The first thing you have to do after moving to Germany is to deal with insurance. There are a wide variety of insurances available. With so many options available, you might get confused in finding the most suitable insurance for you. Some Insurances are mandatory, and few others are optional. Let’s have a glance at the insurances available in Germany and how they are useful for you.
Health Insurance
You must have health insurance if you plan to stay in Germany for more than three months. You can opt for public (statutory health insurance or GVK) or private health insurance (private health insurance or PKV). People with income lower than 64,350 Euros (2021) can only take public health insurance. You can find a detailed comparison between the two on our public vs private insurance page.
Car Insurance
This is another mandatory insurance for people with a car. There are two types of car insurance: Vollkasko and Teilkasko.
Vollkasko is comprehensive insurance that offers the most coverage. It covers the damage to your car and other cars.
Teilkasko or partial car insurance covers more things. It covers theft, fires and damage from natural catastrophes (earthquakes, floods, hail, etc). It also covers damage to your vehicle windows.
If your car needs a fix, you will have to pay for it unless it is someone else’s fault. In that case, their insurance will pay for your damage.
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Liability Insurance
This is optional yet recommended insurance. It protects you from any damage caused because of you on another person’s body or property. Without liability insurance, these damages can cost you thousands of euros or even more. That’s why more than 70% of Germans have this insurance.
Private liability insurance does not cover your work, so freelancers should get professional liability insurance to insure themselves for any professional mistake. If you are an employee, you won’t need this insurance.
Liability insurance is generally cheap (around €5/month). You can use this link to compare liability insurance options. For English speaking service providers, you can choose Coya and GetSafe.
Accident Insurance
In case of an accident, liability insurance covers the damage caused to another person. But, to get yourself insured from any such accident, you need accident insurance. All employees get insured with generous accident insurance. It covers you from any accident that happens during the commute to the workplace or at the workplace.
Accident insurance will pay for your treatment and pay you your lost earnings. It also provides financial support in case of permanent disability and any cosmetic surgeries required after the accident.
Life Insurance
This insurance pays money to the family in case of your death. It is useful for people that are dependent on you. The insurance amount depends on the amount you paid to insure and is generally cheaper for a young person. If you have an existing term life insurance from your homeland, you should notify them that you are residing in Germany. You must also confirm with them regarding the validity of insurance in a foreign land.
Homeowners Insurance.
This insurance is useful for you only if you own a property in Germany. For example, this insurance will pay for you when the roof of your house gets damaged in a storm. Please note that it protects only your house or apartment and not the content of your home. You do not need this insurance if you live in a rented house.
Home Contents Insurance
This is another optional yet recommended insurance. Home Contents Insurance covers the content of your house. It protects the furniture and all the other movable things in your house like the computer and bicycle. You can also have individual content insured if you do not want everything covered. The cost of this insurance depends on the size of your apartment and the locality. Coya and GetSafe are the two providers that offer their services in the English language and are not heavy on your pocket.
Legal Insurance.
This is another insurance that you must consider. This insurance helps you by providing support and advice from lawyers and reimburse your lawyer and court costs. A legal dispute can fall into one of these categories: private, professional, house-related (mietrechtschutz) or traffic. Generally, a good insurance company covers all these categories.
It would also include coverage of your children and covers legal fees worldwide. You can also get your bicycle and glass insured along with this. Disputes with landlords or neighbours fall under this insurance. Please note, this insurance does not cover the cost of damages if you lose a case. Liability insurance takes care of such damages.
Dog liability Insurance
All the dogs must have insurance in Berlin, Brandenburg, Lower Saxony, Hamburg and Thuringia. It pays for the damages caused by your dog. It is also compulsory for certain dangerous breeds of dogs across Germany. Coya and GetSafe are English speaking insurance companies that offer dog liability insurance.
Annual Travel Insurance
This is a comprehensive insurance cover for all your private trips without a need to buy a policy for each journey. It generally includes travel cancellation insurance, trip curtailment insurance, travel health insurance and travel luggage insurance. There is no limit on the frequency of your global travel (excluding known war zones). Depending on the tariff, it can be within 31 to 42 days. If you plan to take a trip for more days, you must speak with the insurance company in advance.
Bicycle Insurance
Bicycle theft in Germany is quite prevalent, and police can solve only four per cent of those crimes. It means if your bike gets stolen, there is a high probability that you won’t get it back. Therefore, You must consider buying bicycle insurance, if you use it as a regular means of transportation or if the cost of a bicycle is more than € 150. This insurance is generally available for less than € 5 per month.
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