Property insurance
“Sachversicherungen” is a German term that translates to “property insurance” in English. Property insurance encompass various types of insurance policies that protect individuals, businesses, or organizations against financial losses related to physical property or assets. These insurance policies typically cover damage, loss, or theft of tangible assets. Common types of property insurance include:
- Haftpflichtversicherung (Liability Insurance): Covers legal liabilities and financial consequences resulting from personal injury or property damage caused to third parties. It can apply to individuals, professionals, or organizations.
- Hausratversicherung (Home Contents Insurance): Covers personal belongings and household contents against damage or loss due to events like fire, theft, vandalism, or natural disasters.
- Rechtsschutzversicherung (Legal Expenses Insurance): Provides coverage for legal costs and expenses incurred in various legal situations, including disputes, lawsuits, and legal proceedings.
- Unfallversicherung (Accident Insurance): Provides coverage for injuries and accidents that result in disability, medical expenses, or loss of income. It offers financial protection in case of accidents or injuries that occur outside of work.
- Tierhalterhaftpflichtversicherung (Pet Liability Insurance): Covers pet owners against liability claims for damage or injuries caused by their pets.
- Gebäudeversicherung (Property Insurance): Protects physical structures, such as homes or commercial buildings, from damage caused by events like fires, storms, or flooding.
Liability insurance
In Germany, when somebody intentionally or accidentally causes harm to you or your possesions, they are held responsible for all resulting costs. Unfortunately, these costs are often financially challenging for private individuals to bear. To ensure you do not find yourself in a financial crisis in such a situation, you should consider taking out personal liability insurance. One of the biggest reasons for a liability insurance is that when you are harmed by a person without liability insurance, (which 30% of the citizens in Germany do not have) your own insurance will cover for them.
Home contents insurance
As a tenant of an apartment or as a homeowner, you are likely aware of common sources of risk that can threaten your residence and your belongings. These sources include fire and water damage, as well as hail and burglary. When a damage event occurs, the amount of damage can quickly become significant. In this situation, a home insurance policy can be of assistance. It provides coverage up to a specified insurance value to compensate for the damages, and depending on the policy, it may also offer additional benefits such as free accommodation in a hotel if the residence becomes temporarily uninhabitable, or refund a cancellation of a trip if you are abroad and something happens to your residence.
Legal expenses
Im Laufe des Lebens kann es bei Ihnen aus verschiedenen Gründen zu einem Rechtsstreit kommen. Dieser kann zu einer ernsthaften finanziellen Belastung werden, insbesondere, wenn die Prozesskosten das verfügbare Budget übersteigen. Um sich im Fall der Fälle auf einen Anwalt Ihres Vertrauens verlassen zu können, ohne die Kosten eines Rechtsstreites fürchten zu müssen, bietet die Rechtsschutzversicherung eine ideale Absicherung. Zusätzliche Leistungen können ebenfalls versichert sein, wie beispielsweise die kostenfreie Rechtsberatung oder die Kautionsübernahme.
Accident insurance
Unfälle sind im Laufe des Lebens unvermeidlich. In den meisten Fällen sind die Konsequenzen einfach, in manchen Fällen können die Konsequenzen aber eine sehr große Tragweite annehmen. Beispielsweise, wenn Sie im Zuge eines Unfalles einen Teil Ihres Körpers verlieren, den Sie für die Ausübung Ihrer Arbeit zwingend benötigen. Eine Unfallversicherung nimmt einer solchen Situation die größte Brisanz, indem Sie entweder eine Einmalzahlung erhalten, mit welcher Sie sich an Ihre neue Situation anpassen können, oder indem Sie eine Rente erhalten, mit der Sie sich über Ihre zukünftige finanzielle Situation weniger Sorgen machen müssen.
