Insurance is supposed to protect us in an emergency – but many consumers pay unnecessarily. Wrong decisions or inadequate planning can cost you dearly. Here are the five most common insurance mistakes you should avoid:
- Missing Insurance:
Some types of insurance are essential, such as personal liability insurance. Those who forgo this risk financial ruin in the event of a claim. Check which insurance policies are truly necessary and take out the most important ones. - Over-insurance:
Having too many or unnecessary policies is a common mistake. Double coverage or pointless products like mobile phone insurance can put unnecessary strain on your budget. A regular insurance review helps you cancel anything superfluous. - Underinsurance:
Insufficient sums insured, for example in household contents or building insurance, mean that only a portion of the damage will be reimbursed in the event of a claim. A precise calculation of the insured value protects you from unpleasant surprises. - No need to compare insurance.
Choosing the first insurance policy you find often means paying too much. Comparing providers and rates saves money in the long run. Platforms like Risk-BOT help you quickly and easily find out where you're overpaying or which insurance policies make sense for your individual situation. - Overlooked Contract Details:
Many people sign contracts without reading the fine print. Important aspects such as deductibles, cancellation periods, or exclusions are often overlooked. Take the time to carefully review the contract – or let Risk-BOT assist you in reviewing it to avoid costly mistakes.
Conclusion: Your basic insurance coverage should be adequate
. Solid insurance coverage is essential. These policies are part of basic coverage:
- Personal liability insurance: Protects you from financial risks caused by damage you inflict on others.
- Disability insurance: Protection of your income in case of prolonged illness or accident.
- Home contents insurance: Covers damage to your property caused by fire, tap water, burglary or storm.
- Health insurance: Public or private – the basis for your healthcare.
- Term life insurance (for families): If you want to financially protect your family members.
With Risk-BOT, you can easily and independently review your insurance coverage. Find out where you can save money and optimize your policies – completely without brokers or agents. This way, you avoid unnecessary costs and are optimally protected.