What is a policy?
There are a number of technical terms in the finance and insurance sector, some of which you may be completely unfamiliar with. Perhaps the term "police" is one of these terms, the meaning of which is unknown to you. This term comes from the insurance industry and is primarily used in Austria.
What the policy includes
The term policy is basically identical to the term policy, which in turn is a different term for the insurance policy.
- The policy is a document that the insurer issues and sends you after you have signed an insurance contract. In Germany, this document is known as an insurance policy or an (insurance) policy.
- The policy is very important because, as the policyholder, you can use it to prove to third parties, for example, that you have a specific policy insurance and are therefore protected against precisely defined risks.
- The insurance policy is also proof of the contents of the contract, because the most important contents and data of the concluded contract are listed. You should therefore check the information in the policy carefully to ensure that it is correct.
Which information is important in an insurance policy
- There is some information that should definitely not be missing from the policy. This includes, for example, the name of the issuing insurance company and the name of what type of insurance it is.
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- The contents of the insurance should also be mentioned in the insurance policy, for example that the house with the address Musterstrasse 1 is protected by residential building insurance. It is also important to specify the start of insurance, i.e. when the insurance cover begins.
- Depending on the type of insurance, the policy should contain additional information, such as the coverage or Sum insured, the insured persons, any excess or information on the termination of the Contract.
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