How Much Does Liability Insurance Cost in Germany: Overview
Liability insurance is the second most popular insurance in Germany after health coverage. Despite its low cost, the policy will protect you against many unfortunate events and accidents. Although personal liability insurance isn’t mandatory in Germany, we definitely recommend getting one!
The liability insurance in Germany is comparatively cheap. You will be spending on average between 2 EUR to 5 EUR per month; however, payment usually happens annually. Taking out the cheapest possible rate isn’t recommended since it will involve some form of self-contribution or low coverage.
This article gives a complete overview of the price of liability insurance in Germany. Moreover, you will learn which coverage to expect and all elements which influence its price.
Cost of the liability insurance in Germany
In comparison to health insurance, liability insurance won’t make up any significant change to your budget in Germany. Nonetheless, it’s necessary insurance to have, and 100% recommended to everyone.
The liability insurance isn’t expensive; you will be spending on average between 2 EUR to 5 EUR per month; however, payment usually happens annually. I don’t advise taking out the cheapest possible rate since it will involve some form of self-contribution or low coverage.
Overall, the cost of liability insurance in Germany depends on several elements:
- The coverage
- Amount of self contribution
- Additional services one might want to be included, e.g, lost keys
The price also will vary if you are single or married; hence families will pay more for liability insurance. Singles can get a good liability tariff for up to 50 EUR per year. However, a couple with two children will spend around 70 EUR on the same package.
The liability insurance in Germany can have a coverage of 10 million EUR and up to 100 million EUR. All insurances will take care of damages made to other people, their property and belongings, and caused financial loss.
Prices of most popular liability insurance providers in Germany
1. Getsafe
Getsafe’s liability insurance starts at 2,94 EUR a month. It’s a German digital insurance company that has been around since 2015. Getsafe is a 100% digital, English-speaking insurance provider with very affordable rates.
Besides personal liability, they offer a wide range of policies, but as a student, you might only need liability coverage. Submitting a claim and getting paid is just as easy and efficient with their app.
Customers are mostly very happy with Getsafe insurance offers, you can read them here.
Getsafe highlights:
- Policy from 2,94 EUR/mo
- English-speaking app and service
- Coverage up to 50 million EUR
- Cancel anytime
- Extreme hobbies are covered, e.g., skiing, surfing, sailing
- Key loss is covered
- Pets are covered too (except dogs)
- Worldwide coverage
- Rate 4,9
Sign up here.
2. Feather
Liability insurance from Feather costs only 4,99 EUR per month. It will cover all damages you make to other people and their properties/belongings.
Feather is an English-speaking company that will assist you with any question and concern. Their policy covers up to 30 million EUR in damage costs.
Also read: Best liability insurance for students in Germany.
What is liability insurance and why do you need it?
Private liability insurance is Germany’s second most crucial insurance (after health insurance). It covers all damages you might ever make to other people and their properties. This includes something common like breaking the piece of furniture in the rented apartment.
Property damages are widespread, but so also loss of assets or injury made to some friend. For example, if one or even several people are harmed by your action, the damage claim can be millions of EUR.
According to German civil law, everyone is liable for damages they cause. As a result, you will be financially responsible if something bad happens.
Moreover, a private person is liable for all their private assets, including salary and house. If a guilty party doesn’t possess enough, it will be passed to the parents.
The amount and duration of payments aren’t limited; therefore, someone might end up paying such debt for a lifetime.
Therefore, private liability insurance is one of the essential insurances. It saves you from financial ruin in the worst case and also takes away a lot of stress.
For all these reasons, you need a personal liability insurance in Germany. In fact, I signed for one as soon as I moved there. Moreover, if you are renting a place in Germany, some landlords will require you to have liability protection.
Some typical examples of when good liability insurance can save you:
- Accidentally spilled a cup of coffee over your fellow student’s new laptop. The insurance company will compensate for all costs beforehand.
- Accidentally run into a cyclist while crossing the road, and the biker gets injured in the process. The insurance provider will take care of the treatment costs of the cyclist.
