Whether at work or in your free time, unforeseen accidents can happen quickly. However, there lots of ways to protect yourself against the consequences.
Helpful hint: Here you can find out about the social security insurance in Germany that insures employees against the main risks such as illness, industrial accidents, unemployment and old age.
Public liability insurance is the most common voluntary insurance in Germany. It covers the costs of accidental damage caused by you or a family member.
Helpful hint: You can insure your spouse and children under your policy. Public liability insurance policies can be concluded for less than EUR 100 per year.
Statutory accident insurance covers you in the event of accidents at work or on the way to work.
But most accidents happen during leisure time. Private personal accident insurance is a suitable way of covering this risk. The most important benefit of private personal accident insurance is that it covers you in the case that you suffer a disability as a result of an accident and can no longer work as before. In this case the insurance will cover the cost of an invalidity pension.
You can also agree on benefits to return you to health that are not covered by the statutory health insurers.
An additional old-age pension on top of statutory pension insurance makes sense and is necessary in order to maintain the lifestyle you have achieved through your professional life after you have retired. Since 2002, state subsidies are in place for these additional pensions.
There are different providers for all private insurance policies. An internet comparison is worthwhile, as insurers vary in terms of quality, cost and benefits.
You can find further information on insurance on the Make it in Germany welcome portal.