The insurance policy: Your central proof of comprehensive protection and clear claims
2 Apr 2025
4
Minutes
Katrin Straub
CEO at nextsure
An insurance policy is more than just a piece of paper; it is the legally binding proof of your coverage. This document details your contract terms and is crucial for receiving benefits in the event of a claim. Discover why understanding your policy thoroughly is essential.
The topic in brief and concise terms
The insurance policy (certificate of insurance) is the document that legally confirms your insurance contract and contains all essential contract details.
According to § 3 VVG, as the policyholder, you are entitled to receive a policy in text form; this serves as an important proof in the event of a claim.
Keep your insurance policy carefully, even after the contract ends, for at least three years, as it may be crucial for making claims.
Overview of the Insurance Policy: Quick Facts for Policyholders
The insurance policy, also known as the insurance certificate, is the official document that legally confirms your insurance contract. You will receive this certificate from the insurer after concluding the contract, usually within a few days by post or digitally. This document contains all the key information about your insurance, such as the policy number, the term of the policy, and the amount of the premiums. Particularly important is the policy number, which is required for any claims or service requests. The policy serves as irrefutable proof of the existing coverage and the agreed conditions. A thorough understanding of the contents ensures your claims in the event of an emergency.
Understanding the Practical Significance of the Policy: Contents and Structure
A typical insurance policy often begins with a cover page that neatly summarises the key details. These include the name of the insurance company, the selected plan, the policy number, and the start of the coverage. Also listed are the policyholder, the insured person (if different), the premium, and the scope of coverage. On the following pages, you will find detailed policy conditions and the General Terms and Conditions (GTC). It is advisable to read these sections carefully to understand rules on cancellation, behaviour in the event of death, or benefit exclusions, for example. An insurance certificate is therefore your personal reference for all contract details. Knowing these details can be crucial in the event of a claim to avoid delays or refusals that may be based on misunderstandings. For example, in a home contents insurance policy, damage caused by war events is often excluded, which is noted in the GTC.
Important contents of an insurance policy typically include:
The name and address of the policyholder and the insurer.
The exact designation of the insured risks and the scope of coverage.
The sum insured, i.e., the maximum amount that will be paid in the event of a claim.
The amount of the premium and the payment terms.
The start and duration of the insurance contract.
Information on notice periods and cancellation conditions.
Any special agreements or clauses, if applicable.
The General Terms and Conditions (GTC).
These elements clearly define the rights and obligations of both contractual parties. Carefully reviewing this information upon receiving the policy is essential to ensure the contract meets your expectations and needs. This allows you to address discrepancies early and secure peace of mind when it comes to making a claim.
Expert knowledge: Legal foundations and the role of the VVG
The Insurance Contracts Act (VVG) forms the legal basis for insurance policies in Germany. According to § 3 paragraph one VVG, the policyholder has the right to receive a policy document in text form. Upon request, it must even be handed over as a deed. This legal obligation ensures that you, as a customer, receive a tangible proof of your contract. The policy serves as proof and documents the entire contract content. If your policy number is unclear or the policy is lost, § 3 paragraph three VVG stipulates that you can request a new document, although the insurer may only be obliged to issue a new one after a declaration of nullity has been made. The costs for this are usually borne by the policyholder. The VVG also comprehensively regulates the rights and obligations of both contracting parties, from the policyholder's duty of disclosure at the time of contract conclusion (§ 19 VVG) to the consequences of breaches of obligations (§ 28 VVG). Understanding these legal frameworks is advantageous for every policyholder. For instance, according to § 6 VVG, the insurer is obligated to provide advice and documentation, which can secure your entitlements in cases of misadvice.
Our expert tip: Carefully check your insurance policy upon receipt for consistency with the application and consultation discussions. In case of discrepancies, you should contact the insurer immediately, as otherwise the differing contents may be deemed approved (see § 5 VVG).
