Recommended Insurances
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Apart from mandatory social security insurances (see more details under "Health Insurance / Social Security"), there is a multitude of possibilities for obtaining private insurance to cover other eventualities.
You can seek advice on different types of insurance from private insurance companies or from insurance consultants (in German: Versicherungsberater). Some banks also offer insurance consultancy as part of their financial advice.
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As Eurowings Digital belongs to the Lufthansa Group, you can also make use of the services from "Albatros". They are a kind of broker/insurance consultant belonging directly to the Lufthansa Group. Therefore, their main focus is doing proper consultations for employees of the Lufthansa Group and not making a profit.
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Albatros - the Lufthansa's insurance specialist
As already mentioned above, as an employee of Eurowings Digital, you can get neutral advice from the insurance specialist of the Lufthansa Group: the Albatros Versicherungsdienste GmbH. In case you are interested, they can make contact for all your insurance, financing, and private pension needs. Here are the contact details of our Albatros contact:
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Name: Jürgens
First Name: Raimund
E-Mail: raimund.juergens@albatros.de
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Raimund speaks English ;) So feel free to contact him!
Personal liability insurance (Haftpflichtversicherung)
In Germany, everyone is liable for damage done to a third party. It can, therefore, be highly advisable to take out a (family) third-party insurance (in German: Haftpflichtversicherung) for the duration of your stay in Germany (note that parents are liable for their children). This protects you against claims from third parties resulting from unintentionally caused damage. When damage is due to severe negligence on your part, payments may be reduced or even refused. Standard third-party insurance policies are not expensive and conditions are usually similar between providers (app. 80 - 130 Euro per year). From our perspective, this insurance should be a MUST for everyone ;)
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Legal Cost Insurance (Rechtsschutzversicherung)
The Legal Cost Insurance will pay the costs of a lawyer or associated costs if you require legal assistance or have to go to court. According to individual needs, policies are often only taken out for specific areas (tenancy matters, cars, etc.). It is recommendable to seek advice in this area. More information can be given by an insurance broker (like Albatros).
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Household Insurance (Hausratsversicherung)
The household insurance covers the costs incurred in the case of burglary, vandalism, storms, and other events. It usually replaces damaged items at their current value, including furniture, appliances and a limited amount of cash. The household insurance cover should correspond to the actual cost of the items insured in the household. If you have possessions of high value, it might be necessary to take out additional insurance. Please ask an insurance broker (like Albatros) for more information.
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Life Insurance (Lebensversicherung)
Life insurance is a commonly-held insurance in Germany. It guarantees the family of the insured person a fixed cash sum if they die. Many Germans also consider life insurance as a form of long-term investment for old age. Term insurance (Kapital-Lebensversicherung) requires you to pay premiums for a certain number of years and pays out the capital accrued at the end of the agreed term. If the insured person dies before this time, the money is paid out directly to his beneficiaries. In most cases, life insurance premiums are tax-deductible and the proceeds are often considered as a supplement to pension insurance.
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