BaFin - Navigation & Service

Stand:updated on 18.01.2024 | Topic Consumer protection Insurance products

You can generally only tell if you are well-insured after a long time, or when you have to make a claim. You should therefore think carefully about which coverage is right for you, regardless of whether you want to take out a new policy or are reviewing your existing contracts. We explain here how the different types of insurance work and what you should bear in mind before making a decision.

Ac­ci­dent in­sur­ance

Statutory accident insurance only provides coverage for accidents that happen at school, at your place of work or vocational training, or on the way to these places. It does not provide coverage for accidents that happen in your free time, for example when you are walking your dog or cleaning your windows at home. This is where private accident insurance comes in.

More: Accident insurance …

Build­ings in­sur­ance

Buildings insurance pays for damage to buildings when caused by an insured risk (e.g. fire, tap water, storm/hail).

More: Buildings insurance …

Cy­ber in­sur­ance

Cyber insurance is a way you can protect yourself against the risks involved in using the Internet. The protection this insurance offers can vary, depending on the provider and the premium rate.

More: Cyber insurance …

Health in­sur­ance

If you have private health insurance or if you are thinking about switching to the private health insurance system, you can find information here. For enquiries regarding statutory health insurance, please contact the Federal Ministry of Health (Bundesgesundheitsministerium – BMG) or the Federal Office for Social Security (Bundesamt für Soziale Sicherung– BAS). The Federal Insurance Office supervises statutory health insurers, while BaFin supervises private health insurers.

More: Health insurance …

Home con­tents in­sur­ance

Your home contents are all items found in a household that are used to furnish the same or intended to be used or consumed for private purposes. That also includes cash and valuables. Rule of thumb: All things that you take with you or would take with you when you move.

More: Home contents insurance …

Le­gal ex­pens­es in­sur­ance

A legal expenses insurer ensures that the policyholder can safeguard his or her legal interests and covers the expenses required for this purpose.

More: Legal expenses insurance …

Life in­sur­ance

Life insurance provides cover related to the insured person’s biometric risks such as death, long life, occupational incapacity and invalidity. Here you will find information on term life insurance and endowment insurance.

More: Life insurance …

Mo­tor ve­hi­cle in­sur­ance

In Germany, motor vehicles cannot be registered without motor vehicle third-party liability insurance (Kfz-Haftpflichtversicherung). This insurance provides coverage when the insured vehicle causes damage to others. In contrast, partially and fully comprehensive insurance, sometimes also referred to as casco insurance, are not mandatory. This kind of insurance covers damage to the policyholder’s own vehicle. Partially comprehensive motor vehicle insurance (Teilkaskoversicherung) provides cover against theft, hailstorm damage and broken glass, for example, whilst fully comprehensive motor vehicle insurance (Vollkaskoversicherung) also provides coverage for accidents that are the policyholder’s own fault, and for damage as a result of vandalism.

More: Motor vehicle insurance …

Pen­sion in­sur­ance

If you think your statutory pension will not be enough to maintain your standard of living in the long term, you can support yourself with private pension insurance.

More: Pension insurance …

Resid­u­al debt in­sur­ance

Residual debt insurance is a special form of term life insurance by which you can secure the repayment of a loan should you die during the term of the policy. In this way you protect your heirs. Residual debt insurance policies can be taken out with a constant or declining sum insured.

More: Residual debt insurance …

Third-par­ty li­a­bil­i­ty in­sur­ance

Although third-party liability insurance is not mandatory, it is advisable for everyone to have it. Even a minor accident can result in considerable damage for which the person responsible may be fully liable.

More: Third-party liability insurance …

Trav­el in­sur­ance

The term “travel insurance” covers all insurance offered in connection with a trip. Some examples are: travel cancellation insurance, travel baggage insurance, foreign travel health insurance and travel accident insurance.

More: Travel insurance …

Did you find this article helpful?

We appreciate your feedback

Your feedback helps us to continuously improve the website and to keep it up to date. If you have any questions and would like us to contact you, please use our contact form. Please send any disclosures about actual or suspected violations of supervisory provisions to our contact point for whistleblowers.

We appreciate your feedback

* Mandatory field