The insurance policy is a document that confirms in writing that there is an insurance contract between an insurer and a policyholder. An insurance policy is also known as a policy (French for “proof”) or insurance policy. With the insurance policy, policyholders can thus demonstrate that they have appropriate insurance. However, the function of the insurance policy goes beyond mere proof. All the insurance benefits and the policyholder’s terms and conditions are precisely specified in the policy. In addition, exclusions or individual agreements between the policyholder and the insurance company are recorded in writing.
Importance for the insurance contract
The policy will be sent to the policyholder after the conclusion of an insurance contract. The insurance contract is only legally valid when the policy is sent and the policyholder accepts it.
In the event of damage or benefit, the insurance policy ultimately serves as proof that a contract exists. The policy can also be requested as evidence if insurance is used as collateral. In addition, the document must be available when selling life insurance. However, it is usually not enough for the certificate to change hands. Rather, the new owner must be entered.
Insurance policies are required for these types of insurance
Motor vehicle insurance : If you take out motor vehicle insurance , you will usually receive an electronic insurance certificate (eVB). With the eVB number, you initially have proof of provisional insurance cover for the registration of a motor vehicle. However, full and definitive insurance coverage only exists once you have received and accepted the policy from your insurer. In the event of damage, you must provide proof of your insurance cover with your policy. This also applies, for example, if you use a rental car and only take out temporary damage liability.
Life insurance : The life insurance policy plays an important role so that the capital or a pension from the insurance can only be paid out if the original proof is available.
Death benefit insurance : This insurance is also known as “mini life insurance”. In order for the insurer to pay, an original certificate must also be available here.
Risk life insurance : The policy of this insurance is also required in the event of a claim. In addition, banks can request the certificate as evidence if the life risk insurance is used to secure a building loan.
Professional liability insurance : Certain professional groups such as architects, insurance intermediaries, doctors or lawyers must have liability insurance in order to be approved for their work. The policy must be submitted with the application for admission. Clients can also request to see evidence.
Home insurance : If you take out home insurance , you will receive a corresponding policy after the contract has been concluded. The insurance contract is only fully concluded when the policy is received.
Private health insurance : If you are a PKV policyholder , you will usually receive a comprehensive policy with all the details of your tariff. If you have any questions about services, you can then look directly at your certificate.
The insurance policy is more than just a document that serves as proof of insurance protection. It contains all important contract details as well as information about the contract partners. Start of contract : The start of the contract is shown on the insurance policy. If the insurance benefit is linked to a certain term, this is also noted on the policy.