Moreover, to protect your house or apartment in Germany, you should sign up for home insurance; it costs just 2 EUR per month and saves you thousands.
What is covered?
Another question that comes to your mind is what actually covered by this fantastic insurance? Liability insurance is third-party insurance, meaning it covers your liability to others when you cause damage to people or objects.
- Personal injury/damages to persons
- Property damages/damages to objects
All harm to properties caused by the insurance holder, including issues with rented rooms, apartments, houses, and their amenities. Some insurances even include short-term rental properties like hotels, Airbnb, hostels, etc.
- Financial damages/damages to wealth
If some of your actions will result in financial loss to others, it will be covered by liability insurance. For example, a bicycle accident that you caused. As a result, the cyclist has injured himself and couldn’t work the following days.
The liability insurance compensates the amount of the salary he loses when not working.
Exceptions
Some insurances might or might not cover damage to rental property, damage due to data exchange and internet use, loss of keys, or your stay abroad. Hence, make sure you carefully read all services and terms of the policy before signing up.
What is not covered by liability insurance?
Following damages aren’t be covered by liability insurance:
- Physical or material damages the insurance holder is suffering
- Damage to rented, leased, borrowed items
- Damages related to your job, workplace, volunteer work, or company
- Damage caused intentionally
- Damage caused while helping a friend
- Damage that you suffer
- Damage caused by the use of power, air, or water vehicle
- Your fines and penalties
- The cost of restoring or replacing damaged items
- Compensation for pain or in case of permanent damage – lifetime pension
- Defend against unjustified claims
If you want to protect yourself against sudden accidents, sign for accident insurance.
Moreover, in order to protect all your assets, you should sign for legal insurance. It will secure you against all claims, including claims at the workplace, personal life, or home. Which costs will legal insurance cover?
- Costs for court, lawyers, assessors, and mediation
An example when you need legal insurance: sue your employer when he failed to follow terms in your contract. The best legal coverage can be found at Feather; they provide exclusive English-speaking support.
Best Liability Insurance in Germany
Below you can see leading liability insurance providers for expats with affordable prices.
1. Getsafe
Getsafe is a German digital insurance company based in Germany and the UK. They have been around since 2015. With Getsafe you can manage all your insurance, file claims, or change the coverage just in one app.
Getsafe is a 100% digital, English-speaking provider with the highest customer reviews among other insurance apps. Read them here. Besides personal liability, they offer a wide range of policies, from insurance for cars to pets. Getsafe liability coverage starts at 2,94 EUR a month.
Submitting a claim and getting paid is just as easy and efficient with an app.
Getsafe highlights:
- Policy from 2,94 EUR/mo
- English-speaking app and service
- Coverage up to 50 million EUR
- Cancel anytime
- Extreme hobbies are covered, e.g., skiing, surfing, sailing
- Key loss is covered
- Pets are covered too (except dogs)
- Worldwide coverage
- Rate 4,9
Sign up here.
2. Feather
Liability insurance from Feather costs 4,99 EUR per month. It will cover all damages you make to other people and their properties/belongings.
Feather is an English-speaking company that will assist you with any question and concern. Their policy covers up to 30 million EUR in damage costs. Feather will take care of all property damages, personal injuries, and asset losses. Additionally, this liability insurance will reimburse your lost keys (including your work keys).
3. AXA
AXAÂ offers liability insurance from as little as 20 EUR per year or about 1,7 EUR per month. On their website, you can report the damage immediately so they can support you on time.
Overall, AXA offers reasonable insurance solutions for any occasion in Germany. You will get solid coverage, great customer support, and a very user-friendly website for a small price.
Their liability insurance is divided into S, M, and L packages with accordingly compensation costs and coverage options.
What insurance companies provide customer support in English?
Unfortunately, most insurance companies operate in the German language. Only three providers are offering full service in English – Getsafe and Feather.
Feather also provides other necessary coverages, including health insurance, legal insurance, job insurance, etc.
