What are the legal foundations for insurance contracts in Germany?
June 11, 2022 | 40,00 EUR | answered by Yvonne Schmidt
Dear lawyer,
My name is Rolf Riedmüller and I have a question regarding insurance contracts in Germany. I am currently in a situation where I need to deal with various insurance offers and would like to learn more about the legal framework that applies to such contracts.
I am currently reviewing my existing insurances and want to ensure that I am adequately covered. I have come across various contract conditions that I would like to understand better. I am concerned that I may not be interpreting all conditions correctly and that this could cause problems in the event of a claim. That is why it is very important to me to know the legal framework for insurance contracts in Germany.
I have had some experiences with insurance companies and have not always been satisfied with the handling of claims. Therefore, I want to make sure that I am better informed in the future and know my rights as an insured person. I am worried that I may be in a difficult situation if I am not sufficiently informed.
Therefore, my specific question to you is: What legal framework applies to insurance contracts in Germany and how can I ensure that I uphold my rights as an insured person? Are there any specific clauses or regulations that I should pay particular attention to? And what options do I have if there are disagreements with my insurance company?
Thank you in advance for your support.
Best regards,
Rolf Riedmüller
Dear Mr. Riedmüller,
Thank you for your question regarding insurance contracts in Germany. It is understandable that you want to gather comprehensive information to ensure that you are optimally insured and aware of your rights as an policyholder. I am happy to provide you with an overview of the legal framework for insurance contracts in Germany.
Fundamental to insurance contracts in Germany is the Insurance Contract Act (VVG). This law regulates the legal relationship between policyholders and insurance companies and protects the interests of policyholders. It specifies the obligations and rights of both parties, as well as the contract conditions and the handling of claims.
As a policyholder, you should pay particular attention to the contract conditions outlined in the policy. This document contains all the important information regarding your insurance contract, such as the coverage amount, exclusions, deadlines, and cancellation options. It is important to carefully read and understand these conditions to avoid unpleasant surprises in the event of a claim.
If there are discrepancies with your insurance company, you have various options to protect your rights as a policyholder. Initially, you should try to engage in a conversation with your insurance company and seek an amicable resolution. If this is not possible, you can turn to the arbitration board for insurance or the BaFin (Federal Financial Supervisory Authority). In particularly complicated cases, you may also seek legal assistance and involve a lawyer.
Overall, it is important for policyholders to stay informed and be aware of their rights to ensure optimal protection in case of a claim. I hope this information is helpful to you and I am available for any further questions you may have.
Best regards,
Yvonne Schmidt
