Choosing the right partner: How to find the largest and best insurance brokers in Germany
7 May 2025
7
Minutes
Katrin Straub
CEO at nextsure
Finding the right insurance coverage can be complex. Learn how Germany's largest insurance brokers operate and how to find the ideal partner for your protection. This article highlights key criteria and provides practical tips.
The topic in brief and concise terms
Insurance brokers work independently and on behalf of the client, not for a specific insurance company.
The largest insurance brokers in Germany are often distinguished by their comprehensive market knowledge and specialized advisory teams that serve thousands of clients.
Important selection criteria include qualification, transparency, customer orientation, and a comprehensible advisory process with at least one detailed conversation.
Understanding Insurance Brokers: Independent Advice in Focus
An insurance broker acts as an independent expert and your fiduciary agent. Unlike insurance agents, who offer the products of a single company, a broker works on your behalf. Their main task is to find the optimal solution for you from a wide range of providers and tariffs, often from over one hundred companies; an important consideration when you are considering which insurance one needs. In Germany, there were over forty-six thousand registered insurance brokers at the end of 2019.
The largest insurance brokers in Germany often have a broad market overview and specialised departments. Some provide numerous clients with services at many locations with over fifteen hundred employees. Their size often allows access to exclusive terms or special coverage concepts. Independence is a crucial factor for needs-based advice, which is appreciated by nine out of ten customers. This structure paves the way for an individual needs analysis.
Finding the right estate agent: Criteria for your decision
Choosing the right insurance broker requires care and some consideration. Look for proven qualifications and a transparent working method of the broker. A good broker takes time to thoroughly analyze your individual situation and needs, often in an initial meeting of at least one hour. He will not immediately present you with a universal solution, but will develop customized proposals, which is particularly important if you are considering whether to amend old insurance contracts.
An important quality characteristic is customer orientation, which is also reflected in positive reviews. Ask about the number of insurance companies the broker collaborates with; on average, there are sixty to seventy. The preparation of a consultation protocol is legally required and serves to protect you. This document records your wishes and the broker's recommendations. Careful selection leads to a trusting and long-term partnership.
Here are some steps to selecting the right insurance broker:
Check the broker's initial information for status and registration (often found in the website's imprint).
Seek recommendations from friends or family who have already had good experiences.
Look for a professional online presence and transparent communication about services.
Ask questions in the initial meeting about working methods, specialization, and costs or remuneration (usually commission).
Do not let yourself be pressured; good advice requires time for your decision.
These criteria help you identify a competent partner who represents your interests. Next, we will look at the legal framework more closely.
Optimally utilize legal frameworks and expert knowledge
Insurance brokers are subject to clear legal regulations that protect your rights as a customer. The Insurance Contracts Act (VVG) and the Trade Regulation Act (§ 34d GewO) form the legal basis. Brokers must provide proof of professional indemnity insurance with sufficient coverage. They are required to document their advice comprehensively (§ 66 VVG). This serves your safety and traceability.
A judgement by the Federal Court of Justice (BGH) from the twenty-second of May nineteen eighty-five (Case No.: IVa ZR 190/83) confirms the position of the broker as the fiduciary of the customer. This means he must represent your interests to the best of his ability. Ensure that the broker clearly explains the reasons for his recommendations. This is a hallmark of professional conduct. Knowledge of these fundamentals strengthens your position.
Our expert tip: Clarify in advance whether the broker is specialised in certain niches that are relevant to you. This could concern, for example, health and care or cyber insurance. Such specialisation can provide significant added value, as the broker has deeper product knowledge and market insights in this segment. Also, ask about the handling in case of a claim; a good broker actively supports you in dealing with the insurer. This proactive approach often distinguishes the very good from the good brokers.
Digital Tools and Niche Focus: Modern Brokerage Services
Digitalisation is also changing the work of Germany's largest insurance brokers. Many offer online consultations and digital contract management, which increases accessibility and efficiency for around eighty per cent of digitally savvy customers. This allows quick access to your documents, such as the insurance policy, and uncomplicated communication. Nevertheless, personal advice often remains essential for complex matters, which account for about thirty per cent of cases.
