I’m sure you’ve heard this joke before, “Germans have insurance for everything”. If you’ve never heard of it before, I promise I’m not making it up, there are plenty of others who have already vouched for me. While it is quite the statement, it is actually (almost) true.
In case you’re interested in obtaining some wildly unheard of types of insurance in Germany, this list will either make you giggle or intrigue you to consider some new insurances while you’re living here.
Disability insurance allows you to still receive an income in the event of disability. This is not a mandatory insurance (it is also not often included in your health insurance plans), so you can choose to add this insurance onto your plan as a ‘supplemental insurance’.
Car insurance allows you and your vehicle are protected in the event of an injury or car accident. Before you even register your car in Germany, you are required to provide proof of third party liability coverage. There are a number of different packages you can choose from when purchasing car insurance. To compare car insurance prices, I would recommend using a Vergleichsportal like Check24.
Health insurance ensures that whatever illness you might get, you’ll receive coverage for the medical bills and hospital visits. Every resident in Germany (foreign or not) is required by law to have health insurance. Some people will have the choice between public or private (you can check out your options on our blog post comparing the two options). Again, you can use a Vergleichsportal (comparison website) like Check24 to find the best/cheapest options for you.
Life insurance ensures that in the event of death, an insurance company will pay the appropriate sum of money to the pre-selected beneficiary. There are a number of different places where you can buy life insurance, including a number of banks as well. Allianz is a popular choice in Germany.
Homeowners insurance is to ensure your home and contents in the home are covered in the event of a fire or other possible ways of damage. A good thing to note here is that landlords are responsible for insurances covering water and fire damage (not the tenants).
Personal Liability Insurance
Personal liability insurance is a popular insurance to have in Germany. This insurance will cover you in the event of accidental damage to a third party and/or their property. That means that if you break or damage someone else’s things, your personal liability insurance will cover this (like spilling your soda on someone’s laptop).
Renter’s Liability Insurance
Renter’s liability insurance will cover you for any damages in your rental apartment. This can include water damage, wall damage and basic repairs. So, if you’re a tenant, you may not need homeowners insurance, but renter’s liability insurance is always a good thing to have.
Insuring you in the event of legal action. This one is actually highly recommended for international residents as you may encounter problems while you’re here (more specifically with your landlord). The types of fees that a legal insurance may cover include hiring an attorney, court fees, cost of witnesses, etc.
Unemployment insurance will cover you in the event of being laid off, fired or when unexpected problems happen in the workforce. This type of insurance is actually mandatory for everyone who is hired as an employee in Germany. Typically, this insurance will cost you around 3% of your gross monthly income. Your employer will often pay half of the expenses.
Travel insurance is for when you miss a flight or run into health troubles abroad. This one is always a great idea and is quite standard around the world. I wouldn’t recommend you go anywhere without travel insurance unless you are 100% sure that your health insurance back home will cover you in case of illness abroad.
For other more particular cases, there is also pet insurance (in case your animal gets into a brawl and needs someone to bail them out) and bike insurance (this is actually very practical in cities like Dusseldorf where people’s bikes get stolen every day).
While we may think that some of these insurances in Germany are unnecessary, others require an actual insurance advisor to organize all their insurances. Better safe than sorry, right?
Though you should not take these lightly. There are some insurances that you should purchase immediately including some of the most important: car insurance, health insurance, homeowners insurance, disability insurance and life insurance.
Do you have more questions about living #LifeInDüsseldorf? Feel free to send us an email with your question at email@example.com. If you have tips you’d like to share with others, we’re also accepting guest posts which include the author’s name, bio and photo.