Choosing the right partner: How to find the largest and best insurance brokers in Germany
07.05.25
11
Minutes
Katrin Straub
Managing Director at nextsure
Finding the right insurance cover can be complex. Learn how Germany’s largest insurance brokers work and how to find the ideal partner for your cover. This article highlights key criteria and offers 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 characterised by comprehensive market knowledge and specialist advisory teams that serve thousands of customers.
Important selection criteria are qualifications, transparency, customer focus and a clear advisory process with at least one detailed consultation.
Understanding insurance brokers: independent advice in focus
An insurance broker acts as an independent expert and your fiduciary agent. Unlike insurance agents, who offer products from 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 thinking about which insurance you need. In Germany, there were over 46,000 registered insurance brokers at the end of 2019.
The largest insurance brokers in Germany often have a broad market overview and specialised departments. Some serve numerous customers at many locations with more than 1,500 employees. Their size often enables access to exclusive terms or special coverage concepts. Independence is a decisive factor here for needs-based advice, which is valued by nine out of ten customers. This structure paves the way for an individual needs analysis.
Finding the right broker: criteria for your decision
Choosing the right insurance broker requires care and some thought. Look for verifiable qualifications and a transparent way of working. A good broker takes the time to analyse your individual situation and needs in detail, often in an initial meeting lasting at least an hour. They will not immediately present a one-size-fits-all solution, but instead develop tailored suggestions, which is especially important if you are considering whether to amend old insurance contracts.
An important quality indicator is customer focus, which is also reflected in positive reviews. Ask how many insurance companies the broker works with; on average, it is sixty to seventy. Preparing a consultation record is required by law and serves to protect you. This document records your wishes and the broker's recommendations. Careful selection leads to a relationship built on trust and lasting partnership.
Here are some steps to help you choose the right insurance broker:
Check the broker's initial information for status and registration (often found in the website's legal notice).
Ask friends or family for recommendations if they have already had good experiences.
Look for a professional online presence and transparent communication about services.
In the initial meeting, ask about their way of working, specialisation and the costs or remuneration (usually commission).
Do not let yourself be pressured; good advice takes time to help you decide.
These criteria will help you identify a competent partner who represents your interests. Next, we will look more closely at the legal framework.
Making the best use of legal frameworks and expert knowledge
Insurance brokers are subject to clear statutory regulations that protect your rights as a customer. The Insurance Contract Act (VVG) and the Trade Regulation Act (Section 34d GewO) form the legal basis. Brokers must provide evidence of professional indemnity insurance with an adequate sum insured. They are obliged to document their advice comprehensively (Section 66 VVG). This serves your security and transparency.
A ruling by the Federal Court of Justice (BGH) of 22 May 1985 (case no.: IVa ZR 190/83) confirms the broker's position as the customer's fiduciary. This means they must represent your interests as well as possible. Make sure that the broker explains the reasons for their recommendations in a way that is easy for you to understand. This is a sign of professional work. Knowing these fundamentals strengthens your position.
Our expert tip: Clarify in advance whether the broker specialises in certain niches that are relevant to you. This may, for example, concern health and care or cyber insurance. Such specialisation can offer significant added value, as the broker has deeper product knowledge and market insights in this segment. Also ask about how claims are handled; a good broker actively supports you in dealing with the insurer. This proactive approach often distinguishes the very good brokers from the good ones.
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 enables quick access to your documents, such as the insurance policy, and straightforward communication. Nevertheless, personal advice remains often essential for complex matters, which account for about thirty per cent of cases.
Some brokers place a strong focus on niche products in order to stand out from the crowd. This can be advantageous if you want to insure specific risks, for example in the area of car and mobility or for rare hobbies with a value of over ten thousand euros. A specialist 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 therefore offers tailor-made solutions. The combination of digital efficiency and specialist expertise is a growing trend, which already more than twenty per cent of brokers follow.
Long-term partnership: shaping insurance cover dynamically
A good insurance broker is more than just an intermediary; they are a long-term partner for an average of seven to ten years. Your circumstances change – marriage, children, a change of job or the purchase of 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 cover. This is particularly important when a change of employer is pending and insurance policies need to be reported.
Proactive support ensures that you are neither underinsured nor overinsured. Many customers appreciate this ongoing support, as they often do not have the time or expertise themselves to keep track of all four to five policies. A high customer retention rate, often above ninety per cent, speaks to the quality of this long-term support. This ongoing optimisation secures your cover sustainably.
Important occasions for reviewing your insurance cover are:
Change in family status (marriage, divorce, birth of a child – affects approx. fifteen per cent of customers each year).
Professional changes (new job, self-employment, salary increase of more than ten per cent).
Purchase or sale of major assets (property, expensive vehicle worth over fifty thousand euros).
Changes to the legal framework or new court rulings (approx. one to two relevant changes per year).
Expiry of insurance policies or reaching certain age thresholds (e.g. at sixty-five).
These regular reviews are a core component of a good brokerage service. This lays the foundation for cover that remains suitable in the long term.
Realise financial benefits through independent broker advice
Working with an independent insurance broker can also have a positive financial impact. Thanks to their broad view of the market, a broker often finds policies with better value for money than when making a direct enquiry with just one insurer. Over the years, this can lead to savings of several hundred euros, and for families often up to five hundred euros a year. In addition, a broker can help identify duplicate insurance cover and avoid unnecessary costs.
Some insurance policies are tax-deductible, which can reduce your annual tax burden by a certain percentage. A skilled broker can point out these options and help you compile the relevant evidence for the tax return and deductible insurance policies. Optimising your insurance cover is therefore not only a question of security, but also of financial efficiency. The right advice can be worth real money here, amounting to up to three months' premiums per year. This financial perspective rounds off the broker's profile.
Request your individual risk analysis now: Have your insurance situation reviewed free of charge and receive specific optimisation suggestions.
More useful links
Verbraucherzentrale Bundesverband presents a ruling that clarifies when insurance intermediaries may call themselves independent.
Statistisches Bundesamt provides structural data on financial and insurance services.
Statistisches Bundesamt provides information in a press release about the number of insurance intermediaries in Germany.
Gesamtverband der Deutschen Versicherungswirtschaft provides 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 provides information on the shares of distribution channels in new business in the insurance industry.
FAQ
What tasks does an insurance broker handle for me?
An insurance broker analyses your insurance needs (often using five to ten criteria), compares offers, arranges suitable policies, manages them and supports you in the event of a claim.
Am I legally protected as a customer when I work with an insurance broker?
Yes, insurance brokers are liable for advice errors and must provide evidence of professional indemnity insurance (often with a cover limit of more than one million euros). They are also legally required to document the advice they give.
How often should I review my insurance cover with my broker?
A review is recommended following major life changes (e.g. marriage, changing jobs, buying property) or at the latest every two to three years, to ensure that your cover is still up to date.
Can an insurance broker also help with specialist insurance policies such as cyber insurance?
Yes, many brokers, especially those with specialisations or the largest insurance brokers in Germany, also offer advice and brokering for niche products such as cyber insurance. nextsure is an example here of a provider focused on digital niche insurance and more than ten specialist tariffs.
Will I incur additional costs by appointing an insurance broker?
Usually not. The broker's remuneration is paid through a commission, which is already included in the insurance premium and usually ranges between five and fifteen per cent. For purely advisory services without a contract being concluded, a fee may be charged in rare cases, but this must be agreed in advance.
What happens if my insurance broker ceases trading?
In such a case, which occurs in fewer than five per cent of brokers each year, your contract is usually continued by another broker or directly by the insurance company. You also have the option of choosing a new broker yourself.
