In Germany, everyone must have insurance coverage. The requirements state that anyone entering Germany and stays for six months or longer or anyone that moved to Germany for work would need insurance. Because of this, it is important to look at what a German insurance company would provide since there are different types of coverage.
For starters, a German insurance company would offer third-party private liability insurance. Of all insurance for this country, this is the least expensive. However, this type of insurance coverage is also considered the most vital. With this, you or any member of your family under the policy would have protection if an act were committed deemed by a German court to be negligent.
The great thing about this is that for damages, there is no cap regarding the amount of damaged awarded to the other party. Acts in this case would be those committed innocently but carelessly. In fact, this policy sold by a German insurance company would include any negligence or misdeed done to a horse or dog. When talking about “ordinary negligence”, this would relate to a person’s property being damaged.
Another type of insurance provided by a German insurance company is for the homeowner, covering the home but also the contents of the home. With this, the coverage would protect you from loss or damage of your personal possessions, which would be anything inside the property, even built-in kitchen units. However, if there were fittings or fixtures attached to the home, you would need a separate policy for coverage or in the case of renting, they would be the responsibility of the landlord.
A German insurance company would sell a policy that includes coverage for fire, storm damage, burglary, water damage, and vandalism. Now, if a robbery involved something on the outside, then only 10% to 15% of the amount insured would be paid. Then for damage caused by fire or water, or in the case of theft and you planned to be out of town for 60 days or more, you would be required to let the German insurance company know.
Next is legal assistance insurance, which could be purchased from any list of insurance companies in Germany. For this, if you were to have an argument or misunderstanding with an employer, neighbor, local merchant, tax authority, landlord, or someone associated with a car accident you were in, then this coverage would help. Typically, you would have protection needed and ultimately, save a tremendous amount of money on legal bills.
When looking at a list of insurance companies in Germany, they would also offer Accidental Death and Disablement Insurance, which covers 100% of expenses in the case of accidental death, and five to six times the annual income of the individual who becomes disabled. Term Life Insurance is also available, which provides a financial payout to the beneficiary of the person with the policy when he or she passes away. You can even find annual travel insurance, which is great when taking a holiday or traveling on business to another country.