All information from AZ (2020)

If you want to find out whether private accident insurance makes sense for you and your family, you will often come across very one-sided opinions on the Internet in one direction or the other. So that you can clarify this topic for yourself once and for all, in this expert article we want to provide you with all the information you need so that you can make a rational decision for yourself, because, as is so often the case, there is here, too, there is no universally valid decision for everyone.

private unfallversicherung sinnvoll - Private accident insurance

How does private accident insurance work

The principle is very simple: If you suffer permanent impairment of your body or mind as a result of an accident (disability), you will receive a one-off sum of money and / or an accident pension from the insurer, depending on the tariff. Directly after a serious accident, this can help to finance the associated changes, for example the necessary renovation of your house or vehicle. In general, one can say that you can finance your new life situation with it. The subject is complicated by the fact that there are countless tariffs on the market, some of which differ enormously. This article is intended to help you understand what you should definitely look out for in private accident insurance.

The term accident

The definition of the term accident is important here. It’s super easy to remember. With the donkey bridge “PAUKE”. PAUKE stands for: P suddenly from A. outside U nvoluntarily to the K body effect E. event with damage to health. This is actually the official definition of the term accident. Here the wheat is separated from the chaff for the first time. Many insurers go one step further in the interests of the customer and expand the definition of an accident. Specifically, this means that additional services are covered. We will go into this in more detail below.

“An accident occurs when the insured person involuntarily suffers damage to his health as a result of an external event that suddenly affects his body.”

Definition of the term accident by the insurer

What does a private accident insurance do?

In the event of an accident-related disability, you will receive an agreed benefit from the insurer. The insurance cover is valid worldwide and around the clock. The services differ from tariff to tariff. Insurance with a head recommends a high accident sum (basic disability) of at least € 100,000 as one of the most important criteria. You will then receive an amount depending on the degree of disability. The degree of disability is determined based on the member tax. This determines what percentage of the agreed basic disability you will receive. We’ll explain exactly how this works in a moment. It is important to understand at this point that if you are 20% disabled, you will receive 20% of the basic sum, if you are 60% disabled you will receive 60% of the basic disability, etc.

Choose the appropriate progression

The progression of at least %-350% benefits in the event of an increased %-350% of disability is also %-350% recommended. Translated, this means that the more serious the disability is, the more benefits you get. If you are 100% disabled, you will then receive, for example, 350% of the agreed amount, i.e. € 350,000. This makes sense because the more serious the accident and its consequences affect you, the greater the need.

High base sum is more important than high progression

The mistake is often made here of choosing a small basic sum with a 1000% progression. For example, € 20,000. This pushes the amount down a lot, but that’s because most cases amount to a “small” disability of less than 20%. In this case in particular, the progression is of no use to you. So that you also receive a decent sum, you should pay attention to these points when taking out private accident insurance.

When does private accident insurance pay out?

Basically, if you suffer an accident-related disability. The time of payment then depends on several factors. In general, the requirement must be met that you suffer from permanent physical or mental impairment as a result of the accident. Since it often takes several months to determine the final degree of disability, it can make sense to include an additional module. This serves to ensure that you immediately receive an agreed service, which we will go into in more detail in a moment.

Are there also benefits in the event of occupational disability?

No! Private accident insurance is by no means a substitute for one Occupational disability insurance . And not the other way around. This quickly becomes clear when you consider what these safeguards are actually intended for. A private accident insurance is there to ensure that you receive a large sum of money after a serious accident so that you can adjust to the new life situation. If, for example, you have to renovate your house or have it. The Disability insurance (video: Do you need a BU) secures your regular monthly income if you can no longer work more than 50% of the time. It is important to know that 9 out of 10 occupational disabilities are not triggered by an accident, but are due to illness. This is not covered by the accident insurance. Just like the occupational disability insurance does not cover a high lump sum. So you can say with a clear conscience that private accident insurance is a good addition, but by no means a substitute for private occupational disability insurance.

Now some will say: “Yes, but you can also take an accident pension with you, then you also have an income protection”. Right, but only in the event of an accident. Not when the cause is illness. So you can add this module, but it is definitely not a must.

Differences to statutory accident insurance

Statutory accident insurance

Every employee is legally insured against accidents through his employer. The good news: Your employer pays the contribution in full. The responsible trade associations are responsible for this. Occupational accidents, commuting accidents and occupational diseases are covered. Accidents on the road are considered to be commuting accidents direct way to work. If you supplement this route with detours for private reasons, the protection expires with a few exceptions. That means the protection of the statutory accident insurance only applies to part of your life. In addition, this only pays if the earning capacity is reduced by at least 20%. That means, if you are only 15% incapacitated, the statutory accident insurance does not pay.

Self-employed people can also voluntarily take out statutory accident insurance, which is only of limited use, as we will see shortly.

