This article provides an overview of common types of insurance in Germany and their importance.
Liability Insurance
- Description: Liability insurance (Haftpflichtversicherung) covers financial damages caused to other people.
Examples:
- Scratching someone’s car with a shopping cart.
- Child breaking something expensive in a store.
- Damage caused by furniture to rented apartment floor.
- Injury due to slipping in your driveway.
- Importance: Protects against significant financial liabilities.
- Statistics: 83% of Germans have liability insurance.
- Cost: Approximately 5€ per month.
- Providers: Feather and Getsafe offer English-speaking services.
Professional Liability Insurance
- Description: Covers professional mistakes for self-employed individuals like doctors, architects, and lawyers.
- Requirement: Necessary for certain professions.
- Employees: Covered by employer’s insurance.
- Cost: Varied based on profession and coverage.
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Dog Liability Insurance
- Description: Covers damages caused by dogs.
- Requirement: Mandatory in certain German states.
- Cost: Around 5€ per month.
- Coverage: Feather and Getsafe offer English support.
Home Contents Insurance
- Description: Insures household items against damage or theft.
- Examples:
- Fire damage.
- Water leak destruction.
- Theft.
- Importance: Ensures financial security in case of loss.
- Statistics: 76% of Germans have it.
- Cost: Approximately 5€ per month.
Health Insurance
- Description: Mandatory for all German residents, covers healthcare expenses.
- Cost: Percentage of income, with employer contribution.
- Additional: Nursing care insurance included.
- Choosing: Best done through independent brokers.
Pet Health Insurance
- Description: Covers veterinary bills for pets.
- Coverage: Depends on age, breed, and sex of the pet.
- Cost: Around 20€ per month.
- Providers: Getsafe and Feather offer English support.
Car Insurance
- Description: Mandatory for all vehicles in Germany.
- Types:
- Vollkasko: Covers all damages.
- Teilkasko: Covers damages to others, theft, and vandalism.
- Comparison: Use Verivox or Tarifcheck for comparison.
- English Support: Getsafe provides English services.
Disability Insurance
- Description: Provides financial support if unable to work.
- Importance: Ensures financial stability in case of disability.
- Providers: Feather and Getsafe offer English services.
Life Insurance
- Description: Provides financial support to dependents upon death.
- Importance: Ensures financial security for dependents.
- Cost: Varies with age.
- Provider: Feather offers English services.
Legal Insurance
- Description: Provides access to legal assistance.
- Types:
- Private: For individuals.
- Professional: For businesses.
- Importance: Provides legal support in various matters.
- Coverage: Includes lawyer consultation, letters, and court representation.
- Cost: Around 15€ per month for private insurance.
- Providers: Feather and Getsafe offer English services.
Sources:
- dieversicherer.de
- ruv.de
- gdv.de
- verbraucherzentrale.de
- handelsblatt.com
