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Legal protection insurance: what can be insured and what not?

What can you insure, what can't

Legal protection insurance: what can be insured and what not?

Before you get a Take out legal protection insurance, you should check carefully what is insured at all. As a rule, the following areas are covered by private and traffic legal protection insurance:

What can you insure, what can't
    • Claims as a victim or victim in the sense of compensation law
    • Disputes with insurance companies, health insurance companies or social insurance companies in the context of insurance law (however, now excluded by many legal expenses insurers or only insured to a limited extent)
    • Defense in case of negligence
    • Disputes with doctors
    • other contract law
    • Disputes in case of disregard of traffic regulations
    • Disputes related to purchase, rent, lease, leasing or repairs
    • Disqualification disputes
    • Disputes with the employer (often only limited)
    • Disputes in the sense of family, marriage or inheritance law (limited)

The insurers determine the scope of their services freely and thus individual insurance companies can exclude the points mentioned above. Important: Even in the case of excluded disputes, as listed below, advice on the dispute is often insurable and linked to a certain maximum limit (e.g. 300 Swiss francs per insured event). As a rule, the following legal cases are excluded or only advice is offered:

    • Defense against claims for damages (private liability insurance is responsible)
    • litigation already ongoing
    • Disputes from the self-employed
    • Legal cases in connection with the purchase or sale of securities
    • Legal cases in the context of real estate ownership, sale or purchase of real estate
    • Disputes in the context of tax and duty law
    • Legal cases relating to immigration law
    • Disputes in the context of canon law
    • Disputes through betting and gambling
    • Disputes with the insurer itself
    • Legal cases in the context of company, foundation and association law
    • customs disputes
    • Legal cases in connection with vehicles: unauthorized vehicle use, driving without a license, commercial sale and purchase of vehicles

The exact scope of the insurance provider's benefits must be checked in accordance with the insurance policy. Any additional insurance cover must be taken out individually, in some cases it is not possible at all. Any costs from litigation must then be borne by yourself.

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What should you watch out for in legal expenses insurance?

Legal expenses insurance

What should you watch out for in legal expenses insurance?

Legal protection insurance is offered by many insurance companies, however, the individual providers differ in terms of the services offered or the service exclusions. 

Legal expenses insurance

Individual benefits are often excluded, such as neighborhood law or inheritance law. Disputes that fall into these areas are not covered by legal expenses insurance. Before taking out insurance, you should therefore make sure that all desired insurance areas are included in the contract. Missing areas can often be reinsured, but this can result in a significant increase in premiums.

In addition to covering as many legal areas and types of disputes as possible, you should also pay attention to the level of benefits in individual cases. Legal advice with a free choice of lawyer can quickly become very expensive, then it is good to know that legal expenses insurance also pays the corresponding costs. It is also important whether the insurer pays for the first legal advice or for legal representation of the insured. In the latter case, the latter alone bears the costs incurred after the first consultation. In addition, possible capping of damage amounts per damage event is important. These should always be high enough to be able to really pay back the costs. Also pay attention to the minimum amount in dispute that must be reached per dispute. If the insurance sets the value rather high, minor damage is not insured.

 

Also compare whether you get cheaper with private legal protection insurance or with the family package or with a combination of different legal protection insurance (e.g. private legal protection plus traffic legal protection) or whether you only want to cover the areas of life that are most important to you.

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What does private legal protection mean?

What does private legal protection mean

What does private legal protection mean?

The private legal protection insurance is to be taken out as an individual insurance or can also be taken out as part of a family insurance. The services of the individual insurers often differ, so a closer comparison of the offers before taking out the insurance is strongly recommended, especially since the premiums also differ greatly.

