratched out again in an emergency. Why you should regularly put your insurance policies to the test and what you have to keep in mind, explains CostBend.
Once the insurance contract is sealed, many people no longer care about their policy. However, there are good reasons to take a look at the insurance folder at least once a year: If your own life situation changes, protection often needs to be adjusted. In other cases it is important to have the contract modalities changed – for example when moving. “A regular check ensures that you are well protected in case of emergency and also saves time and often money,” says Silke Barth from CostBend. The most important tips:
Private liability insurance
Who needs it: The private liability insurance is a must for everyone. Because everyone is liable for damages caused to third parties – in the extreme case with his entire assets. The insurance occurs if necessary and protects against financial ruin.
Tip: Couples who contract or married can save money by pooling their policies. In the family tariff partners and children are automatically insured – provided they live in a household.
Term life insurance
Who needs them: If you start a family, announce offspring, build your own business or invest in your own house or apartment, you should definitely take out a risk life insurance. It secures the survivors in the event of death financially.
Tip: If you already have a risk life insurance policy, you should adjust the sum insured if the personal situation changes. On this occasion, it is also advisable to check who should receive the benefit in the event of death.
Who needs it: Statistically, one in five in Germany can not do their job until the regular retirement. Experts therefore advise to take out occupational disability insurance directly after starting work – the younger the insured person, the better the annual contribution. She jumps in, if the insured can no longer work in the previous profession.
Tip: The amount of the occupational disability pension should be adapted to the current life situation, for example after a salary increase, the purchase of a property or a marriage.
Who needs it: A motor vehicle liability insurance is legally obligatory for motorists and comes up for damages, which one inflicts on others with his vehicle. Casco insurance (full or partial) is voluntary. You stand for damage to your own vehicle.
Important: If the place of residence changes, the number of kilometers traveled per year or the previous number of motor vehicle users, you are obliged to inform the insurer. If you leave less kilometers per year with the vehicle, the insurance contribution may decrease. If the 18-year-old daughter or 18-year-old son also drives a car, he will climb.
Tip: If your own motor vehicle insurer increases the contributions (upgrades in the event of a claim do not apply here) or if you purchase a new car, insured persons can make use of their special right of termination and switch to another insurance company. Otherwise, a change of motor insurance is usually possible at the beginning of the year, if the termination of the insurance contract has been received in good time by 30 November at the previous insurer.
Who needs it: Damage to household effects, for example, by burglary, fire or tap water can be very expensive. Every household should therefore have a household insurance. It covers damage to the new leather sofa as well as the expensive stereo system.
Tip: Is the sum insured still sufficient? Over the years, most of the household goods also grow. If two households are merged, savings can be made by making two contracts one. If a move is pending, the policyholder should inform the insurer as soon as possible of his new address – otherwise the protection is at risk.
Extra tip: At CostBend it’s particularly easy to keep an eye on your insurance business: In the personal online area myCosmosDirekt, customers can request offers, conclude policies and view and manage the contract details at any time – for example, change their address or bank details.