Risk insurance: premium amount, payout sum and benefits

Risk insurance – Have you bought your own home and opted for favourable financing? Even if risk insurance is not required by the bank based on your credit rating and other collateral, you should provide coverage with your family in mind. To protect your family from financial risks and the loss of the property, you can take out insurance in a number of ways. One of the best known and most suitable risk insurances is the term life insurance.

Risk hedging – possibilities, advantages, avoiding mistakes

At the time of a real estate financing, few future owners think about their own death. The threat of unemployment is also not necessarily a topic you deal with at the time of buying a property. However, life does not always go according to plan and no one is immune to strokes of fate. To protect your loved ones financially, you should opt for term life insurance. High benefits and a straightforward payout in the event of an insured event are the hallmarks of term insurance and should be considered as soon as you finance a property or otherwise incur a large liability affecting your family. With some real estate loans, the bank insists on residual debt insurance. This is usually unnecessarily expensive and can be avoided if you provide for yourself and demonstrate security with term life insurance.

In order to find a suitable offer, you should check not only the premium amount and payout sum in the event of an insured event, but also which general benefits a term insurance policy includes. There is a suitable model for every requirement and need, in which you can insure yourself cheaply and protect your family from the loss of their own four walls.

Further information on the subject of insurance

In the insurance industry, a distinction is made between compulsory, necessary and recommended insurance. Health insurance, like long-term care insurance, is one of the contracts that every German citizen is required to take out by law. If you finance a house, further insurances can be added, by which the bank and you are secured. Learn more about insurance.

Commercial insurance

Every company should have the best possible cover for its inventory and damage to third parties. As an entrepreneur, you bear numerous risks, so you should not do without commercial insurance under any circumstances. If your employees cause damage to customers or contractual partners, this can lead to high claims for damages. Commercial insurance covers a variety of risks and can therefore be optimally tailored to your needs.

Liability insurance

If you cause damage to a third party through no fault of your own, you are liable and can be “asked to pay” by the injured party. This applies to damage you cause to private individuals as well as to businesses. While you can still relatively easily replace a torn vase or a damaged window, it becomes complicated in the case of property damage or personal injury caused by accident. Here, you can quickly face unmanageable costs and, without liability insurance, you can expect to pay for a lifetime of damages caused by you.

  • All information on liability insurance.

Legal expenses insurance

There is a difference between being right and getting right. Even if you feel you are in the right and are sure that the law is on your side, a lawsuit without legal assistance can have the opposite effect and, on top of that, lead to high costs for you. With legal expenses insurance, you protect yourself from financial constraints and can always seek legal advice and be represented by a lawyer before ordinary courts. If you are financially secured in the event of a dispute, you do not have to “give in” for cost reasons and have the opportunity to demand your rights.

  • Learn all about legal expenses insurance.

Homeowners Insurance

As a property owner, you should be insured against all eventualities. Homeowners insurance is one of the basic coverages that pays out for damage caused by environmental factors, for example. If your roof is covered by a storm or your house is damaged by fire, this can lead to loss of livelihood and your financial ruin without a powerful buildings insurance policy. If a tree falls on your property and hits your home, the damage and its subsequent costs are often immense. With homeowners insurance, you get the benefit of being covered for all eventualities and protected from the material damage.

Home contents insurance

Burglary, theft and vandalism or fire damage can damage you from one moment to the next in such a way that you cannot afford the costs for the new acquisition of household goods “just like that”. With a household insurance you prevent for the emergency and exclude that destroyed or stolen furnishings lead to financial ruin. It is not for nothing that household insurance is one of the most important private insurances that you should take out as an owner and tenant alike.

Automobile insurance

Every car owner must take out motor liability insurance. However, the legally required motor vehicle insurance is only a cover if you cause damage to third parties in road traffic. A defect in your own vehicle or a cost coverage, if your car is stolen, are not covered by the liability. In this case, you should opt for fully or partially comprehensive insurance and exclude the possibility of paying high costs yourself, which could lead to financial bottlenecks. Since the premiums and benefits differ between the individual providers of a car insurance, you should compare comprehensively and choose the most favorable conditions for you.