As a rule, all employees, apprentices, pupils, students or farmers are covered by statutory accident insurance. The contributions of this insurance are taken over by the employer. The insurance covers only accidents that occur during working hours or on the way to and from work.
In addition, occupational diseases are covered. A statutory accident insurance usually does not have to be applied for or terminated. As soon as you take up employment or belong to the other groups mentioned, you are automatically protected by the statutory accident insurance.
A disadvantage of the statutory accident insurance is the limited scope of services, which can not be extended by the insured.
The private accident insurance extends the insurance coverage of the statutory accident insurance. The scope of insurance can be configured individually by the policyholder. Thus accidents at home, at leisure or on vacation can be covered by the policy.
In addition, the insurance cover can be used worldwide. The insurer will take over the claims settlement for all accidents that are specified in the policy. A disadvantage of the private accident insurance is that the tariffs are always set individually and staggered depending on the scope of services.
Who wants to have a higher performance, belongs to a vulnerable professional group or is older, must pay more.
Accident insurance is important because it protects insured persons from high costs that may be incurred as a result of an accident. The statutory accident insurance also protects employers if employees are injured while working.
Private accident insurance protection is particularly important for those groups in which the risk of an accident in the private sector is very high. These include extreme athletes, but also seniors.
If you want to cancel your accident insurance, you can rely on two different rights. If you exercise your ordinary right of termination, you comply with the period of notice specified in the policy.
If you take advantage of your extraordinary termination right, certain conditions must be met for you to be able to terminate your insurance contract regardless of the notice period.
You have the right to extraordinarily cancel the accident insurance if the insurer increases the premium without improving the benefits. The same applies even if you have filed a claim and the insurance has regulated the damage. In these cases, you do not have to adhere to a specific notice period.
Please note that the insurance company also has the right to extraordinary termination. The insurance can enforce this right if you do not comply with the payment of insurance premiums or if you have given false information on health issues.
Prerequisite for termination after outstanding contributions is a reminder. In the event of an extraordinary termination by the insurer, you usually have no chance to appeal. However, there is the possibility to ask the insurance company for a so-called “cancellation reversal”. In this case, the insurance company would allow you to pronounce the termination. After that you would have better chances to find a new insurance. Because many insurers are hesitant if an applicant has previously been terminated by another insurance company.
If you want to properly cancel your accident insurance, you must adhere to the three-month notice period. Most insurance contracts have a term of one year. Thus, you must cancel the insurance properly at least three months before the expiration of the contract. Termination must be in writing.
A termination is absolutely necessary, because otherwise the contract usually extends for another year.
For insurance contracts with a term of more than three years, you can cancel after three years and you do not have to wait until three months before the end of your fourth or fifth year of insurance. The legislator has granted this right to policyholders.
As with any insurance, after a comparison you can see that there are other providers with better services or cheaper policies. In these cases, a termination may be worthwhile.
If the policyholder dies, his accident insurance automatically expires. If the accident insurance for several persons was completed, the survivors have the opportunity to take over the contract completely. In many cases it is worthwhile, for example, for spouses to switch to a cheaper single rate. However, it is also possible to terminate accident insurance accidentally after the death of an insurance policyholder.
If you want to cancel the private accident insurance, a informal letter to the insurance with a request to terminate the policy is sufficient. It is important that the termination takes place in written form by mail or e-mail. It is advisable to send the notice in writing by registered letter to the insurance company. This will give you proof that the insurer has received your letter of termination.
Regardless of the termination of private accident insurance, you are still covered by the statutory accident insurance.
After you have terminated your old private accident insurance, you can switch to a new private accident insurance. It is advisable to send the notice only if you have already taken out a new accident insurance.
A private accident insurance does not necessarily have to be terminated. Often there is also the possibility to indemnify them.
If the private accident insurance is exempt, policyholders will not have to pay any contributions for a fixed period. However, there is no insurance coverage for the non-contributory period. For the insured have the opportunity, after the exemption to continue their insurance contract seamlessly again.
An exemption can be useful if you have unexpectedly become unemployed and the contributions for the accident insurance are too high a financial burden.
It is best to check before concluding the contract whether an exemption is possible and what conditions apply.
Selling an accident insurance is another way to suspend a contract or to terminate it. However, only insured people who have completed a so-called “accident insurance with premium refunds” have the opportunity to sell. A conventional private accident insurance can not be sold.
This is a combination of private accident insurance and endowment life insurance. Policyholders pay a higher monthly contribution, part of which is used for life insurance and the other part for the accident insurance premium. After the end of the term of the combined insurance, the policyholder receives the capital saved.
Disadvantages of accident insurance with premium refunds are that taxes have to be paid for the capital gains of the insurance company. In addition, policyholders have to expect a sale of the insurance with high deductions.
The advantage of selling the accident insurance is that capital is released in the event of a major financial shortage.
A private accident insurance can be completed at any time in addition to your statutory accident insurance. Whether a change or a termination is worthwhile, you have to decide on the basis of your individual circumstances.
If you are interested in a change of accident insurance or a new contract, you should definitely compare the offers of different insurance companies.
Use this best the our insurance comparison. There you can compare the terms of each insurer directly with each other.