The training year begins in the first federal states at the beginning of August. Many young people have an income for the first time. But that also brings with it responsibility and risks. WELT explains which insurances are a must – and which are not.
Many young people are now starting an apprenticeship. This is the first time they have their own income, which gives them completely new freedoms. But this also brings with it responsibility. Now it’s time to take care of their own personal security. However, there are a number of pitfalls lurking.
At the start of their training, insurance agents often approach trainees, luring them with cheap offers or pointing out supposed gaps in their insurance. “Trainees should not let this unsettle them,” says Sandra Klug from the Hamburg Consumer Advice Center. “Not every insurance policy is necessary.”
Health insurance is usually required. The contributions are paid directly by the employer, but trainees can choose the insurance company they want to use. Since the services provided by statutory health insurance companies are about 95 percent identical, it usually makes sense to simply choose the cheapest one.
The financial differences are often significant. With a training allowance of 1,066 euros per month – this was the average in 2023 according to the Federal Institute for Vocational Training – you can save almost 200 euros per year. Money that can be used for other insurances.
The first priority should always be personal liability insurance. This is vitally important because it covers you if the insured person causes damage to a third party. In the worst case scenario, such damage can run into the millions, and without insurance, lifelong ruin can be the result. Then financial freedom will be gone as quickly as it came.
Many trainees are still covered by their parents’ liability insurance. However, this only applies if they are not married and this is their first vocational training. The parents must also have such insurance themselves. “If this is not the case, trainees should definitely take out their own private liability insurance,” advises Klug. There are offers for trainees starting at 40 euros per year.
Private occupational disability insurance?
“It is also advisable to take out private occupational disability insurance, which kicks in when insured persons can no longer work at least 50 percent of the time in their last job due to illness or an accident,” says the consumer advocate. This is particularly relevant for those starting out in their careers, as they have no entitlement to support from the statutory pension insurance during the first few years in the job and only inadequate entitlement thereafter.
In general, young people benefit from the fact that the premiums for occupational disability insurance (BU) are usually very low for them. However, this is not always the case, as the costs are based on the insured person’s occupational group and their previous illnesses. If the circumstances are unfavorable, BU can simply become too expensive for some.
In this case, accident insurance may be an alternative: it only pays out in the event of an accident and therefore not, for example, if an employee becomes incapacitated due to illness. However, it is considerably cheaper and offers at least a certain level of protection. In general, however, accident insurance is one of the less important forms of insurance.
Home contents insurance is hardly worthwhile for trainees. Firstly, they need to have their own apartment, and secondly, the apartment should contain furnishings whose value makes insurance necessary. However, this is not the case with a few items from a furniture discounter.
