What You Need & What's Bullsh*t - The Insurance Madness of Germany

when you have just moved to germany people  will undoubtfully ask you do you have life  

insurance health insurance what about insurance  for your washing machine tv toaster no why not  

and you ask yourself what the hell is  wrong with these people but don't worry  

after this video you will know why germans love  insurance is almost more than they love beer  

and which ones you really need and which ones are  total you won't make video about insurance you're  

stupid or what we all are if you take the wrong  one i only have one insurance always have with me

hmm sorry bro i'm pretty sure that's illegal  here you know what insurance company make with  

your money here biggest insurer in germany allianz  they built tower like that one sit on top and make  

that may be true and this is exactly why we  need to make this video right so they can't  

build as many useless towers anymore let's  get started alright the average german has  

eight different insurances  can you guess how many i have  

you guessed right i'm not a typical german all  the germans watching this right now are going like  

you crazy in germany we have two types of  insurances the mandatory ones and the voluntary  

ones the mandatory insurances in germany which  everybody has to have is the health insurance  

care insurance unemployment insurance and  pension insurance if you are an employee  

you cannot option out of them and let me tell you  those insurances add up to a lot of money each  

year they don't have a fixed fee but a relative  to your monthly salary and taken directly from it  

without the money ever arriving in your bank  account so let's say your salary is three and  

a half thousand euro per month which is around the  national average you would have to pay more than  

700 euro in insurance fees per month if you sum  it up that's eight and a half thousand euro a year  

that's a lot of money but before you scream  we want the pension insurance to be optional  

just hear me out if the state wouldn't make these  insurances mandatory and let's say something would  

happen to you and you can't work anymore for the  rest of your life the german state would have to  

pay for all your living expenses and they will  because we are a social state are you communist  

are you okay no i'm not a communist i swear yeah  in germany if you can't work or even if you don't  

want to work the state doesn't let you starve to  death they give you a flat a health insurance and  

450 euro pocket money each month sounds pretty  communist if you ask me if you want to know more  

about a great welfare system in germany go watch  this video right here it's already a couple of  

years old but still one of my all-time favorites  so to finance this whole welfare state system  

the country needs to have a lot of mandatory  and high insurances to cover everybody's needs  

even if you don't want to because you don't  know what's best for you the government does

but lucky for me there are a few loopholes you  only have to pay all four mandatory insurances  

if you are an employee and because i'm a  youtuber which is basically a freelancer  

i don't have to pay unemployment insurance i guess  because they think i'm already kind of unemployed  

and no pension insurance which is awesome  and saves me a big chunk of money each month  

i can buy some more sweets with bitcoin with  and not having to lose everything to inflation  

so i told you earlier that germans have  on average eight insurances four we did  

cover already with the mandatory ones but then  there's another four they just get by themselves  

yeah i don't get it either but anyway which  ones are they and are they making any sense  

for you maybe the most common one is the  Haftpflichtversicherung beautiful german word  

i know the Haftpflichtversicherung is a liability  insurance which 66 of all people here have that  

means if you break something from someone else  not on purpose of course they will cover for  

you i don't know a single german who doesn't  have that one even i have it but i only have it  

because it's mandatory to have if you want to fly  a drone here and i love flying my drone you know  

and i'm a good citizen who obeys the law okay a  liability insurance costs around 5 euro per month  

and will save you a lot of money if you're a  clumsy person or just very unlucky if you're  

one of those people you should definitely get  one alright before we move on i want to talk  

about something that you need much more than  any of the following insurances and that is  

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money back guarantee you're welcome okay back  to insurances the second most common one which  

65 percent of people have is the kfz-versicherung  the car insurance but in germany if you have a car  

you have to have car insurance so it's not really  voluntary but having a car is so depending on what  

kind of car you have insurance ranges from only  10 euro a month to more than 100 euro per month  

it really depends anyway next on the list  with 58 percent of people being insured in  

is the hausratsversicherung household insurance  in english this one ensures all the stuff that  

is in your flat or house but not the flat itself  so let's say someone breaks in while you're on  

holiday and takes all your stuff or there's  a fire and your furniture gets damaged this  

insurance will cover those things so in my opinion  this one makes only sense if you have a lot of  

expensive furniture or electronics at home  or you generally live in a bad neighborhood  

with a lot of break-ins happening you  can get one from already 7 euro per month  

but if you don't have many valuables at  home it's not really worth getting it  

okay next we have with 41 percent of people  being insured in is the Rechtsschutzversicherung

which is a legal expense insurance germans love to  sue people not nearly as much as americans love it  

but they do for the stupidest reasons your trees  ranging two centimeters into my property that's  

against the law i'm not gonna ask you to cut it  i'm gonna sue the [ __ ] out of you and because  

a lot of germans are like that the other germans  are scared to become poor and they're all getting  

the Rechtsschutzversicherung legal disputes here  are quite expensive the fees for the lawyers the  

court hearings ranging sometimes over many years  can quickly add up to tens of thousands of euro  

there isn't one that covers every aspect of life  but they are divided into four main categories of  

work living traffic and personal affairs so you  would have to get at least four different ones  

to cover it all which will set you back at least  40 euro per month which is quite expensive if you  

have it for a couple of years of course you can  never foresee what's going to happen but in my  

opinion it only really makes sense if you see some  legal trouble somewhere brewing in the horizon  

then it will save you a lot of money and you can  say i'm gonna sue the [ __ ] out of this city  

because they don't only help  you when you are being sued  

but also if you want to sue someone justifiably of  course right moving on to the Unfallversicherung  

literally accident insurance to be honest i never  heard of this insurance before making this video  

but 38 of germans think it's worth having  and it all makes sense german people are big  

worriers and all these insurances at least give  them the feeling of security this one does exactly  

what it sounds like if you are unlucky enough to  get in any form of accident and you lose a leg for  

example you will get a monetary compensation  for it also if the accident happens in a  

remote place and you have to be rescued this  insurance will cover all the rising expenses  

it's kind of a morbid insurance but if you really  do lose a leg you may need the compensation money  

to refurnish your apartment accustomed to your  new needs for a normal person i wouldn't say  

this insurance makes much sense but if you  are an adrenaline junkie who loves to do some  

form of extreme sports or you just ride your bike  a lot through the city it may not be the worst  

idea and they already start from 7 euro per month  the last one on the list is the Lebensversicherung  

with 29 of germans having it  which is a super high number  

which i would have never expected no wonder those  insurance companies can build the stars everywhere  

life insurances have gotten a very bad reputation  over the last decade and that for a very good  

reason they're expensive complicated and your  return of investment is basically non-existent at  

least for the traditional ones where you not only  ensure your life but also save up an extra pension  

these ones make no sense at all nowadays due to  low interest rates and high inflation you will  

lose money with them not make some though the ones  only ensuring your life without the saving apart  

may still make sense for some people that are  doing life-threatening activities on a regular  

basis and simultaneously have a big family  to provide for but for the average joe a life  

insurance is a complete waste of money trust  me doesn't matter how many insurances you have  

you will never know what's going to happen life  is unpredictable you can't be insured against  

everything although i'm sure some germans would  if they could but what you can be certain about  

is that the moment you want to make a  claim at one of those insurance companies  

they will try to look for any loophole they can  find not to pay you and then you paid all those  

insurance fees all those years for nothing and  the people at the top of the tower keep making

i'm really curious now is there any other country  where people are as crazy about insurances  

as germans i really doubt it what do you say  ivan are you getting an insurance yourself now  

this all too complicated and for [ __ ] i have  best insurance right here it's called fear one  

time fee only always works plus you look  cool thanks for watching those with danya