What does private legal protection mean

Private legal protection insurance provides advice to private individuals or their representation in disputes. The conclusion of the insurance is not legally required, it is a voluntary insurance. The following risks are generally covered in private legal protection insurance:

    • Damages
    • Defense in disputes due to negligence, emergency and self-defense
    • Disputes related to medical treatment
    • Disputes from contracts and insurance
    • Disputes with the employer
    • Rental and lease disputes
    • Legal advice on family disputes, inheritance matters and among neighbors
    • Disputes about things

This list sounds like a complete protection against all kinds of disputes. But the reality is a little different and becomes apparent when you take a closer look or study the contractual clauses of private legal protection insurance. Many insurers rule out individual disputes, in particular disputes with the employer or with neighbors are often not regularly covered. These cases can be insured against payment of a higher premium. Certain disputes are sometimes completely excluded. In addition, a minimum amount in dispute is usually set. To put it simply: Anyone arguing with a seller about a thing has to bear the costs of the dispute themselves.

When concluding the contract, the individual insurers agree on a maximum sum as the scope of benefits, which can be, for example, 250,000 Swiss francs for a claim. The cost of legal advice is set separately and is often CHF 500 per case.

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What does traffic legal protection mean?

What does traffic legal protection mean

What does traffic legal protection mean?

The Legal expenses insurance is to be supplemented by various individual insurance policies. Traffic legal protection can be concluded, which covers the sometimes high expenses in traffic disputes. Traffic legal protection insurance applies, for example, to accidents and damage that occur in road traffic.

What does traffic legal protection mean

Anyone who is involved in an accident but is not the cause of the damage can make their claims with the help of traffic legal protection. In addition, a traffic legal protection insurance protects in the event of disputes with your own car insurance. The following costs are covered:

    • Lawyers' fees
    • Expert's costs
    • court costs
    • compensation

Important to know: Traffic legal protection is not only relevant for drivers, but can also be helpful for pedestrians or cyclists. For example, if a car hits a pedestrian while crossing the street, you can claim the damage caused by the person who caused the accident. For this, the person concerned receives support from the traffic legal protection. Long-term disputes often result in long-term health problems, which are associated with high costs. If you then do not have to worry about the financial security of the dispute, you are on the safe side and can concentrate on getting well. The lawyer who is engaged does the rest and helps to enforce your own claims.

 

Traffic legal protection can be combined with other insurance modules, with the combination with private legal protection insurance in particular being frequently chosen. But be careful: the premiums of the individual providers differ very greatly, so that a precise comparison of the offers is highly recommended. If you only take out legal expenses insurance, the usual premiums are between 65 and 150 Swiss francs a year, although these costs can be exceeded many times over in the event of a legal dispute. It's good if these are then covered by insurance.

Here you can find legal protection insurance now and compare the offers!

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What is legal protection insurance?

What is legal protection insurance

What is legal protection insurance?

Contrary to popular belief, there is one Legal expenses insurance by no means a possibility of being able to really enforce one's rights without any costs. What is correct, however, is that legal protection insurance should protect the interests of the insured. 

What is legal protection insurance

The voluntary insurance can be obtained from different providers and in different price ranges; the costs for legal fees, expert opinions and court fees are to be covered. In addition, compensation benefits are paid in a lawsuit, which benefits are paid to the opponent of the litigation. Penalty deposits are also taken in the form of an advance.

However, legal expenses insurance does not offer general protection against all legal cases, because not all can be insured. Others have limitations. The following legal cases are often excluded from insurance benefits:

    • Disputes against your own company
    • Disputes with social security
    • Work contracts on properties
    • Neighborhood disputes
    • no protection for executives

Many legal expenses insurance companies only offer appropriate protection for the above-mentioned cases at an additional cost or generally limit the coverage. Important point: The choice of lawyer is rarely free, most insurance providers provide a lawyer or set strict conditions for the selection. In addition, many labor law disputes are not covered.

If a legal dispute arises, legal protection insurance will be informed of the case first. It provides information on how to proceed, provides a lawyer or assures the assumption of costs for the appointment of a lawyer. Also important: If a family insurance policy is taken out, no legal dispute can be brought against one of the insured.

