In this article, the recommended different types of insurances in Germany are presented and briefly explained. It is worth to mention that price comparison portals (see the links below) are recommended for comparing the prices between the different companies offering these insurances:
Health Insurance (Krankenversicherung)
The health insurance is very significant in Germany. It is compulsory for visa extension and for working purposes. There are two types of health insurance: The public health insurance and the private health insurance. Regarding the expenses of public health insurances for students, they must be completely covered by the students. However, for workers half of the expenses are covered by the employer and the other half is paid by the employee.
Private liability insurance (Haftpflichtversicherung)
In this insurance, any damage for the property of other people is covered. Additionally, any accidents harming other people are also covered using this insurance. for example, a bicycle accident, accidently breaking someone’s mobile screen or laptop…etc. The cost of such insurance is about 40-50 Euros per year. To include also cars insurance, another insurance is additionally needed, which is also obligatory for all the car drivers in Germany and is called (Kfz-Versicherung).
Accident insurance (Unfallversicherung)
Any accident that causes a damage in health is covered in this insurance, for example if an accident caused a severe injury in the leg and resulted in the need for a long holiday and physical therapy. It is important to differentiate between this type of insurance and the work accident insurance (Arbeitunfallversicherung). The latter covers the costs of any accident at work or on the way to work.
Household buildings insurance (Wohngebäudeversicherung)
In this insurance, the elements if the building are covered in case of any damage occurs. For example, fire, water leakage inside the walls, problems related to electricity, storms…etc. This insurance is only possible for homeowners.
Household insurance (Hausratversicherung)
Any damage in the furniture inside the apartment is covered using this insurance. For instance, the damage caused by water, fire, electricity, theft…etc.
Legal insurance (Rechtsschutzversicherung)
In this insurance, if there is any open case against the insurer, the fees for the lawyer, the court and other expenses are covered. This also includes any case that is opened from the insurer himself being covered by this insurance.
Life insurance (Risikolebensversicherung)
Using this type of the insurance, financial care of the defined people by insurer are covered after the death of the person. The price of such insurance is dependent on the several factors such as the health and age of the insurer.
Occupational disability insurance (Berufsunfähigkeit)
This insurance covers the financial needs after the permanent disability caused by an accident, where the insurer is not able to work anymore and earn money. The costs of this insurance are dependent on the age of the insurer and the nature of the job (how risky it is).
In the following, some of the insurance price comparison portals are presented:
This was a brief mention of the main additional insurance types. More information could also be read in the used references below.