The term “Selbstbeteiligung” translates to “deductible” in English and refers to the amount that insured individuals must pay out of pocket when a claim is made on their insurance policy.
What is “Selbstbeteiligung”?
Selbstbeteiligung is a financial concept commonly associated with various types of insurance policies in Germany. It represents the portion of a claim that the policyholder is responsible for paying before the insurance company covers the remaining costs. This concept is particularly relevant in the context of health, auto, and rental car insurance, where it serves as a cost-sharing mechanism designed to reduce frivolous claims and encourage careful behavior among the insured[1][2][3][4].
More information about “Selbstbeteiligung”
The amount of the Selbstbeteiligung can vary depending on the insurance policy and the insurer. It is typically set at the time of signing the insurance contract. Higher deductibles usually result in lower insurance premiums, as they reduce the insurer’s risk. However, policyholders should carefully consider their ability to pay the deductible in case of a claim[1][2][3][4].
Related to “Selbstbeteiligung”
Here are some additional terms that are related to Selbstbeteiligung:
- TeilkaskoTeilkasko, literally translated as "partial cover" in English, is a type of car insurance in Germany that provides coverage for...: A type of partial coverage car insurance that may include a deductible for certain types of damage[13].
- Vollkasko: Comprehensive car insurance that often comes with a deductible and covers a wider range of damages than Teilkasko[13][14].
- HaftpflichtversicherungHaftpflichtversicherung, or liability insurance in English, is a type of insurance that provides coverage for individuals against claims resulting from...: Liability insurance, which typically does not involve a deductible, as it covers damages that the policyholder is liable to pay to third parties[4].
- RechtsschutzversicherungThe term "Rechtsschutzversicherung" translates to "legal protection insurance" in English. What is "Rechtsschutzversicherung"? Rechtsschutzversicherung is a type of insurance in...: Legal expenses insurance, which may include a deductible to discourage the overuse of legal services[4].
In conclusion, Selbstbeteiligung is an integral part of many insurance policies in Germany, influencing both the cost of premiums and the behavior of the insured.