Comprehensive Guide to Insurances in Germany 2024

🏠 Insurances in Germany “Germans have insurance for everything” – that might sound superficial but it is true.

Table of Contents

  1. Liability Insurance
  2. Household Insurance
  3. Life Insurance
  4. Accident Insurance
  1. Repatriation Insurance
  2. Travel Insurance
  3. Legal Assistance Insurance
  4. How does insurance work in Germany?

Liability Insurance

What is liability insurance in Germany?

  • Known as Haftpflichtversicherung.
  • Covers damages caused to persons or objects.
  • Compulsory for drivers.
  • Advised for professionals like carers, tutors, and au pairs.
  • Renters can also be held accountable for damages.

Household Insurance

  • Known as Hausratversicherung.
  • Covers damage to home contents or structure.
  • Guards against theft, floods, storms, and fires.
  • Helps residents bear losses of high-value items.

Insurance Companies

  • Bundle theft and damage policies.
  • Popular among tenants.
  • Often advised by landlords.

Life Insurance

What types of life insurance are there in Germany?

  • Known as Risikolebensversicherung.
  • Protects against financial consequences of premature death.
  • Varied options including fixed-term policies.
  • Can be indexed to debts like mortgages.

Accident Insurance

  • Known as Unfallversicherung.
  • Covers costs of unforeseen events.
  • State-covered for employees.
  • Residents engaging in risky activities may opt for additional coverage.

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Did you know?

  • Specific body parts can be insured.
  • Beneficial for certain occupations.

Repatriation Insurance

  • Known as Rückführungsversicherung.
  • Covers repatriation in case of unexpected demise abroad.
  • Essential for international students and workers.
  • Often included in travel insurance.

Travel Insurance

Learn more about travel insurance

  • Known as Reiseversicherung.
  • Mandatory for visa applicants without health insurance.
  • Provides coverage across Schengen region.
  • Useful for regular travel between home countries and Germany.

Legal Assistance Insurance

  • Known as Rechtsschutzversicherung.
  • Covers legal costs.
  • Policies tailored for specific professions and needs.
  • Helps reduce high legal expenses.

Legal Assistance Insurance Policies

  • Offered for various professions and circumstances.
  • Options for medical practitioners, drivers, self-employed, investors, etc.

How does insurance work in Germany?

  • Customers purchase policies for fixed terms.
  • Pay regular premiums.
  • Health insurance options: state-provided or private.
  • Necessary policies vary based on individual needs and circumstances.

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