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Over-indebted over half a million people in Switzerland

overindebted in Switzerland

Loans as standard: borrowing is becoming normal in Switzerland

There is currently a new record high in terms of the indebtedness of Swiss citizens. It is striking that the debt increases from year to year and has now assumed a rate of 6.5 percent. For many Swiss people, taking out a loan and thus taking on a debt burden has become normal.

overindebted in Switzerland

Men have higher debts

Western Switzerland in particular is showing a particularly high number of over-indebtedness, because the ratios here are around 10 percent. There are also differences between the sexes: Men are over-indebted much more often than women:

    • Men between 46 and 50 years: Overindebtedness rate of 12 percent
    • Women between 46 and 50: Overindebtedness rate 8 percent
    • Women aged 40 and over: Debt ratio continues to fall
    • Men between 40 and 60: debt ratio remains consistently high

Men between the ages of 36 and 40 have the highest debt ratio in Switzerland, whereas women between 26 and 30 are most indebted. This leads to the conclusion that women are more concerned about financial security and rarely take an investment risk. However, this does not apply to women between the ages of 18 and 25, in this age group they are as likely to be in debt as men.

The credit rating suffers

Many Swiss are not aware that creditworthiness suffers from over-indebtedness. They get a negative credit report and often don't know why. The reason for this is, however, simply explained: every loan application is entered in the central register for credit information. Here you will also find information if loans have not been paid on time, if interest on arrears has accrued or if seizures and debt collection have been carried out. This is very difficult for a new loan application. By the way, bad creditworthiness not only has a negative effect on the application for a new loan, but also when applying for a credit card.

A bad credit rating is even noticeable in everyday life: For example, if you want to buy on account when shopping online, you have to go through a credit check. If this is negative, payment by invoice is no longer available.

In summary: Overindebtedness is increasing

More and more men and women in Switzerland are over-indebted, although it can be seen that it is mainly men who fall into the debt trap and find it difficult or impossible to get out of it. They are generally more willing to take risks when it comes to investments, although women are more concerned with financial security. It is also noticeable that women over the age of 40 are less and less in debt, while the corresponding rates for men remain stable.

Here you can see the offers for loan comparison, you should be interested in one. Find out more about the conditions and compare offers from different banks before you decide on an offer or commit to it.

Source: comparis.ch

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Women need loans from need, men for cars

Women need loans from need, men for cars

Loans for essential expenses or luxury purchases: do borrowers all tick the same

Women turn to the bank less often because they need a consumer loan. However, when the time comes, they usually need the loan out of necessity, for example because a divorce or death of the partner has created a financial emergency for them. Men, on the other hand, most often buy a new car from a personal loan.

Women need loans from need, men for cars

Women hold back

Women tend to be reluctant to borrow: only around a third of them apply for a loan, as evaluations have shown such applications. Most women act out of necessity and not to fulfill a specific desire to consume. Men act differently on this point and are more likely to buy consumer goods. At the same time, women are almost twice as likely to apply for credit because of financial constraints.

Open bills and arrears in particular are the reasons for borrowing by women, although it is striking that they are particularly often affected by debts at retirement age. At the same time, they have more difficulties repaying a loan than men and often apply for a loan in order to be able to repay existing debts. However, they tend to forego the purchase of pure consumer goods and everyday items.

Various reasons for borrowing

The reasons for paying bills by credit are not excessive consumption, but rather the fact that women's income is generally lower. They are more likely to work part-time and have a lower income from having a baby. In the event of divorce or death of the partner, a large part of the household income is lost, so that a financial bottleneck arises more quickly

Men, on the other hand, apply for a loan rather for luxury reasons and want to use it to finance their dream car. Men under the age of 25 in particular act in this way. In addition, they pay off investments more often via a loan and buy bitcoins or securities, for example. From a financial point of view, they are often more willing to take risks than women and are more likely to accept the high risk of losing invested money.
These differences between men and women are also striking:

    • Women are more likely to finance training through credit
    • Men borrow larger amounts
    • Men are with the Application for credit older (most often between 30 and 34 years, for women the average is between 25 and 29 years)

all in all it can be said

Men tend to treat themselves to luxury goods and new cars with borrowed money, and they also tend to invest the money from the bank in riskier investment products such as bitcoins. Women, on the other hand, use loans more often to settle outstanding bills or to redistribute debt. In addition, women are more likely to put money into their own further training, which is less common for men with a loan.

