Almost 80% of Germans have home contents insurance, but what many do not know is that they can save up to almost 1,000 euros per year by switching to another provider. The Stiftung Warentest found this out on the basis of three model cases for which it examined 54 tariffs for household insurance.
The costs for a home insurance are influenced by the living situation and the place of residence. In a model case, a 35 m² apartment in Frankfurt / Main belonging to a 20-year-old, the price difference for a policy with an insured sum of around 23,000 euros is up to 156 euros per year. In the second model case, too, a young family with a 120 m² semi-detached house (sum insured 78,000 euros), savings of well over 300 euros per year were shown. Seniors who have very valuable household effects can save the most (model case: 60-year-old married couple in 95 m² condominium, sum insured: 133,000 euros). Here the testers determined price differences of almost 1,000 euros per year.
If you take out household contents insurance, you should ensure that the sum insured corresponds to the actual value of the household goods, because in the event of damage, the insurance company pays at most the agreed amount Total. Stiftung Warentest therefore recommends checking your own policy regularly to see whether the sum insured is still sufficient. In addition, one should prefer tariffs with a waiver of underinsurance, in which the insurer cannot reduce the amount of compensation in the event of damage.
As a rule, household insurance has a certain period of notice which must be observed when changing. With some providers, the policy only runs for a certain contract period from the outset. In the event of damage, consumers also have a general right of termination, which they can make use of – regardless of whether the insurance takes over the damage or not.