Basic questions and answers on private accident insurance

How does statutory accident insurance differ from private accident insurance? 

The German Social Accident Insurance applies to accidents that occur during work or on the way out or back to work. Self-employed persons can actively join the Employer's Liability Insurance Association in order to enjoy the same insurance cover. In the case of children without private accident insurance, the Social Accident Insurance cover is used for this, but this does not always apply or only offers basic care. 

Conversely, this means that this insurance does not apply in leisure time. However, 70% of accidents do not occur at work. So what happens if a serious accident with protracted consequences occurs during leisure time?

Treatment costs are initially covered by health insurance. If, however, long-term physical damage occurs, such as loss of walking ability, only private accident insurance can help to pay for high costs for conversions in one's own home or special therapies.

Why should I take out accident insurance, especially in equestrian sports?

"We are involved in a hobby or profession that entails certain risks," says Henrik Finke. "We all know it: the rider often falls off the horse and nothing happens. Unfortunately, many riders know of accidents that did not go off lightly. In particular, if the horse is afraid, there is a high risk that the rider will suffer severe neck, head or neck injuries in the event of a fall!

When does private accident insurance cover?

The private accident insurance is an additional insurance that can be taken out individually. In general, private accident insurance takes effect when an accident occurs and a permanent impairment of the body has occurred. The insurer refers to this as disability. When exactly is a benefit paid?

Disability does not only apply to particularly severe injuries such as paraplegia or amputation, but also to the inability of a toe or finger to function. The insurers consult a so-called link tax, in which each part of the body is indicated with a certain percentage. The insurers then already pay invalidity from the first percent.

The private accident insurance of LVM

The LVM is particularly active in equestrian sports and ensures that the horse and rider always enjoy tailor-made insurance cover. The LVM accident insurance tariff is divided into a basic module and three further components in order to be able to adjust the insurance cover individually.

The Basic module comprises the payment of high one-off disability benefits, regardless of whether the accident occurred during leisure time, during work or at home or abroad. It is necessary to wait for an ongoing therapy procedure to determine whether permanent damage will remain. In order to be able to help customers quickly, especially in serious cases, LVM provides immediate reconstruction assistance. This means that any foreseeable, necessary conversions to a house, apartment or motor vehicle can be carried out as quickly as possible.

The supplementary modules Reha, Pension and Plus can be selected by the policyholder as additional protection. Henrik Finke recommends supplementing the Rehab module, especially for riders. This module makes it possible to request a Reha Manager immediately after an accident with certain injuries - including cruciate ligament ruptures, hand or ankle fractures, which are already a prerequisite.

"In equestrian sports, injuries can occur that do not necessarily lead to permanent consequences. Nevertheless, the healing process can take a long time depending on the injury. Especially when the best doctors are not available for necessary operations. This is where LVM's service comes in."

LVM thus pursues the goal of avoiding long-term physical damage to the persons affected by optimal support. The rehabilitation managers ensure that the injured person receives the best possible treatment. If necessary, they organise the transfer to a special clinic. They also take care of administrative matters, such as obtaining cost commitments from health insurance companies or other institutions. Of course, they are also available to select the right rehabilitation facility after acute treatment and give advice on outpatient therapies. The customer can concentrate completely on recovery.

What special services can the LVM agency Henrik Finke offer me as a rider?

As a rider, LVM offers you framework discounts on equestrian sports associations and agricultural rates. This means that riders can get both suitable and favourable rates. At the same time, Henrik Finke is a consultant who knows the equestrian sport and can assess situations skilfully.

Application example: Complicated arm fracture in the shoulder joint after falling off a horse

A rider has fallen off his own horse in his free time and breaks his arm in the shoulder joint. The costs of treatment are usually covered by the statutory or private health insurance of the injured rider. 

However, if problems remain after completion of the treatment, e.g. in the form of movement restrictions, the statutory or private health insurance does not pay any compensation. Other statutory institutions do not pay either.

"I advise each of my customers to contact me immediately in the event of a claim so that I can take the necessary steps to guarantee you the best possible treatment." 

The aim of LVM accident insurance is to avoid long-term damage through targeted treatment and professional support from the rehabilitation manager and to restore your old state of health.