Comprehensive Guide to Insurance Types in Germany 2024

This article provides an overview of common types of insurance in Germany and their importance.

Liability Insurance

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  • 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.

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

G S

NCERT-NOTES Class 6 to 12.

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