Insurance: mandatory and “essential”

Mandatory by law: Krankenversicherung (health — no living, working or studying without it) and Kfz-Haftpflicht (if you drive). “Essential” in daily life: Privathaftpflicht (~€50/year) — pays when you break someone else’s stuff; nearly every German has it. Depending on your situation: Hausrat (belongings), Berufsunfähigkeit (if you can no longer work), Rechtsschutz (disputes with landlord or employer).

• ●Liability = the most important everyday insurance: ~€50 a year
• ●Insure risks that could ruin you — not scratches
• ●Disability insurance is cheapest when you are young and healthy