Expats, Insurances, Moving to Germany, Partnerships

Liability Insurance In Germany – Definition, Types & Providers

Private liability insurance

Here’s the ultimate guide to understanding liability insurance and comparing different providers. Subscribe for free at Ocyan and get a free quote from the best liability insurance provider in Germany. Read the article to find out all the advantages!

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Germans Take Liability Insurance Very Seriously 

Moving to Germany? Fantastic! You must be excited about your next adventure, and you’ve probably ticked off every item on your checklist. Additionally, there is one crucial thing that you must take into account before moving to Germany. It’s the Liabilities insurance

Did you know that about 83% of Germans have private liability insurance? Think about any and every potential risk – they have it all covered!  

Liability Insurance plans in Germany
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As an expat, you don’t want to be under-insured, which usually happens with newcomers. Ocyan is unlocking the power of secure and resilient data connections to enable cross-border inclusion. We aim to build reliable bridges among countries. Providing a trustworthy and affordable solution is part of this project.

Why Do Expats Need Liability Insurance?

Besides opening a new bank account in Germany and applying for health insurance , you need to insure yourself against injuries, property damage, and legal liabilities.

While moving to a new country is exciting, even if it is one of the wealthiest economies in Europe, it does come with some considerations. You may feel homesick, lonely, and stressed, which is entirely natural. You just don’t want to add financial crises and accidental damages to that list. Unintentional mistakes during the initial phase can cost you thousands or even millions in claims! Don’t be alarmed. You can easily cover such claims with minimal insurance amounts, usually paid monthly or annually. 

Compare Liability Insurance Providers

Ocyan aims to provide expats the best solution for every product it offers. Therefore, we have compared 3 of the major insurance policy providers in Germany.

COYAHAFTPFLICHTGETSAFE
Monthly cost per coverage4.996.00starts from 3.60
No fixed duration, cancel anytime
Tailored policies to suit your needs
No claim bonus✖️✖️
Contract – EN/DE✖️✖️
Customer support -EN/DE
Website – EN/DE✖️
Best choice for EXPATS
GET COYA

Considering these options, Ocyan suggests Coya as the best insurance provider in Germany for expats. Let’s find out all the advantages in details.

Coya: Your Ideal Liability Insurance Provider

Private liability insurance helps out if the insured person causes physical or material damage to another person. These damages can get quite expensive in the worst case, so Coya insures their customers up to €30 million. You can also protect your loved ones, making sure your whole family is covered. The cherry on top is that you can get insurance cover for your rented vehicles as well.

Advantages of Coya Liability Insurance Policies

When it comes to insurance nobody wants to deal with incomprehensible terms and conditions, a pile of paperwork or long processing times when filing claims. That’s why Coya is focused on maximum convenience for their customers.

Coya is digital, flexible and affordable. All liability insurance plans by Coya are accessible anytime, anywhere, and can be customized as per your needs! Subrscribe for free at Ocyan and access Coya. Among other remarkable advantages, you can benefit from:

  • Free on line quote
  • Get insured in 2 minutes
  • Claim in seconds
  • Cancel anytime
  • Tailored policies
  • No additional papers

Coya currently offers 5 different digital insurance products within its product portfolio, which provide awesome protection for Coya’s customers in various life situations. All of this is possible by subscribing for free at Ocyan. Accessing Ocyan gives you the possibility to benefit from special discounts.

Your Liability Insurance Through Ocyan

If you’re considering moving, relying on a professional relocation specialist can make your work easier and more cost-effective. Ocyan offers a financial relocation package for expats. We lead you effortlessly through the processes of getting your bank account, insurances, mobile contract, health insurance, and other services in one place and with just a few clicks. Subscribe for free at Ocyan and benefit from free quotes and tailored solutions for everyone.

Humans are vulnerable to accidents. By spending 60 euro annually on liabilities insurance, you can save yourself from huge claims. 

Types Of Liabilities Insurance

There are two major categories:

Public Liability Cover

It’s meant for companies or industries that have regular interactions with the public. Public liability cover will protect you from legal liabilities and financial risks. 

Professional Indemnity Insurance

This policy is planned for professionals like chartered accountants, lawyers, engineers, architects, and medical practitioners. If you are one of them, professional indemnity insurance will protect you against omissions, errors, and professional neglect.

Employers Liability Insurance: If you are an employer, you will need this cover against claims concerning injuries at the workplace. 

Product Liability Insurance: Companies that make recreational products, medical products, food, chemicals and tobacco will need this insurance cover. 

Third-Party Liability: Any third-party losses or damages can be covered by third-party liability coverage. It is more suitable for individuals and small industries. 

  1. First-party is the insured.
  2. Second-party is the insurance provider.
  3. Third-party is the person/company making the claim. 

FAQs

1. Do you need liability insurance?

As an individual or a business, you certainly need liabilities insurance unless you intend to pay all potential liability expenses out of your own pocket. Personal liability insurance will help protect you against any lawsuits that arise due to bodily injuries, property damages, or libel/slander. 

2. Who needs public liability insurance?

Business owners living and working in Germany – for instance, require liability insurance. If the nature of your business requires visits by clients for consultations, training, or meetings, then getting yourself insured is absolutely necessary. 

Visit the German Insurance Association to read news about insurance in Germany.  It has around 460 insurance companies as members, regulated by the Federal Financial Supervisory Authority

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