Rising premiums – this is how homeowners can save

Frankfurt Homeowners must be prepared for the fact that homeowners insurance will soon become even more expensive. After the contributions have already gone up significantly this year, experts are also expecting significant price increases for 2024.

For consumers, this leads to an increased need for advice, observes Elke Weidenbach from the NRW consumer advice center. “But insurance cover is usually indispensable,” emphasizes the insurance expert. Real estate is often the largest purchase in many people’s lives and is therefore particularly worthy of protection. These solutions can be used to mitigate jumps in contributions:

1) Change provider

An obvious solution to avoid high premiums is to switch to a cheaper provider. But that’s not easy at the moment, as almost all residential building insurers are increasing their premiums, explains Weidenbach. “Nevertheless, there are significant price differences between the insurers, which makes it worthwhile to compare providers,” emphasizes the consumer advocate.