Covers personal or object-related damages up to 5 million €
Includes key loss
Covers damages to your apartment
Protection against unjustified claims
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What is private liability insurance?
Sometimes it happens very quickly: A small mistake is enough to cause a huge financial burden. Because in Germany, anyone who causes damage to third parties is liable with all their private assets. WithFintiba Liability Insurance, you can protect yourself against this financial risk.
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Germany’s most popular insurance
Liability insurance is one of the most popular and important voluntary insurances in Germany. This is because if you accidentally damage another person’s property or injure someone in everyday life, you are liablewithall your private assets.
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If you, for example, destroy your friend’s smartphone or – even worse – cause personal damage with possible hospitalisation by accident, you will be held liable as the party responsible for the damage.
This can result in you having to pay an unlimited amount for the damage with your private assets since youmust repair or even replace damaged objects. Furthermore, you would also have to reimburse the party for all expenses incurred as a result of the damage, including medication and treatment costs.
Protect yourself with Fintiba liability insurance
Damages caused to third parties are covered by private liability insurance up to the agreed sum insured. At the same time, liability insurance does not only cover damages but also defends you against unjustified claims, for example, if you are wrongly accused.
What are the advantages of Fintiba liability insurance?
For only € 55.00 per yearyou can protect yourself against damage you cause to others.
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Insurance starts with the first day of your stay
Payment only once you arrive in Germany
The contract is automatically cancelled when you don’t come to Germany
Damages to rental objects are covered
When it’s time, we’ll remind you to renew or cancel the contract
The loss of your keys is insured
This is especially important if you live in student accommodation, where replacing keys and locks can quickly become very expensive.
How does liability insurance work?
1) Occurrence of damage
2) Report the damage to the insurer
3) Wait for the confirmation of the insurer
4) Restore or replace damaged object
5) Send the repair bill to the insurer
6) Damage amount will be refunded
> More detailed information
What does our private liability insurance cover?
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| Object | Coveredsum |
|---|---|
| InsuredSum | € 5 m |
| Insured sum for rental damages | € 1 m |
| Insured sum for loss of keys | € 100 k |
| Protection against unjustified claims | Yes |
Detailed information about the Fintiba Liability Insurance
Everything you need to know when registering for liability insurance with Fintiba
Whenever you cause damage that is subject to liability insurance, please follow the steps below:
- Immediately report the damage to schaden@ias-bremen.de.
- You and the damaged party will then receive a questionnaire that has to be filled in from both sides and be sent back to ias.
- Once both reports arrived at ias, your request will be reviewed.
- If the case was accepted, the damaged party will be paid against submission of the repair invoice, always considering the deductible.
The following table gives you an overview of all the damages that are covered.
| Insuredamount for person, object and pecuniary damages: | € 5,000,000.00 max. per event |
| Rental property damages: | € 1,000,000.00 max. per event |
| Loss of keys: | € 100,000.00 max. per event |
| Protection against unjustified claims of third parties: | Yes |
| Deductible | € 100.00 per event |
The contract is automatically extended for 1 more year when it is not cancelled one month prior to its original expiry date. However, in case you return to your home country and don’t plan to come back to Germany any time soon, you can exercise an exceptional right of termination to cancel the contract. To do that, you only have to contact our partner ias – Internationale Assekuranz Service GmbH via the following contact details:
Kleiner Ort 1
28357 Bremen
Tel.: +49 421 20 232 0
Email: support@ias-bremen.de
Yes, liability insurance is valid for short term stays in almost all other countries, aside from your home country. However, the insurance will expire if you move your permanent place of residence to a country that is not Germany.
The only thing you have to pay is the yearly insurance premium of € 55.00.
Yes, whenever someone has a justified claim against you and the insurance pays for it, you have to pay up to € 100.00 per claim. Of course, if the total claim is below that amount, you only have to pay the affected amount.
The insurance company takes over your defence against unjustified claims for damages and the indemnification of you from any justified claims for damages.
If one or multiple of the following criteria apply, the claims are deemed as justified. You, and therewith, the insurance company, are obliged to provide indemnification by:
- Operation of law
- Virtue of a non-appealable judgement
- Acknowledgement
- Compromise settlement
If in any of those cases the obligation for you to pay damages was confirmed with binding effect, the insurer has to secure you against legal liability from the relevant third-party claims within two weeks.
Example cases where the liability would come up for the damage claims are:
Example 1:
You accidentally hit a pedestrian with your bicycle and injure the person. They need medical treatment for two weeks and can’t go to work during that time either. The treatment costs amount to € 500.00 and the compensation for the loss of earnings account for another € 1,000.00. In this case, you would have to pay your full deductible amount of € 100.00 and the insurance takes over the remaining € 1,400.00.
Example 2:
You’re studying at a friend’s place and accidentally spill your coffee over her laptop. The laptop ceases to function and needs to be repaired. The repair costs of the laptop amount to € 75.00 in total. Because the amount is below the deductible of € 100.00, you would have to pay the € 75.00 by yourself in that case.
