Accident insurance costs: your guide to optimal cover and fair premiums
31.03.25
12
Minutes
Katrin Straub
Managing Director at nextsure
An accident can change a life in an instant and lead to significant financial strain. The cost of personal accident insurance is an important consideration. Find out here how the premiums are made up and how to find the right cover for your individual circumstances.
The topic in brief and concise terms
The cost of personal accident insurance varies greatly and depends on factors such as age, occupation, sum insured, progression and additional benefits; premiums start at around three euros per month for children and can be significantly higher for adults and seniors.
An adequate sum insured (often five to six times gross annual income) and suitable progression (e.g. 225 to 350 per cent) are crucial for sufficient cover, but they also affect the premium amount.
By comparing tariffs, choosing annual payment, and forgoing unnecessary additional benefits, costs can often be optimised without significantly reducing insurance cover.
Accident insurance costs at a glance
Premiums for private accident insurance can start at just a few euros per month, for example from three euros for children. For adults, the monthly costs are often between seven and 22 euros. Due to a statistically higher risk of accidents, seniors must expect premiums of between ten and 38 euros per month. These figures are initial guide values and can vary significantly depending on the selected level of cover. The exact accident insurance costs depend on many personal factors.
These factors largely determine your contribution amount
Occupation and associated risks
Insurers classify professions into different risk groups, which directly affects the cost of personal accident insurance. A person in an office job usually pays less than, for example, a roofer, who is exposed to a higher risk of accidents; here, premiums can be up to 25 per cent higher. Extremely high-risk professions such as stunt performers are not insured by some companies at all.
Selected sum insured and progression scale
The sum insured, also known as the basic sum, is the amount used as the basis for calculating the disability benefit. Experts often recommend five to six times the gross annual income, but at least 200,000 euros. A higher sum leads to higher premiums. The progression ensures that in cases of severe disability the payout increases disproportionately – a progression of 350 per cent triples the benefit in the event of full disability. This increases the premium, but offers better protection in the event of serious accident consequences. Benefits of personal accident insurance are therefore highly customisable.
Age of the insured person and current stage of life
Age plays an important role in calculating personal accident insurance costs. For children, tariffs are usually cheaper, as statistically fewer serious accidents occur; monthly premiums here can be between three and eight euros. As age increases, especially in later life from around 65 onwards, premiums rise again, as the risk of falls and other accidents increases. For a 70-year-old pensioner, the cost can therefore be between ten and 38 euros per month.
Additional modules and extended scope of cover
In addition to the pure disability benefit, numerous optional extras can affect the cost. These include, for example, an accident pension, which is paid monthly from a certain level of disability, or hospital daily allowance. Cover for cosmetic operations or recovery costs are also popular, but premium-increasing options. Many policyholders underestimate the additional cost of up to 30 per cent for extensive add-on packages.
Cost examples: What policyholders pay in practice
To make accident insurance costs more tangible, here are some typical scenarios:
A 30-year-old office employee with a base disability sum insured of EUR 100,000 and a progression of 225 per cent often pays between eight and 15 euros per month.
A family with two children (aged five and eight) insures the children with a base sum insured of EUR 75,000 each and 350 per cent progression; the parents (aged 35 and 38, commercial employees) choose a base sum insured of EUR 150,000 and 350 per cent progression. Here, the total costs may be between 25 and 45 euros per month.
A 45-year-old self-employed tradesperson with a higher occupational risk, a base sum insured of EUR 200,000, 500 per cent progression and an accident pension of EUR 1,000 per month must expect premiums from 40 euros upwards.
A 70-year-old pensioner who values assistance services such as meal delivery and accompaniment services pays around 20 to 40 euros per month for a suitable tariff with a base sum insured of EUR 50,000 and 225 per cent progression.
These examples illustrate the range of accident insurance costs in comparison and the need for an individual calculation.
Unlock savings potential: How to find affordable accident insurance
There are various ways to optimise the cost of your personal accident insurance without giving up important cover:
Compare quotations carefully: Use online comparison calculators to gain an overview of the market. Price differences for comparable benefits can amount to as much as 300 euros per year.
Choose the right sum insured and progression: Cover that is too high pushes up the price unnecessarily. Think carefully about the amount that would actually be needed in an emergency. A progression of 225 to 350 per cent is often a good compromise.
Avoid unnecessary additional benefits: Assess critically whether components such as a high hospital cash benefit are really necessary, or whether this risk may already be covered elsewhere.
Check family policies: For families with children, many insurers offer reduced terms or discounts of up to ten per cent when several people are insured under one policy. [2"ü"]
Take advantage of term discounts and annual payment: Longer policy terms and paying premiums annually rather than monthly can reduce costs by a few per cent. [5"ü"]
Our expert tip: Indexation in the policy does increase premiums and benefits each year, but sometimes a higher sum insured chosen from the outset without indexation is the more suitable and easier-to-plan long-term solution. [2""] The question of whether you need personal accident insurance should always be answered on an individual basis.
