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Things to Know Before Getting Expat Insurance in Germany

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Life in Germany can be an excellent opportunity for expats to settle in Europe for better career growth and an enhanced lifestyle. With great beer, hearty food, and stunning landscapes to explore, German life is anything but dull (although we could do with a few more sunny days!)

If you’re planning on moving to Germany soon, there will be numerous things to look into. Job opportunities and living arrangements are probably at the top of your to-do list. Still, it would help if you also looked into expat insurance Germany to ensure a comfortable and financially secure life.

Here are the essential insurance policies that you should be looking into.

Who Needs Expat Insurance 

Now that you know of the different types of expat insurance Germany, you’re probably wondering who needs them. The German laws state that all residents need to be insured for hospital and outpatient medical treatment. So, if you plan to stay in the country for more than three months, you will need public or private health insurance Germany. It is mandatory to show proof of your health insurance when you apply for a German visa.

Secondly, if you plan to drive your car in the country, you will also need to get a vehicle insurance policy from MW Solution Services. 

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How to Choose Health Insurance Germany

The first and most important thing to do when applying for a German visa is considering your options for expat health insurance Germany. There are two main types of health insurance policies; public health insurance and expat private health insurance. Let’s take a look at both of them so you can make a well-informed decision for yourself and your family.

Expat State Health Insurance

All of the expats living in the country are entitled to state-backed public health insurance in Germany, which is mostly funded by contributions for social security. This healthcare scheme covers about 90% of the country’s residents, and it includes people in paid employments or training programs that earn less than €60,750 per annum.

These people don’t need to contribute to this insurance policy as long as their monthly income doesn’t exceed €415–450. Moreover, spouses, children, and civil partners (up to the age of 23) of expats covered by public healthcare insurance are eligible for co-insurance, too, as per the Gesetzliche Krankenversicherung (GKV).

However, the GKV does come with some hidden costs. For example, an excess of €10 is charged for each day spent in the hospital, and prescription glasses aren’t covered. To protect yourself against unknown costs sneaking up on you, get help and easy-to-understand information regarding state healthcare insurance in Germany from the experts at MW Solution Services.

Expat Private Health Insurance

In Germany, around 1 in every ten residents opt for expat private health insurance as it offers shorter waiting times and improved hospital conditions. Whether you’re eligible to shift from state to private health insurance Germany mainly depends on your employment status. Here is a list of people who can apply for private health insurance:

  • Earning more than €60,750 per year.
  • Self-employed.
  • Civil servant.
  • A student who has renounced state insurance.

Perks of Expat Private Health Insurance

Have you ever gone to the hospital with dreadful pain, only to have to wait for hours before a doctor can tend to you? We can’t blame hospitals; after all, they are primarily understaffed and overworked but still doing their best to accommodate the patient inflow. 

The best way to ensure you get immediate access to healthcare facilities is by opting for private health insurance Germany. It offers you more extensive services, advanced patient care, and lower waiting times. Moreover, you also get better accommodation and access to highly experienced doctors who only tend to private patients. You also won’t need to make additional co-payments for medicines, which can save quite a few euros in the long run.

An additional benefit for expats is that you are more likely to find a doctor who speaks your language with private insurance.

However, a significant drawback of this kind of expat health insurance Germany is the fact that, unlike state health insurance, it won’t cover children, spouses, or partners for free. Remember that it is challenging to revert to the state health insurance scheme once you opt-out, so make this decision wisely!

Learning About General Insurance in Germany

A general insurance policy protects you and your financial well-being in numerous ways. A particular policy works to secure your assets, rights, and properties, making it essential, particularly if you’re moving to a new country, to live as an expat. Whether it is your new home with all of your possessions inside it, a car, or even your life, you need a way to ensure it all in case of any accidents.

That is where MW Solution Services GmbH steps in, protecting everything that you’ve worked so hard to achieve. We understand just how important it is to secure your future through smart financial independence and therefore dedicate our efforts to incorporating total security measures into all of your assets. This way, if any accidents, illnesses, or other unforeseen risks occur, you can be at peace knowing you and your loved ones won’t be facing any additional troubles.

You can insure yourself against virtually any type of risk through MW Solution Services. Here are some of the general insurance policies in Germany we offer to make your life in Germany safer and more comfortable.

  1. Personal Liability Insurance (Haftpflichtversicherung)

Personal liability insurance is one of the most important expat insurance Germany as it ensures financial protection for you and your family. It does so by providing coverage to pay for any bodily injury or property damage claims made by others, for which you or the covered residents of your household are directly responsible. This policy will secure your current and future assets from any lawsuits, and it comes at a highly affordable price for expats!

  1. Household Contents Insurance (Hausratversicherung)

As the name suggests, household contents insurance in Germany covers the costs of replacing any of your possessions present in your home in Germany. This insurance policy is beneficial in any damages due to fires breaking out, theft and vandalism, harsh weather, or water problems. Since repairs and replacements can be quite costly in most German cities, having insurance lend you a helping hand will prove to be quite beneficial.

P.S. It is important to note that most landlords now require you to have Hausratversicherung before letting you rent out an apartment.

  1. Personal Accident Insurance (Unfallversicherung)

Accidents happen all the time, and there is no avoiding them. It could be something as simple as a heavy object falling on your foot or complicated injuries that land you in the hospital ER. In either case, you need assurance that your future will be secure in case you don’t recover to your full abilities, and that’s exactly what Unfallversicherung does.

Depending on what policy you opt for, personal accident insurance in Germany will award you a lump sum payment or lifelong annuity, which is paid each month. This insured sum will be enough to cover any costs that you bear due to your disability.

  1. Term Life Insurance (Risikolebensversicherung)

Are you the primary breadwinner of your family? Then, chances are you often worry about what would become of them if you’re no longer around to provide, especially living as expats in Germany. Don’t worry, though. MW Solution Services GmbH has the perfect solution to help with all of your worries.

It would be best if you had term life insurance in Germany to offer your family members financial protection in case of your demise. You can easily choose any amount of money that you would like to ensure, so we recommend opting for a number that would be enough to cover any outstanding loans, mortgages, and funeral costs. 

This offers your family some peace of mind during these troubling times and allows them to grieve your loss without having to worry about paying off debts.

  1. Vehicle Insurance (KFZ-Versicherung)

If you’re moved to Germany to work or study, you will need a car to get you around. Now the thing to note is, it’s compulsory to have at least third-party insurance for your vehicle in Germany. You won’t be able to register your vehicle without proof of insurance.

Are you looking for a way to get simplified guidance regarding vehicle insurance or other kinds of expat insurance Germany? Let MW Solution Services GmbH translate the fine print and make this process simpler for you! Talk to our insurance experts here or get a free quote through email.

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