Optional Insurance Schemes
In addition to statutory insurance, it may be worth taking out optional insurance schemes.
?
?
Private Liability Insurance
Although liability insurance is not compulsory in Germany, most people living here decide to take out one, as everybody is liable for compensating any damage caused intentionally or unintentionally according to German law. The Welcome Service therefore strongly recommends being insured with a private liability insurance.
The cost of taking out liability insurance in Germany depends on several factors, such as:?
- the type of liability insurance
- the scope of cover
- the insurance provider
Private liability insurance is comparatively inexpensive, although it is the second most important form of insurance in Germany after health insurance. Overall, the regular monthly price is on average between �3 and �6, i.e. less than �100 per year. We recommend choosing personal liability insurance that covers losses up to the highest possible amount, at least �10 million.
Examples of what personal liability insurance covers:?
- You accidentally drop your friend's mobile phone and have to replace it (property damage).
- You run over a pedestrian with your bicycle (property damage, personal injury).
- You damage the wooden floor of your flat when you move in (property damage).
?
Legal Protection Insurance
Legal protection insurance provides coverage for legal costs in the event of disputes, such as tenancy issues, contract disagreements, or other legal matters. This can be especially helpful if you are unfamiliar with German laws and regulations.
?
?
Private Accident Insurance
While the statutory accident insurance typically covers accidents that occur in the workplace, private accident insurance offers additional protection, especially for leisure time. This insurance covers medical costs, rehabilitation, and other expenses resulting from accidents.
?
?
Household Contents / Home Insurance
This insurance covers damage or loss of personal belongings within your home due to risks such as fire, water damage, theft, or vandalism. It is particularly useful if you rent a flat, as it covers your furniture, electronic devices and other personal belongings.
?
?
Occupational Disability Insurance
If a serious illness leaves you unable to work long-term, financial hardship may follow, as state disability pensions are often minimal. In such cases, occupational disability insurance offers essential protection against major loss of income.
?
?
?
?