Expert knowledge: Understanding the limb tariff as the basis for benefits
The schedule of benefits is a central component of every accident insurance policy and determines which degree of disability is credited in the event of loss or functional impairment of certain body parts or sensory organs. [2""] For example, the loss of a thumb may be assessed at 20 per cent, and that of an arm at the shoulder joint at 70 per cent. These percentage values are then multiplied by the agreed basic disability sum to calculate the one-off capital payment. Pay attention to an improved schedule of benefits, as standard values are often modest and a better schedule can mean a significantly higher payout in the event of a claim. Many insurers offer tariffs with schedules of benefits that exceed market-standard recommendations and thus ensure better protection. The exact values can always be found in the policy terms and conditions of your contract. A clear schedule of benefits is crucial for the transparency of the private accident insurance for adults.
Tax aspects: claiming accident insurance contributions
The contributions to private accident insurance may, under certain conditions, be claimed for tax purposes. They count as “other precautionary expenses”. For employees and civil servants, the maximum amount here is EUR 1,900 per year; for self-employed persons who bear their health insurance contributions in full themselves, it is EUR 2,800. As these maximum amounts are often already exhausted by contributions to health and long-term care insurance, accident insurance does not always have a tax effect. However, it is possible to claim the portion of accident insurance that covers occupational risks as work-related expenses (for employees) or business expenses (for self-employed persons). Tax offices often accept a flat rate of 50 per cent of the contribution if a precise allocation is not possible. To deduct accident insurance for tax purposes can therefore reduce the financial burden.
The cost of personal accident insurance is an important, but not the only, deciding factor. Much more important is that the cover you choose matches your current life situation and your individual risks. Review your insurance cover regularly, therefore, at least every five years or after major life changes such as marriage, the birth of a child or taking up self-employment. A children's personal accident insurance has different priorities from a policy for seniors. Do not be guided by the cheapest offer; instead, look for a fair price-performance ratio and transparent terms. Professional advice can help you avoid pitfalls and find a policy that really pays out in an emergency. The question of whether personal accident insurance is compulsory is answered in the negative by the legislator, but financial protection is often essential.
More useful links
Wikipedia offers a comprehensive overview of statutory accident insurance in Germany.
The Federal Ministry of Labour and Social Affairs (BMAS) provides a detailed overview of statutory accident insurance.
The Federal Ministry of Labour and Social Affairs (BMAS) answers frequently asked questions about the benefits of statutory accident insurance.
The Federal Statistical Office (Destatis) provides current statistics on road traffic accidents in Germany.
The Federal Institute for Occupational Safety and Health (BAuA) offers a relevant publication on occupational safety and accident prevention.
The German Social Accident Insurance (DGUV) provides an important publication on accident insurance for download.
The German Social Accident Insurance (DGUV) provides detailed information on the calculation of contributions in statutory accident insurance.
The Consumer Advice Centre offers a critical assessment of the usefulness of private accident insurance.
Stiftung Warentest presents an independent test report on private accident insurance.
FAQ
How are accident insurance costs structured?
The costs are made up of various factors: the individual risk (age, occupation, hobbies), the desired sum insured, the benefit progression scale and selected additional benefits (e.g. accident pension, death benefit, hospital daily allowance). Each insurer calculates the individual premium on the basis of these factors.
Why is accident insurance for children often cheaper?
Plans for children are often cheaper, as children statistically suffer serious accidents resulting in high levels of disability less often than adults. The sums insured and benefit packages are often specifically tailored to the needs of children.
What impact does my profession have on accident insurance costs?
Your occupation has a significant impact. Insurers classify occupations into risk groups. People in low-risk occupations (e.g. office work) pay less than people in occupations with a higher risk of accidents (e.g. tradespeople, construction workers).
What does progression mean and how does it affect the costs?
Progression means that the insurance benefit increases disproportionately in relation to the agreed basic sum in the event of serious accidents. A high progression rate (e.g. 350 per cent or 500 per cent) offers better protection in the event of severe disability, but it also leads to higher premiums.
Can I deduct accident insurance contributions from my taxes?
Yes, contributions to private accident insurance can be claimed for tax purposes as other precautionary expenses, although only up to certain maximum amounts, which are often already reached by health and long-term care insurance contributions. The occupational portion may, if applicable, be deducted as employment expenses/business expenses.
How do I find affordable, good personal accident insurance?
Compare different plans and providers online. Pay attention not only to the price, but also to the benefits (in particular the disability scale, sum insured and progression). Consider which additional benefits you really need and whether paying annually allows for discounts.