3 out of 4 accidents occur during leisure time and at home

According to the PAUKE definition, almost 8.5 million accidents occur in Germany every year. Most of them assume lightly. However, if you are one of those people who do not go well, you are most likely facing a major financial problem in addition to the physical damage. If the accident happened during leisure time, like 3 out of 4 accidents, the statutory accident insurance does not pay. It is precisely this risk that private accident insurance covers.

Private accident insurance

The private accident insurance is, as the name suggests, a voluntary insurance with private insurance companies. The protection applies worldwide and around the clock. This means that you can cover this risk comprehensively with it. Even if the accident happens during working hours, the private accident insurance pays in addition to the statutory one. In return for the statutory accident insurance, you can agree on the already mentioned and important one-off payment, i.e. the individual basic sum.

Roughly broken down, the difference is that the insurance coverage of the statutory accident insurance is limited in time to professional activity, while the private accident insurance offers you protection around the clock around the world.

Is it worth taking out private accident insurance?

You can hardly answer this question with insurance companies. The questions you could ask yourself here instead are:

Can I financially afford the worst case?

If no, ask yourself: Is the price for this protection affordable for me and is it worth it to me personally?

If yes, ask yourself: Do I want to pay for it myself in this case or shouldn’t an insurance company do it? The protection doesn’t really cost a lot.

Depending on how you answer these questions, you will know whether this protection is worth it to you.

Who needs private accident insurance?

Someone who is pursuing the goal of securing his workforce does not need it for this in any case. Only one is suitable for this Occupational disability insurance .

If you are one of those people who, in retrospect, after an accident with permanent damage, would be damn happy that you have taken out private accident insurance at some point, then it would make sense for you personally.

Useful for active athletes, frequent travelers, car drivers

Especially if you are active in sports, you should think more than once about private accident insurance. With many insurers, however, there are exclusions regarding extreme sports or motor sports. But if you know that, you can also pay attention to this when taking out the insurance, as there are different offers from insurer to insurer that also insure these risks, possibly for a small surcharge. More on that later.

Also very useful for children

Private accident insurance can also be useful for the smallest of us. These are often also available as an additional component in good training provision. Children in particular are often raging all day and are therefore exposed to increased risks. My nephew was the first to have an accident insurance policy. As an uncle, I feel better when we romp around together outside.

Pensioners are often affected by accidents

There are also tariffs for pensioners. They don’t romp around all day, but falls can often cause serious damage. This can be useful if you don’t want to burden your relatives financially in such a case or if you don’t have any relatives at all who could compensate financially.

Which services should definitely be included?

As mentioned, they are high Basic sum (Rule of thumb 3-5 annual salaries, but at least € 100,000) and one Progression from 225 %-350% . There are also other points that are important, optional and unnecessary. A death benefit also makes sense, whereas the accident pension is rather superfluous if you have occupational disability insurance. If you do not get this for health reasons, an agreed accident pension can cover at least part of the risk. However, they do not offer an equivalent substitute.

In addition, there are other points that are important:

→ extended definition of accident: In this way, the accident insurance also pays out in the event of consequential damage caused by increased force, if a muscle or tendon should tear or be pulled during movement without external influence. An important point, especially for athletes.

→ Contribution: This should be 100% if possible, but at least 50%. The participation portion means that the service you are entitled to is reduced by the amount that a previous illness contributed to this accident. For example, if you have rheumatism and can no longer move your knee after an accident, the accident is the trigger, but the illness is involved. Depending on your participation, the service will then be reduced accordingly. If you have a 100% contribution, the benefit will only be reduced if the accident is 100% due to the previous illness.

So: high participation rate!

→ cosmetic operations: If a sum for cosmetic operations is agreed in your contract, the insurance company will pay for operations that are not absolutely necessary for your health, but serve to improve your appearance again.

→ Stroke, heart attack, impaired consciousness: Very good insurers also pay if an accident occurred in the first place because one of the reasons mentioned preceded an accident. This is especially not possible with older contracts.

→ Alcohol and medication: Some insurers also pay if you have been drunk to a certain level. This limit varies. You can also pay attention to this point when you are exploring the bottom of beer or wine glasses.

→ Rescue costs: sometimes high rescue costs arise in the event of serious accidents or accidents in complicated places such as in the mountains or on vacation in special places. Here too, some insurers offer a service.

→ suffocation, freezing, drowning: Many insurers also cover damage from suffocation, frostbite and drowning, although by definition this is not an accident.

→ Death protection: Here you can take in a sum of, for example, € 10,000-20,000. Paradoxically, however, not to insure your surviving dependents in the event of death; you should rather take out term life insurance. This pays for (almost) every cause of death. Some insurers guarantee immediate payment if the degree of disability has not yet been determined.

