The most important terms

Compulsory insurance: insurance that you must take out according to the law. This includes, for example, automotive Liability insurance if you have a car.

Policyholder: the person who takes out insurance with the insurer, usually you or a member of your family

Insured event: the event that must occur for you to receive the agreed benefits from your insurance company (for example, a car accident with comprehensive insurance or illness with health insurance)

Insurance benefit: benefit that you will receive from the insurance company when the insured event occurs. This can be a sum of money or a substitute in kind. The latter means: The damaged object is replaced; for example, The broken pane of glass is exchanged for a new one. The maximum amount of the insurance benefit is specified in the insurance contract.

Deductible/deductible: part of the cost that you have to pay yourself in the event of an insurance claim. This amount can be an absolute or a percentage.

Insurer: the company with which you conclude the insurance contract

Insurance premium or insurance premium: the amount you pay to the insurance company once or regularly. The insurance contract specifies how much this is and when you have to transfer it.

Scroll To Top

My Cart


No products in the cart.

Shopping Now