Germany

The Importance of Insurance in Germany

Insurance is an important necessity in Germany, not just for its residents but also for the numerous tourists who travel to Germany. Due to the great demand for insurance in Germany, several types of insurances are available for purchase, with different packages and plans that customers can choose from.

Travel insurance, liability insurance, and house insurance are some of the most popular insurances that can be found in Germany. Most of the insurances are meant to be useful for the residents, while some are useful for tourists and students.

Different Types of Insurances Common in Germany

Amongst the countless insurances available, the following insurances are the most widely purchased in Germany

1.   Travel Insurance

When traveling abroad travel insurance must be purchased immediately, and with Germany being a prime spot for tourists it is important to invest in travel insurance which provides cover for most incidents and damages.

Travel insurances in Germany can cover medical expenses, travel expenses, and pet insurance. In case of an illness or an accident, travel insurance will make sure that you can afford to get treatment and if you miss your flight, lose your baggage or become the victim of a delayed flight, then travel insurance will be useful for reducing any financial loss during your trip.

2.   Liability Insurance

Liability insurance is important for any individual. The residents of Germany often buy this insurance for security and protection from any wrongful claims. This insurance will protect you from any form of personal damage and property damage.

The insurance covers any damage or accident which can cause harm to you or your property. It is immensely important insurance for people, especially if they want to feel safe regarding their own wellbeing or property. Liability insurance is used by people as a safety guard for the numerous accidents which can take place at any moment.

3.   House Insurance

House insurance is essential for any homeowner. Residents of Germany are especially eager to buy this insurance to ensure their houses against any form of damage. In Germany property can be extremely expensive and damages can cost a lot, this is where house insurance becomes useful.

House insurance ensures a property and its contents from any form of damages. These damages can be related to a fire or other forms of unforeseen accidents. The insurance allows homeowners to stop worrying about their property as it will handle the financial costs of any damages.

Top 3 Insurance Providers in Germany

Since insurances are extremely popular in Germany, there are several leading insurance companies that provide premium quality insurances. The top 3 are listed down below

1.   Allianz Insurance

Allianz insurance has an exceptional branch in Germany which provides quality house and health insurances. They even provide liability insurance for people and provide extensive products and services in all insurances. Their aim is to provide excellent service which allows their customer to live safer lives while giving them all the facilities they may need.

They have 92 million customers in more than 70 countries. Their website is a good source to know more about the services provided by the company and look into their packages. It even has detailed information on the company’s future goals and incentives.

2.   ERGO

Ergo is the leading travel insurance provider in Germany. They have detailed travel insurances packages with affordable prices and varying services provided.

They provide normal cancellation insurance, which is starts from only 5 pounds. They have cancellation insurance for families and couples which also starts from 5 pounds and they provide annual travel insurance which starts from 11.50 pounds.

The company aims to make traveling easier and without any problem for people. They make it easier to deal with cancellations, health and other traveling related issues which may arise like loss of luggage.

They make traveling fast and uncomplicated, their website provides all the basic information needed to buy any of the packages. They have an easy process and within a few minutes, all of your travels can be insured.

3.   Talanx AG

Talanx is the third-largest insurance company in Germany and one of the top countries in Europe. They provide a wide range of services which help their customers in choosing the right type of insurance. Talanx is active in more than 150 countries. The company provides all forms of insurances, from health to life insurance and even travel insurance, customers can find everything they need in one place.

The company also helps customers to choose from a variety of packages and plans present, and help them pick the one which suits their needs the best. Their website is the perfect place to find all the relevant information needed to purchase quality insurance.