Health Insurance
Even for job starters the question arises whether or not to get a public or a private health insurance. Maybe you were previously covered by your parents’ private health insurance plan, then it might well be that you will benefit if you stay in a private health insurance plan – this is of course dependent on contract conditions just as well as on your own health. Our advice for young people who start their first job: Inquire in advance which health insurance plan includes which (additional) benefits, compare prices and services and make sure to inform your employer immediately about your choice. Because if you miss certain due dates, it might as well be that your employer has already started a health insurance plan in your name. Sometimes it’s not so easy to swop to another health insurance company or an insurance plan at that time.

Motor Vehicle Insurance
If you drive your own car, you need a motor vehicle insurance. For novice/young drivers, the insurance fees are quite high, due to their lack of or low driving experience. This is why many families decide to co-ensure their kid’s car with their own insurance. Yet this has the following downfall: the novice driver does not collect or build up so called “SF-classes” (damage-free years) on his own from the beginning. As a consequence the damage-free years can often also not be transferred to their own contract in later years. So think about this twice and ask for professional advice. In some cases it could really make sense to insure your own motor vehicle from the beginning. If you need someone to help with calculations – we are happy to help!

Employment Liability Insurance
In Germany all civil servants or public employees need an employement liability insurance (“Diensthaftpflicht”). This insurance is really a very important one, because you are personally liable – with all your private finances and own possessions – for damages caused in the course of your office duties. Making a small mistake can already result in claims of damages amounting to millions! We advise you to please not choose or sign this insurance “last minute” or based on an online offer. According to your occupational group, details and conditions might vary a lot. Ask for professional support when making your choice.

General liability Insurance

There’s no doubt about this: Everyone needs a general liability insurance. It pays for damages that you have inflicted on someone else (third party). Of course only, if this damage did not happen intentionally. In the past, the reason why one needs to have a liability insurance was often argued as follows: “You help your friend with moving, you drop the TV, it breaks and you have to pay for the damage. The cost will then be paid by your private liability insurance.” In our opinion, this should not be considered the main reason why one needs a general liability insurance. There are much bigger and more severe damages like a broken TV, for instance if you are riding a bike, you are unmindful for a second and hit someone else. Then this accident may lead the person to suffer a serious injury and you having to pay hundreds of thousands of Euros as a consequence. This could easily and quickly mean a total financial loss for you, if you do not have an insurance. Our advice here: have a very close look at what exactly your insurance at hand covers, compare prices and services – but: please consider that the insurance with the lowest fees is not always the best option!

Disability Insurance

According to statistics, every forth employee becomes disabled during his working life. By the way, anyone who only thinks of serious illnesses or an accident when it comes to occupational disability, is wrong. Because frontrunners among the reasons for an occupational disability are increasingly mental illnesses – a trend that affects especially younger workers. So if you think you are save simply because you work in an office – a place you consider quite hazard free compared to a factory for instance – then you are completely mistaken.  Without a disability insurance, in case you get sick, it is very likely that you will not be able to maintain your standard of living for quite a long time, because soon you will have to live off Hartz IV and on a monthly budget of roughly 800 Euros or less. So think twice and don’t put off the risk of getting sick simply because you feel young, strong and invulnerable right now.