Insurance, energy, finance: save 6,200 euros by changing providers
Created: 2022-12-20 10:27 am
By: Johannes Nuss
At the turn of the year, it is worth taking a look at your insurance, energy, finance, internet and mobile phone contracts.
There is a lot of savings potential.
Hanover – For consumers, inflation and the energy crisis caused by the war in Ukraine are causing prices for everyday necessities to skyrocket.
On average, inflation in Germany is currently around ten percent, but is currently rising more slowly than in the past few months.
Yes, that's just the average.
This means that in some places the rate of inflation has become even more extreme.
At the turn of the year, it's worth taking a look at your own contracts for insurance, energy, finance, internet and mobile communications.
Because there is enormous potential for savings here.
According to the comparison portal Check24, families can save around 6200 euros, with a single person it is even more than 3700 euros.
Insurance: Singles save around 2,800 euros a year by switching providers, families 4,400 euros
Hardly any insurance is as important as private liability insurance.
Nevertheless, according to Check24
, every fifth German
does not have this existential protection.
For one of the five cheapest tariffs with good services, a single person pays an average of 32 euros a year and a family 48 euros.
The savings potential compared to the most expensive provider is 73 euros or 107 euros.
If you change the tariff or the provider right away, you can save money.
This applies to finances as well as telephone, internet, mobile communications and insurance.
© Patrick Pleul/dpa/Archive
Consumers who change their car insurance can save a lot.
In the example, a single pays an average of 671 euros less per year for his Opel Astra-J 1.7 CDTI by switching to one of the five cheapest tariffs.
A married man can save an average of 529 euros a year for his Opel Vivaro/Zafira Life, which he shares with his spouse.
Insurance: Singles can save up to 563 euros a year with supplementary dental insurance
The premiums for supplementary dental insurance also vary greatly.
By changing the tariff, a 30-year-old woman with healthy teeth saves 563 euros a year.
A 45-year-old saves 640 euros.
A family can save up to 695 euros per year by switching term life insurance.
The premiums for accident insurance also vary significantly.
A family can save up to 569 euros per year by changing insurance.
Several hundred euro savings also offer tariff changes for statutory health insurance, dog liability, dog health, legal expenses, travel, household and residential building insurance.
But be careful when changing health insurance.
A number of health insurance companies will increase their additional contribution in 2023.
Energy: Family saves 1,100 euros a year by switching electricity and gas providers
Electricity is more expensive than ever this winter.
The annual savings potential when switching from the basic service to an alternative provider is on average in large German cities for a single (1,500 kWh annual consumption) 299 euros, for a family (5000 kWh) 622 euros.
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Gas prices are also at a very high level.
By switching from the basic supply to the cheapest provider, a one-person household (5,000 kWh annual consumption) currently reduces its annual gas costs by an average of 86 euros, and a family (20,000 kWh) by 454 euros.
You might also be interested in this: State subsidy for heating oil and pellets – what consumers now need to know
"The electricity and gas price brakes relieve consumers," says Steffen Suttner, Managing Director Energy at
“Consumers can only achieve maximum savings by switching to a cheaper tariff.
Depending on the region, there are currently offers that are significantly cheaper than the local basic supply.
Despite the price brakes, customers should regularly check their energy tariffs in order to optimize the costs that are not capped.”
Finances: Save hundreds of euros with overdrafts and free checking accounts and credit cards
There is also a lot of potential for saving money in the area of finance.
German banks charge an average of 9.89 percent interest for an overdraft facility.
If customers overdraw their account by EUR 3,000, overdraft interest of EUR 458 per year arises.
Instead, balance the sum with a cheap installment loan at an average interest rate of 5.36 percent, pay only 248 euros in interest - and save 210 euros in interest costs.
With direct and online banks, consumers still get free checking accounts and credit cards.
Customers avoid account management fees and annual card costs, saving more than 180 euros per year.
Telecommunications: change Internet, telephone and mobile phone providers - save more than 300 euros
Internet and telephone providers generally offer new customers significantly better conditions than existing customers.
A double flat rate of internet and telephone with at least 50 Mbit/s from the five cheapest national providers costs an average of 314 euros a year.
The most expensive comparison tariff costs 551 euros.
If you compare and change, you save 237 euros a year.
Consumers pay an average of 63 euros a year for the five cheapest providers of mobile phone tariffs with an all-network flat rate and two gigabytes of LTE data volume.
With the most expensive provider, the comparable service costs 138 euros per year.
A change saves 75 euros.