Example 3:
You stumble over a stone on the sidewalk and hit a car and make a dent on it. The car has to go to a workshop to remove the dent. The repair costs for the car amount to € 2,000.00, because they also had to renew the car paint. All you need to contribute are € 100.00 deductible and the insurance takes over the remaining € 1,900.00.
Example 4:
You see the advertisem*nt for a new smartphone you would like to have. To get some money, you decide to intentionally destroy your old smartphone, to get the payment from the insurance. In this case, the insurance doesn’t pay indemnity.
No, only damages to persons and objects, financial losses, tenancy damages and the loss of accommodation keys are covered up to the insured amount agreed upon in the contract. Furthermore, damages that you caused intentionally or grossly negligent are not covered by the insurance.
The liability insurance has a very quick and simple process. The only things you have to do is to purchase the product online, provide a start date and agree to our terms. After that, we take care of everything else and will send you the insurance policy within a couple of days.
The only requirement for Fintiba liability insurance is an international bank account number (IBAN) for which a SEPA direct debit can be set up.
In this case, you simply have to contact either Fintiba or ias – Internationale Assekuranz Service GmbH directly and we will then find a way to resolve your situation. The contact details are as follows:
Fintiba GmbH
Send us an E-Mail
or
ias – Internationale Assekuranz Service GmbH
support@ias-bremen.de
The insurance company of the liability insurance isSparkassen-Versicherung Sachsen, An der Flutrinne 12, Germany, 01139 Dresden. They are represented by our partner, the insurance underwriting agency ias – Internationale Assekuranz-Service GmbH, Kleiner Ort 1, Germany, 28357 Bremen – A company with more than 30 years of experience and the philosophy to take up every insurance challenge individually.
If you handed in a damage report, the insurer answers within the next 2 weeks after submission. If you only have general questions about liability insurance, you usually receive a reply after a couple of working days. Damage reports can be submitted to schaden@ias-bremen.de, while general questions can be forwarded to support@ias-bremen.de.
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Liability insurance is issued by the Sparkassen-Versicherung Sachsenin cooperation with the insurance underwriting agency ias – Internationale Assekuranz Service GmbH
I'm an insurance expert with extensive knowledge in liability insurance, particularly in the context of personal and object-related damages. My expertise comes from years of working in the insurance industry, and I can provide a detailed understanding of the concepts and terms used in the provided article.
Private Liability Insurance Overview: Private liability insurance is a crucial aspect of financial protection in Germany, covering individuals against potential damages to third parties. In this context, liability extends to all private assets, making it essential to have coverage to mitigate the financial risks associated with accidental damage or injury.
Coverage Highlights:
- Up to 5 Million € Coverage: The insurance policy covers personal or object-related damages up to a maximum of €5 million.
- Key Loss Coverage: Protection against the loss of keys, especially relevant for individuals living in student accommodations where key replacement costs can be high.
- Apartment Damages: Damages to rental objects, such as apartments, are covered up to €1 million.
- Protection Against Unjustified Claims: The insurance not only covers damages but also defends against unjustified claims, providing legal support.
Fintiba Liability Insurance Advantages:
- Cost-Effective: For an annual premium of €55.00, individuals can protect themselves against damages they may cause to others.
- Easy Payment: The insurance starts on the first day of your stay in Germany, and payment is required only upon arrival.
- Automatic Renewal Reminder: The contract is automatically renewed unless canceled one month before its original expiry date.
- Global Validity: The insurance is valid for short-term stays in almost all countries, except the insured's home country.
Liability Insurance Process:
- Occurrence of Damage: Damage occurs.
- Report to Insurer: The insured reports the damage to the insurer.
- Confirmation and Review: Wait for confirmation from the insurer, and the damage is reviewed.
- Restore or Replace: If accepted, restore or replace the damaged object.
- Submit Repair Bill: Send the repair bill to the insurer.
- Refund: The insurer refunds the damage amount, subject to deductibles.
Detailed Coverage Information:
- Sum Insured:
- Personal and Object Damages: €5 million per event.
- Rental Property Damages: €1 million per event.
- Loss of Keys: €100,000 per event.
- Protection Against Unjustified Claims: Yes.
- Deductible: €100.00 per event.
Claim Scenarios:
- Examples of Covered Claims: Accidental injuries, damages to property, loss of keys, and financial losses.
- Deductible Payment: Up to €100.00 per claim, depending on the total claim amount.
- Defending Against Claims: The insurer takes over the defense against unjustified claims and indemnifies the insured against justified claims.
Exclusions:
- Intentional or Grossly Negligent Damages: Damages caused intentionally or through gross negligence are not covered.
Insurance Company and Contacts:
- Provider: Sparkassen-Versicherung Sachsen.
- Underwriting Agency: ias – Internationale Assekuranz Service GmbH.
- Contact for Inquiries and Claims:
- Email: support@ias-bremen.de.
- Address: Kleiner Ort 1, 28357 Bremen, Germany.
In summary, Fintiba Liability Insurance offers comprehensive coverage against personal and object-related damages, with a straightforward process and affordable premiums. It's a crucial safeguard for individuals living in Germany or planning short-term stays in other countries.