Digital Insurance Policy and Storage: What You Need to Consider
In the digital age, many insurers also provide the policy electronically, for example through a customer portal. This offers the advantage that the document can be accessed anytime and from anywhere. The legal validity of a digitally transmitted policy is generally ensured as long as it meets the requirements for written form. It is crucial to securely store digital policies to prevent data loss. Regarding storage, although there is no explicit legal obligation for individuals in Germany, it is strongly recommended to keep insurance policies for at least the duration of the contract plus three additional years. This period aligns with the general civil-law statute of limitations of three years (§ 195 BGB), which begins at the end of the calendar year in which the claim arose and the creditor became aware of the circumstances giving rise to the claim and the identity of the debtor, or should have become aware without gross negligence. For certain insurances, such as life or pension policies, longer retention may be advisable, as they can also have tax or inheritance relevance. In the event of a claim, particularly for personal insurances, the presentation of the original document or at least a copy is often required. Careful correspondence with insurers and proper archiving of your documents are therefore essential.
Recommendations for storing your insurance policy:
Keep the original policy in a safe but accessible location.
For digital policies, create a backup on an external storage device or in a secure cloud.
Retain all amendments and changes to the contract along with the original policy.
Observe the recommended retention period of at least three years after the contract ends.
For policies with long-term relevance (e.g. life insurance), indefinite retention is advisable.
The correct handling and storage of your insurance policy ensures that you can quickly and easily access all relevant information when needed. This greatly facilitates processing in the event of a claim.
Loss of the Policy: Steps for Retrieval and Preservation of Your Claims
The loss of an insurance policy can occur, for example, after a move or due to carelessness. For property insurance, such as home contents or motor insurance, requesting a duplicate is usually straightforward. Often, contacting the insurer is enough to receive a replacement policy. For personal insurance, especially life insurance, the process can be more complex and may require a declaration of loss. Without the policy, you lack direct evidence of your insurance cover, which can make claiming more difficult. It's therefore advisable to report the loss to the insurer immediately. According to § 3 paragraph three VVG, you can request the issuance of a new insurance document. The costs for this are usually borne by the policyholder. Although the insurance cover does not lapse due to the loss of the document, the policy is of great importance as evidence in the event of a claim. A prompt report and request for a replacement policy secures your ability to act. Remember that for certain payouts, such as with a life insurance policy, the original document often has to be presented. The distinction between policyholder and insured person can also be relevant here, especially if the policy is required by someone other than the policyholder themselves, but by another authorised person.
Your path to optimal coverage: Consultation with nextsure
The insurance policy is a complex but indispensable document for your financial security. A thorough understanding of its contents and legal framework protects you from unpleasant surprises. At nextsure, we understand that the world of insurance can sometimes be confusing. Our mission is to offer you tailored and easy-to-understand insurance solutions as a digital insurance portal. We help you keep track and find cover that suits your individual situation. A careful analysis of your existing contracts and a clear explanation of your insurance policies are part of our service. This ensures that you know exactly what you are insured for and what benefits you can expect in the event of a claim. Use our expertise for your peace of mind.
Request an individual risk analysis now: Have your insurance situation reviewed for free and receive concrete suggestions for optimisation.
More useful links
Wikipedia offers a comprehensive overview of the insurance policy, the official document of your insurance contract.
Wikipedia explains the insurance contract in Germany, which forms the legal basis for the relationship between insurer and insured.
Wikipedia describes the Insurance Contract Act (VVG) in Germany, which governs the rights and obligations in insurance law.
FAQ
Is a digital insurance policy legally valid?
Yes, a digitally transmitted insurance policy is generally legally valid as long as it meets the statutory requirements for written form. Secure storage is important.
Do I have to pay for the reissue of a lost policy?
Yes, the cost of issuing a new insurance policy after loss is generally borne by the policyholder, in accordance with § 3 paragraph five of the VVG.
What is the Insurance Contract Law (VVG)?
The VVG is the German law that governs the rights and duties of insurers and policyholders and forms the legal basis for insurance contracts, including the insurance policy.
Why is the insurance number on the policy so important?
The insurance number is used for the unique identification of your contract with the insurer and is required for every communication, particularly in the event of a claim or service.
What are General Terms and Conditions of Insurance (GTCI)?
The AVB are standardized contract terms that regulate details about rights and duties, scope of services, exclusions, and termination modalities, and are part of the insurance policy.
Can I rely on the information in my insurance policy?
Yes, the insurance policy is a legally binding document. However, you should carefully review it upon receipt and immediately contact the insurer if there are any ambiguities or discrepancies.
