Lost the key to your apartment? Missed a car or pedestrian while riding your bike? Forgot to turn off the stove top or dropped your friend's new iPhone? Already a high damage can occur. To be at least financially covered for such problems, you can take out personal liability insurance.
Private liability insurance is not legally required for international students, but in Germany anyone can be held legally liable for damages he or she causes to third parties. It is therefore common to take out such insurance to insure against claims arising from damage caused unintentionally. The person causing the damage is liable with his or her salary, savings or even property. It is one of the most important and at the same time cheapest voluntary insurance options in Germany, which protects you against claims for damages directed against you. Approximately 85% of all Germans have private liability insurance.