→ Poisoning and infections: This point is also included with many insurers, which ensures that payment is also made as a result of disability due to the consequences of tick bites or the like.

→ Extreme sports, motorcycle etc .: Extreme sports and motorcycling are excluded from most insurers. If you fall into this group and are subject to an increased risk, you should compare the tariffs in this regard and, if necessary, include this risk for a surcharge.

Which additional services are unnecessary?

As with almost every insurance, there are additional benefits here too, strictly speaking not necessary and only push the price up. These are at most “nice to have”.

Hospital daily allowance

As a result, you would receive, for example, 10 € a day for every day you are in the hospital due to an accident, depending on the agreement. These € 10 will probably not be decisive in the worst-case scenario. You can save yourself this additional fee with a clear conscience. What you can think about is a daily sickness allowance insurance.

Contracts with premium refund

We Germans love this term. We would ideally like to conclude the product five times if it includes the term “premium refund”. If you really calculate these products, you realize that this is just complete nonsense and only one person benefits from it: namely the insurer. You can save this additional contribution and invest wisely.

Dynamics don’t always make sense

Due to a dynamic, your contribution increases annually by a certain percentage. This makes great sense with some insurance companies, but not with private accident insurance. You will receive a one-off benefit here and the need will probably decrease with increasing age.

Accident pension

If you already have a good disability insurance, this is not absolutely necessary. Should you suffer an accident with health consequences and become unable to work, the disability insurance pays. In the event that you are partially or fully disabled but not incapable of working, you can still continue to work normally and do not need a monthly income from the insurance. If you do not get BU coverage because of your state of health, you can cover at least part of the risk with the accident pension. But don’t forget that 90% of occupational disabilities are not due to an accident but to other illnesses.

Transitional benefit

If after six months there is still no clear result, you will receive the agreed transitional benefit after 6 months. In this case, however, you may even get the agreed death benefit paid out earlier, even if there is still no clear result. This point covers, even if it sounds somewhat paradoxical, the death benefit. If you really want to insure your death financially, it would be better to take out term life insurance, as this pays out even if your death is not accidental.

What does the member tax mean?

The link tax says exactly how disabled you are, depending on which part of the body is impaired. This link tax differs from insurer to insurer. Think of it like a body with a number on each limb. If there is a 50 on the knee, it means that you would be 50% disabled with this insurer if you were permanently disabled from the knee down. For example, if you lose the functionality of a finger, you are 2% disabled with one insurer and 5% disabled with another. Here it is advisable to choose an insurer where the numbers on the limbs are comparatively high, i.e. insurers with a particularly good limb tax.

Comparison of accident insurance

Using the comparison calculator below, you can easily find the right accident insurance and apply for it directly online.

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Frequently asked questions

For whom is the insurance useful?

This protection is very useful for people who are exposed to increased accident risks, be it through sport or private travel and driving, but also for children. In addition, people with dangerous hobbies in particular should take a closer look at finding out which insurers cover these increased risks. The self-employed have no statutory accident protection. You do not even include commuting and occupational accidents if you have not voluntarily taken out accident insurance. Employees can also use it to complete their protection against accident-related disability, as most accidents do not happen at work and are therefore not legally insured.

Is accident insurance an alternative to disability insurance?

No. The occupational disability insurance serves to secure your monthly income or your monthly expenses if you become disabled. Private accident insurance, on the other hand, should provide you with a one-off benefit so that in the event of an accident-related disability you can adapt to the new life situation and finance changes. Bear in mind that only around 10% of occupational disabilities are triggered by an accident. You can see private accident insurance as a useful addition to occupational disability insurance.

When are benefits due?

She pays if one of the conditions agreed in the contract is met. In general, however, if you suffer from an ongoing disability due to an accident that is likely to last for more than three years and no improvement is foreseeable.

When is the benefit paid?

As soon as all examinations have been completed and the degree of disability has been determined, the insurer has a certain period of time (usually 2 weeks) to provide the agreed service. Since this can drag on for a few months, it makes sense to include a death benefit, as this amount can be paid out to you earlier if necessary (yes, even if you are still alive, even if that sounds contradictory).

Do I have worldwide insurance coverage?

With private accident insurance, insurance cover applies around the clock, while statutory accident insurance only provides protection for occupational accidents, commuting accidents or occupational diseases.

How much does private accident insurance cost?

It’s a very individual matter. You can find out specifically with the help of our comparison calculator. It is important to know here: Now that you have read the article you know where you can save with a clear conscience and where you shouldn’t.

Who pays the contributions?

The contributions to the statutory accident insurance are financed 100% by your employer. In contrast, you finance private accident insurance alone.

Can I just cancel a contract with you?

Depending on the term of the contract, you can cancel every one, three or five years. We recommend that you choose a term of one year so that you are more flexible in case of doubt if something changes in your life in this regard.