Insurances (Versicherung)

In Germany this insurance is mandatory for all people earning a German salary and on a German payroll. This is the statutory contribution required for payments towards the government programmes to assist the unemployed. Contributions are deducted from gross monthly earnings to a maximum gross salary capped rate (matched also by the employer). See Taxes/Statutory Deductions for current contribution rulings.

In Germany, insurance is not just a good thing to have - it is mandatory in a lot of areas. The following is a brief summary of what is required.

As in the UK, monthly earnings are subject to deductions for the German State Pension fund, these are mandatory deductions from gross monthly earnings to a maximum gross salary capped rate (matched also by the employer). Please refer to Pensions - State Retirement, for full details of the impact on any current UK State pension fund and details of the continuation of contribution for a full-working life (applicable to accompanying spouses' also). In addition refer to Section Taxes/Statutory Deductions for current contribution rulings.

Health Insurance is mandatory in Germany, as either Private or State (see Healthcare section). Contributions vary for the individual depending on whether in a private healthcare or in State Healthcare, but in either case 50% of the contributions are met by the employer. Please refer to Healthcare for details of provisions, also section Taxes/Statutory Deductions for current contribution rulings.

Since 1995, every person living in Germany has been required to participate in another mandatory insurance plan, long range nursing insurance (Pflegeversicherung). Members of the State Insurances are automatically enrolled in this insurance plan and its premiums are also deducted from pay and matched by the employer. Nursing care covers health costs resulting from old age or disability, paying for in-patient care at a nursing home, for nursing care at home and for equipment such as a wheelchair or special bed. See Healthcare Section for further details, also Taxes/Statutory Deductions for current contribution rulings.

This insurance insures against the effects of causing an accident, whether it is an injury to another person or damage to property. In all cases, if damage or injury is caused and the blame clearly falls on one individual, German law will in most cases compel that person to honour all costs. Private arrangements must be made for this insurance coverage for employees and accompanying family members (plus also pets, if applicable!).

There is a statutory requirement for all companies to insure their employees against accidents in connection with their work. The carriers of these insurances are certain employers' liability insurance associations ("Berufsgenossenschaften"). Each sector

of industry and business is attributed to certain associations, these associations individually set the amount of contributions, which are to be made by the employers only. Coverage for the employee is for accidents in the workplace, and also accidents on the way to/from work, with respect to medical fees, which would be managed by this company insurance, not your own healthcare insurers

Household Insurance covering the contents of your home against fire, water damage, theft, vandalism and hail, isn't required by law in Germany, but it is recommended and some landlords demand it.

Policyholders should make sure they insure their household goods for their full value and maintain a current list of all personal items such as furniture, home entertainment equipment, jewellery and antiques.