Accident Insurance and Occupational Disablement Insurance
Private accident insurance covers the costs of treatment for permanent physical or mental impairment resulting from an accident. In addition, salvage costs, cosmetic operations, hospital per diem, and payments in case of death can be covered. Accident insurance will of course only cover associated costs should the cause of the damages really be an accident.
Another case is statutory accident insurance. You’ll automatically have this insurance coverage when you begin working in Germany. Internships and mini-jobs are also included. Statutory accident insurance will cover you while you’re at work and while commuting.
Also very important is occupational disablement insurance as a supplement to accident insurance. An occupational disablement insurance policy will cover costs that arise should you no longer be able to perform your occupation due to physical or mental impairment. This policy will also cover you if illness is the cause, as opposed to accident insurance. For occupational disablement insurance, however, an important requirement is a set occupational profile.
With both accident and occupational disablement insurance, you can individually set the sum insured. The monthly costs will depend on the sum insured. Accident insurance policies are available starting at about €20 a month. Occupational disablement insurance policies, on the other hand, are relatively expensive. Here you can expect policies to cost about €40 a month. For a policy with extensive coverage, you can easily pay over €70 monthly.