Insurance questions (auto and home)

3POSTS

6 years ago

Hello everyone! My wife and I moved from Houston, TX USA to Mannheim, Germany earlier this year - it's been great so far! I am on a 4 year assignment for work, then we will move back (somewhere) in the US. So, we still own our home in Houston, TX, but we sold our cars. It's pretty liberating and awesome to not have a car and still be able to get around.

Question 1: Auto Insurance
As mentioned, we sold our cars before moving to Germany, and haven't (and don't plan to) purchased cars here. However, I maintained my US auto insurance through Progressive, since I may drive rental cars or my parents' car when visiting the US during holidays. I really want to cancel the insurance, but I kept it to ensure I have liability coverage (accident coverage can be achieved with credit cards I have, or at worst case, including it in a car rental agreement). Is there a way I can cancel my expensive Progressive insurance but still somehow be covered with some sort of liability insurance in case I drive a car in the US or abroad?

Question 2: Home Insurance
As mentioned, we still have our home in Houston, TX. We have tenants renting the home. The tenants have home/renter insurance on the home. However, I maintained my same exact home insurance converage on the home. Is there a better / cheaper insurance coverage for a home you have tenants living in who have their own coverage? I know it is wise to still protect myself with insurance on the home, but are there better strategies for this to save money?

Thanks for the help!!!

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TominStuttgart Germany Expert

2821POSTS

6 years ago

Sorry but I don't think you have any options in Germany with German insurance to cover homes in the US. You would have to do that through insurance companies back home. If you go to the States for a visit, you can look to book rental cars from most of the major US companies from Germany. And German law demands that a proper level of insurance is included, which is of course a nasty trick many US companies try to pull; claiming at pick-up that they "don't know" if it is really covered and you have to opt for an expensive insurance on the spot. The bottom line is if you will get a better price booking from Germany or locally. For offers from Germany you just need to look online. For coverage on say your parents' car, I would think you need to ask their insurance company if and under what conditions you would/could be covered. I don’t think you could get such coverage in such a situation from Germany.

Another consideration is credit cards. In Germany it is not uncommon to have one but certainly not to have multiple ones like most Americans. And different cards have different benefits. I have a Master card gold over Commerzbank and know that I have a good travel insurance that covers medical emergencies or even getting flown back to Germany if needed due to accident. I don’t think my card covers any car insurance for rental or other situations. German health insurance will cover you in Germany and for emergency care in the entire EU but not elsewhere, so one should make sure they have a travel health and accident insurance. It is very cheap from here and can save one a fortune in an emergency.