Some brokers focus strongly on niche products to stand out from the crowd. This can be advantageous if you want to insure specific risks, for example in the area of cars and mobility or for rare hobbies worth over ten thousand euros. A specialised broker often knows the specific pitfalls and best providers for these niches better than a generalist. Nextsure, for example, focuses on digital niche insurance and thereby offers tailored solutions. The combination of digital efficiency and professional specialisation is a growing trend that already over twenty per cent of brokers are following.
Long-term partnership: Dynamically design insurance coverage
A good insurance broker is more than just a mediator; they are a long-term partner for an average of seven to ten years. Your life circumstances change – marriage, children, job changes, or purchasing a property are just a few examples. A competent broker will contact you regularly, at least every two to three years, to review and adjust your insurance coverage. This is particularly important if a change of employer is imminent and insurance needs to be reported.
Proactive support ensures that you are neither underinsured nor overinsured. Many clients appreciate this continuous support, as they often lack the time or expertise to keep track of all four to five policies themselves. A high customer retention rate, often over ninety percent, speaks for the quality of this long-term care. This ongoing optimisation ensures your protection sustainably.
Important occasions for reviewing insurance coverage include:
Changes in marital status (marriage, divorce, birth of a child – affects approximately fifteen percent of clients annually).
Job changes (new job, self-employment, salary increase of more than ten percent).
Acquisition or sale of major assets (property, expensive vehicle over fifty thousand euros).
Changes in legal regulations or new court rulings (around one to two relevant changes per year).
Expiry of insurance contracts or reaching certain age limits (e.g., at sixty-five years old).
These regular reviews are a core component of good brokerage services. This lays the foundation for a permanently suitable protection.
Realize financial benefits through independent broker advice
Working with an independent insurance broker can also have financial benefits. With a broad market overview, a broker often finds tariffs with a better price-performance ratio than a direct inquiry with just one company. This can lead to savings of several hundred euros over the years, often up to five hundred euros annually for families. Additionally, a broker can help identify duplicate insurance policies and avoid unnecessary costs.
Some insurances are tax-deductible, which can reduce your annual tax burden by a certain percentage. A knowledgeable broker can point out these opportunities and help you compile the necessary documentation for the tax return and deductible insurances. Optimising insurance cover is therefore not only a question of security but also of financial efficiency. The right advice can be worth up to three months' premiums per year. This financial perspective completes the broker's profile.
Request an individual risk analysis now: Have your insurance situation checked for free and receive concrete optimisation proposals.
More useful links
Verbraucherzentrale Bundesverband provides a judgement that clarifies when insurance intermediaries can describe themselves as independent.
Statistisches Bundesamt provides structural data on financial and insurance services.
Statistisches Bundesamt informs in a press release about the number of insurance intermediaries in Germany.
Gesamtverband der Deutschen Versicherungswirtschaft offers an overview of statistics on the German insurance industry.
Gesamtverband der Deutschen Versicherungswirtschaft provides facts and figures on the German insurance industry for 2024 as a PDF.
Gesamtverband der Deutschen Versicherungswirtschaft supplies information on the shares of distribution channels in the new business of the insurance industry.
FAQ
What tasks does an insurance broker take on for me?
An insurance broker analyzes your insurance needs (often based on five to ten criteria), compares offers, arranges suitable contracts, manages them, and supports you in the event of a claim.
Am I legally protected as a customer when working with an insurance broker?
Yes, insurance brokers are liable for advisory errors and must prove they have professional liability insurance (often with coverage exceeding one million euros). Additionally, they are legally required to document the consultation.
How often should I review my insurance coverage with the broker?
A review is advisable during major life changes (e.g. marriage, job change, property purchase) or at least every two to three years to ensure that your coverage is still up to date.
Can an insurance broker also assist with specialised insurance like cyber insurance?
Yes, many brokers, especially those with specializations or the <strong>largest insurance brokers in Germany</strong>, also offer advice and mediation for niche products such as cyber insurance. nextsure is an example of a provider focusing on digital niche insurance with over ten specialized tariffs.
Will I incur any additional costs by hiring an insurance broker?
As a rule, no. The broker is compensated through a commission, which is already included in the insurance premium and usually ranges between five and fifteen percent. In rare cases, a fee may be charged for pure consulting services without a contract, but this must be agreed upon in advance.
What happens if my insurance broker ceases their activity?
In such a case, which occurs annually in less than five percent of brokers, your contract is usually taken over by another broker or directly by the insurance company. You also have the option to choose a new broker yourself.