If you are also interested in a loan, you should check out the various personal loan offers with one before concluding a contract Check credit comparison. Only then can you be sure that you are taking advantage of a good offer that also meets the conditions on offer.

Source: comparis.ch

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10 tips on how to avoid over-indebtedness

10 tips on how to avoid over-indebtedness

10 tips on how to avoid over-indebtedness

Over-indebtedness is the order of the day: Around 1.3 million Swiss are now over-indebted and threatened with attachments and debt enforcement or even private bankruptcy. Protect yourself from this with the following ten tips:

10 tips on how to avoid over-indebtedness

1. Keep an eye on your budget

It can quickly happen that expenses exceed revenue. Anyone who supplements fixed monthly costs with special expenses and then takes out a loan can quickly go into debt trap. Usually it is the small expenses like membership fees or subscriptions that are forgotten and increase the expenses unexpectedly.

2. Think realistically when borrowing

If you want to take out a loan, you should consider the future rising cost of living. Never plan too tightly, but always leave a buffer for expenses that you may have to face.

3. Note the credit card limit

Do not overdraw your credit card, as the default interest is often even higher than for a overdrafted current account. Have the credit card balance cleared at the end of the month. With longer intervals, credit card holders often lose track.

4. Pay in cash

Pay in cash whenever you can. The reason: you keep a better eye on your expenses, even with large amounts. The debits from the account or credit card are not directly visible and are often an unpleasant surprise at the end of the month.

5. Save money

If you have money left in a month, don't just spend it. Make provisions for unforeseen purchases or sudden additional expenses due to defective household appliances. You can also set up a separate account and deposit a fixed amount there every month.

6. Do not use loans for short-lived goods and products

If you take out a loan, please use it to finance only long-term purchases. The goods or products acquired with it should have a longer lifespan than you need to repay the loan. Don't finance vacation trips with a loan!

7. Do not choose too long terms

The longer a loan runs, the higher the interest rate. This means that the loan will become more expensive. If you only have a few euros available for repayment in a month, you better stay away from a loan and save yourself on the desired purchase.

8. Do not choose too short a runtime.

The opposite can also happen and the term of the loan is chosen too short. Then the monthly charge is very high, there is more of a risk of late payment. High default interest and an entry in the ZEK threaten.

9. Rethink spending

Some purchases do not have to be, even if they are tempting. It is better to forego some purchases and not be at risk of overindebtedness. Maybe you can buy the dream product a little later with your own saved money?

10. Seek debt advice

Do not be afraid to go to debt counseling. This can be found in 37 locations in Switzerland and helps you to balance your budget. This is often not possible on your own.

If you want to take out a loan, you should check the offered conditions carefully. Here you can get the personal loan in Check credit comparison and find the best offer for you!

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Beware on Instagram and Facebook: how to unmask credit fraudsters

Be careful on Instagram and Facebook

Beware on Instagram and Facebook: how to unmask credit fraudsters!

Social media play an increasing role in almost all areas of life. Unfortunately also for fraudsters who use this communication channel to spread their loan offers. Facebook in particular is the focus for them and becomes the scene of criminal activities.

Be careful on Instagram and Facebook

No real profiles and false promises

Low interest rates and long terms, which means a low monthly charge: Fraudsters like to advertise their loan offers, as the Swiss coordination office for combating cybercrime (KOBIK for short) knows.

Offers of this kind should make people aware of the fact that they simply cannot be real. The perfidious thing is that the crooks use the names of well-known banks or organizations so that there is no distrust. In some cases, contacts are even hacked and incorrect comments made in order to maintain the appearance of the trust they deserve.

If a user is interested in the offer, they are requested to provide personal data and a copy of their ID. Often there is also a fee that can amount to several hundred francs. The fraudsters are happy, the cheated never see their money again.

