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Why do I have to take out insurance?

Taking out insurance does not mean that you are covered against the event (damage), it means that in the event of damage you will receive financial compensation or be reimbursed for repair costs or restoration costs. 

How do I make sure I'm not over-insured?

Through a regular insurance check with us as your insurance broker. 

Do you offer free consultations to new customers?

In principle, the first new customer consultation is always free. It is understood that as insurance brokers we receive commission payments for taking out insurance products. Furthermore, we are permitted to issue fees for various consulting activities, which can be found in the area of advice on insurance matters. This includes claims settlement for customers with third-party contracts or annual service fees for periodic insurance advice. 

How can insurance contracts be canceled?

Basically, insurance contracts are tied contracts. D.H. Customers can only terminate this at the end of the contractually agreed insurance period, subject to the notice period. In addition, there are special rights of termination after an insured event (loss) in accordance with Section 11 VersVG or if the insured risk ceases to exist in Section 68 VersVG. The insurer has a further right of termination if the customer's loss ratio is too high. 

How can optimal advice quality be ensured?

The insurance broker is subject to strict legal requirements. On the one hand, he must ensure in which capacity he acts as a consultant, i.e. as an insurance broker; on the other hand, the insurance broker, in contrast to the insurance agent, is subject to the Broker Act. Sections 26 - 28 of the Brokerage Act regulate exactly how the insurance broker must act on behalf of the customer on the free insurance market. Section 28 (3) of the Brokers Act notes the “Best Advice Principle” and it states that the insurance broker is obliged to create an optimal insurance concept according to the wishes and needs of the customer after carrying out a risk analysis. In addition, the insurance broker must also check the insurer's genetics for the customer. This ensures that the customer is not referred to an insurance company that cannot provide the optimal coverage according to the risk analysis. 

What distinguishes the insurance broker from insurance agents

The insurance agent is a sales partner of insurance products contracted with an insurance company. Therefore, it is very limited in terms of optimal advice. He can only use the product range provided by those insurance companies with which the insurance agent has a contractual sales agreement. In contrast to the insurance broker, who acts completely freely and unbound on the insurance market. He only has brokerage agreements with all insurers on the market, but is not obliged to offer the products to customers to any insurer. Therefore, the insurance broker, as the only contact on the market, can insure the customer according to their wishes and needs or present optimal solution concepts. 

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