What types of insurance in Germany are compulsory?
Since the year 2007, it has become mandatorily for everybody who resides in German to have health insurance. Under their law, it is a must for every individual to have a policy with an insurance provider (also known as Krrankenkasse in the German Language). The insurance provider must offer at least the lowest level of insurance coverage. Health insurance is so much given priority in Germany that you would not be allowed to stay for more than three months before getting insured.
There are two options in Germany: public health insurance (gesetzliche Krankenversicherung or GKV) and private health insurance (private Krankenversicherung or PKV). If you fall behind on your monthly premiums, the insurance companies can no longer cancel your contract. You remain insured (albeit for emergencies only) according to the German statistical office, there are still well over Protected content in Germany roaming around without health insurance.
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There are three options for health insurance while living in Germany if you are required to show proof of health insurance: the government-regulated public health insurance scheme (GKV), private health insurance from a German or international insurance company (PKV) or a combination of GKV and supplemental PKV. If you fail to get health insurance in Germany, the treatment would be paid for by your last insurance provider. Still, you owe the full amount of health insurance premiums, plus 1{f08ff3a0ad7db12f5b424ba38f473ff67b97b420df338baa81683bbacd458fca} interest per month, and you won’t be able to get back into normal care unless you pay them off in full or declare bankruptcy.
The normal premium is between 400 and 700 euros every month. For those who are gainfully employed, approximately 50{f08ff3a0ad7db12f5b424ba38f473ff67b97b420df338baa81683bbacd458fca} of their contributions will settled by their employer – up to a maximum of approximately 385 euros per month in 2021. While having health insurance has been a legal requirement in Germany since January 1, 2009, some residents still are not covered. Anyone in Germany who does not have health insurance faces fines of up to 14 months of contributions (at a maximum of €639.38 per month). Over 140,000 people living in Germany have no health cover, new statistics show. The rise comes despite the coronavirus pandemic and it being compulsory to take out a health insurance policy
Another insurance that is mandatory in Germany is Liability insurance, which is one of the most important alongside health insurance. Liability insurance is not mandatory in Germany, except for vehicles, when holding certain large animals or working in a specifically dangerous profession.
Liability insurance is required by most states and covers the cost of damage and injuries to others you cause in an accident. In other words, liability insurance does not cover damage to your car or injury to yourself, only damage to others for which you’re legally liable.
If you have assets you would like to protect, the personal liability insurance cost is usually well worth it. If you do not have personal liability coverage, you could lose your home or other assets to pay for the costs.
