Does private accident insurance make sense?
Created: 07/08/2022 15:07
By: Janine Napirca
Read here why it is rarely worth taking out private accident insurance and which alternatives are better.
Are you thinking about taking out
personal accident
insurance?
Below you can find out in which cases it is worthwhile and when experts from the Verbraucherzentrale and
Finanztip.de
advise against spending money on private accident insurance.
According to
Finanztip.de
, private accident insurance is voluntary insurance that pays you a previously agreed amount of money or a pension
if you suffer permanent damage as a result of an accident
- regardless of whether the accident occurred at
work
or in your
free time
happened.
Does private accident insurance make sense?
And if so, for whom?
Private accident insurance does not make sense for many people.
According to the Finanztip.de
report
, it can be worthwhile in certain cases for some people who do not have (affordable) disability insurance.
For example, for
pensioners, people who have previously done unpaid care work, children or athletes who are exposed to a higher risk
of accidents .
The consumer advice center also names the
self-employed, people without a job, those in employment with previous illnesses or people with a very high risk
of accidents as examples for whom private accident insurance might make sense.
Do you have private accident insurance?
(Iconic image) © Christoph Hardt/Imago
When is private accident insurance not worth it?
According to the report by the consumer advice center, employees are already insured for
work and commuting accidents
and
occupational diseases
, because the employer has to take out compulsory insurance through the
professional association
- and also pay for it.
In addition, since this year the employer has also had to subsidize old contracts for company pension schemes.
Private accident insurance therefore makes little sense for employees.
Children and young people
, as well as
students
, also
enjoy
insurance
protection within the framework of
kindergarten, school or university
.
However, leisure activities would have to be secured privately.
Tips from Finanztip.de:
First check whether occupational disability insurance is an option for you, as this offers better protection than private accident insurance.
If you decide to take out private accident insurance, be sure to check the various providers for a good
membership fee
.
Also choose a
high insurance sum and make sure
that rescue costs and necessary cosmetic operations are covered.
Be careful with private accident insurance: In these cases, the insurance company does not pay
According to the Federal Statistical Office, only
one percent of all severe disabilities can be traced back to an accident
.
In most cases, an illness is the cause - and therefore not a case for private accident insurance.
What exactly counts as an accident?
Verbraucherzentrale.de defines an accident based on experience with insurance companies as follows:
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An accident occurs when the insured person involuntarily suffers damage to his or her health as a result of an event that suddenly affects his or her body.
Consumer Center
That means concretely:
"Suddenly"
: damage to health caused by an event that happened within a relatively short period of time (permanent stress in sport or pathological disorders as a result of mental reactions such as anger, excitement or shock are not covered by private accident insurance)
“Acting on his body from the outside”
: for example, a collision on the road or an injury from a falling object
"Involuntary"
: Suicide or self-mutilation are not insured, but grossly negligent acts are
According to Verbraucherzentrale.de, damage to limbs or the spine caused by exertion is also considered an accident if joints are dislocated, muscles, tendons, ligaments or capsules are strained or torn.
If you want the private accident insurance to pay, you
have to prove to the insurance company that it was an accident according to the criteria mentioned.
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According to
Finanztip.de
, you should also note that private accident insurance only pays if the
health damage is expected to last longer than three years
and
no improvement is expected
.
For example, if you had a motorcycle accident and recovered completely, you are not entitled to insurance money.
Are you looking for a good and affordable caregiver, for example for your parents?
An expert gives helpful tips.
What alternatives are there to private accident insurance?
The consumer advice center recommends covering risks with alternative insurance at lower cost.
Alternatives to private accident insurance:
Disability insurance
: Protection if you become unable to work as a result of an accident or illness
Daily sickness benefit
insurance: Protection against loss of earnings due to accident or illness
Term life insurance
: Securing the care of your descendants
Before you take out insurance, you should find out which solution is
best
for you.
And if you want to do something for your health beforehand: These apps for mental health are paid for by health insurance.
(jn)