From Julien Backhaus – Wealth Protection Up-To-Date (Germany) –
Do you know what they are really insured and why not?
Have you ever been rescued, and had to settle a damage afterwards, even though you were insured? When did they last check their insurance policies? The German has five insurance companies on average. Including numerous unnecessary policies, which cost a lot of money and little protection.
My opinion: The insurance industry plays with the fear: It gives you an illusion and pulls the money out of your pocket. This industry lives on!
Insurance companies are inventive when it comes to securing their own survival: to take as much money from as many people as possible – a high spread minimizes the risk, we all know. Every few years new products are launched, which are often only one: long-term capital-takers of private customers.
Hear therefore not in the friendly insurance agent next door or from the bank, which is important, but ask yourself, dear readers: What risks threaten the existence of me or my family? This gives you the best guide, which insurances are necessary and which are not.
No matter what you tell the businessmen: what you need in any case is a private liability insurance. And that is basically enough …
This insurance does not only replace the possession of other people you have accidentally damaged. It also occurs if someone has suffered serious health or financial damage through your unintentional fault. If you inadvertently attack someone or go to the wheel, and the result is a serious injury, which may even lead to disability, the liability. Otherwise you pay.
Whenever there is a real risk for you or others that can not be caught under normal circumstances, it is sensible to secure this risk. And it is not sensible to conclude your own insurance for every eventuality. For example, if your children are still in education, or if your partner is not working or not working, and if your assets are not sufficient to secure them self-sufficiency, then you should take out a risk insurance. She pays money to the survivors in death.
Only if your own assets are in a property, in your own home or in an investment property, you should conclude a building insurance.
However, make sure that it is combined with an elementary damage insurance. It also covers damage caused by snow pressure, avalanches, floods and landslides from – expensive undertaking that drove even some otherwise well-insured homeowners to ruin.