These tips will help you identify fraudsters

Very important: As soon as fees are charged, stay away from this offer! No special processing fees may be charged in Switzerland, these are already included in the loan interest. Also pay attention to these points to identify fraudsters:

    • They offer loans via Facebook, Instagram or Twitter.
    • Friends suddenly contact you with success stories on a loan.
    • The offers sound particularly tempting.
    • Many promises are made, for example that the creditworthiness would not be checked.
    • Personal data is requested directly or a copy of the passport.

Protect yourself from such fraudulent offers and be vigilant when looking for a loan. Report fake profiles directly and contact KOBIK. If you suspect that your own Facebook account has been hacked, contact Facebook and change your password immediately. In general, use a very secure password made up of combinations of numbers and letters, special characters, upper and lower case. 

Do not use obvious data or names as a password!
Very important: Never give out personal data to strangers. Especially not on Facebook, Instagram and Co., because no reputable bank offers credit offers here. At most, the bank itself is advertised; concrete offers that are tailored to one person are not made in this way by reputable providers.

Conclusion: Do not accept credit offers via social media!

The best precaution against fraudulent credit transactions is never to use Facebook and other social media to process them. There are no serious loan offers here, because they are not processed via social networks. Pay attention to fees that you should pay and personal data requested. Both are indications of attempted fraud.

If you are interested in a loan, contact branch banks or reputable online banks. With us you can get the offers for credit comparison and be sure that you haven't shortlisted any dubious providers.

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Personal Loan: The 7 Most Common Mistakes Of Loan Seekers

Dubious loan providers

Personal Loan: The 7 Most Common Mistakes Of Loan Seekers

The following seven mistakes are most common for loan seekers:

Dubious loan providers

1. Financial self-overestimation

Your own budget is often misjudged and no buffers are calculated. The monthly credit load is then too high and it is no longer possible to pay the credit installments. Default interest threatens, which makes the loan more expensive. In addition, an entry is made in the ZEK, which can be a hindrance to future financing projects. The best individual loan amount can be found in collaboration with an independent expert and consultant.

2. Fall for lure offers

Many credit providers want to attract new customers and offer so-called window prices. These seem very interesting at first glance, but then reveal themselves as an illusion. Actual interest rates drop significantly higher than advertised. The conditions will be adjusted accordingly, especially if the business will be rather risky for the bank itself. Not in favor of the borrower! In addition, everyone should be careful when it comes to instant loans. These may not be advertised at all, and lending within a few minutes and without a credit check is not legally permitted.

3. Do not make comparisons

A loan offer often appears tempting and comparisons with other providers are avoided. A mistake that can be dear to those concerned! The house bank does not always offer the best offer, even if you have been a customer there for many years. A loan comparison should not only include the amount of interest, but also the term, the amount of the loan and any additional agreements.

4. Select the wrong loan type

The personal loan is usually the loan of choice. It has the advantage that it can be used for many different types of financing. But if you already know exactly what the money is going to be used for, you can save a lot of money. Purpose-based financing can be much cheaper than a loan that is raised without a specific purpose. When you apply, you should therefore decide on the right type of loan or specify a corresponding purpose.

5. Measure the term too short

First of all, it sounds good: the term of the loan has been chosen to be very short, so debt is no longer an issue. At least theoretically, because in practice the credit installments have to be paid reliably, otherwise there is a risk of default interest and the ZEK entry. It is better to reserve a monthly buffer so that the usual payments and any special expenses are reliably covered. Therefore: It is better to choose a longer term and to be able to pay the loan installments reliably than to bet on a short repayment period!

6. Take out unnecessary insurance

Many advisors make credit loss insurance palatable to applicants. This is always there when the loan can no longer be paid due to an unforeseen event. What is often overlooked: Many default insurance companies set waiting times that prevent a payment default from being discovered in time. It therefore makes sense to check beforehand whether such insurance makes any sense at all.

7. Do not make any written agreements

If a loan is taken out within the family or among friends, the personal conditions often mean that the agreed terms are not written down. A mistake, as it turns out in the event of a dispute. It makes a lot more sense to rely on the written formulation of the most important key data on lending and repayment, even with a personal commitment, so that possible evidence in the event of a dispute becomes easier.

Before you take out a loan, you should check out the offers in View credit comparison.

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