These insurances are essential at the end of school

 

For many young people, a new phase of life will soon begin: If you study or train, consider adapting your insurance coverage to the new situation. People who are new to work or studying can find the most critical insurance policies here.pressSplit

The essentials in brief:

• Insurance coverage must be adjusted after school.
• Students and trainees should insure against existential risks.
• We list which insurance companies you should clarify now.

Table of contents

• What do I need to know about health insurance?
• How important is personal liability insurance?
• Do I need occupational disability insurance?
• Can household contents insurance make sense?
• Private pension and life insurance: How can I make provisions for later?
• Vital if you drive a car

After school, young people are on their own – and have to deal with some insurance. That's why you should pay particular attention to things that pose an exceptionally high risk of damage: We recommend taking out private liability insurance if your parents no longer cover you. Protecting your workforce is also essential, but as a student, you can also set the course for good protection.

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What do I need to know about health insurance?

As a trainee, you are usually compulsorily insured under statutory health insurance (GKV). As a student, you can be insured through your parents in the statutory health insurance company for up to 25, free of charge as part of the family insurance.

But be careful: Anyone who earns more than 520 euros in a student job must also insure themselves. However, there are exceptions for the job during the semester break, where you can sometimes earn more.

If you already have private health insurance and want to keep it while studying, the existing contract must be continued subject to contributions. Private health insurance usually runs through the parents, but no free family insurance like the GKV exists.

International travel health insurance is essential for stays abroad. Even when traveling to countries with a social security agreement, the health insurance company will not pay for any necessary return transport. This can result in high costs for you.

More and more insurance companies are offering supplementary health insurance (for example, for dental treatment), including for students. On the one hand, the contributions are lower if you graduate at a young age. On the other hand, you have to ask yourself: What do I need - and how much can I spend on it now?

How important is personal liability insurance?

This protection is essential. Everyone is liable for the damage they cause to another with everything they have and will earn in the future. Family members are considered co-insured under most plans if your parents have a liability policy. This includes, for example, unmarried children during their school years and the immediately following vocational training or studies. Some providers have an age limit of 25 years, but this can vary from insurer to insurer.

A separate contract becomes necessary once the training has been completed or the appropriate age has been reached.

Do I need occupational disability insurance?

Your labor is the basis for securing your livelihood. No insurance protects against accidents and illness, but it does protect against the financial consequences. Anyone who can no longer do their job for a long time for health reasons often faces existential problems. We therefore strongly recommend taking out private occupational disability insurance ("BU").

Pupils, students", "and young professionals face particular problems when they lose their jobs. They often have no or only limited protection from statutory pension insurance providers.

The earlier you conclude a contract, the lower the premiums will be. Pupils and students should also try to get their first BU insurance. You often benefit from the favorable contributions and an advantageous classification of the professional group.

This remains the case even if you later pursue a risky job. Pre-existing conditions also play a significant role in the completion. Anyone who already has a contract at a young and healthy age is safe and can gradually expand it.

Attention: When concluding the contract, you should, therefore, ensure that there are sufficient options for "subsequent insurance" so that you can late" increase the insurance benefit according to your needs without undergoing another health examination.

Can household contents insurance make sense?

In most cases, household contents insurance is not that important for your first home. Depending on the insurance conditions, students living away from home can be insured against burglary and the like through their parents' insurance - parents should clarify this with the insurer in advance as a precaution. The insurance benefit is then usually capped.

Private pension and life insurance: How can I make provisions for later?

There needs to be more than the statutory pension for the younger generations to maintain their usual standard of living. The younger you are, the less you will have to expect from the state later. Starting your first job is an excellent time to take care of your private pension provision.

However, the models surrounding Riester are very complex. It is best to get individual advice from consumer advice centers.

Vital if you drive a car

If you drive a car, you need vehicle liability insurance. But whether you have to have partial or fully comprehensive insurance depends on two factors: your wallet and the car. Comprehensive insurance is often no longer worthwhile for older vehicles.