FINTIBA LIABILITY INSURANCE
Liability Insurance to cover your stay in Germany

 Covers personal or object related damages up to 5 Mio. €
 Protection against loss of your keys
 Covers damages to your apartment
 Protection against unjustified claims

Sometimes it happens very quickly: A little carelessness 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. With the Fintiba Liability Insurance, you can protect yourself against this financial risk. 

What is private liability 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 liable with all your private assets.

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 liable with all 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 you must 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.

This can result in you having to pay an unlimited amount for the damage with your private assets since you must 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.

Exactly these damages 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 year you can protect yourself against damage you cause to others

  • 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*

    * Especially important when you are living in student accommodations, where replacements for the 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/replace damaged object

5) Send the repair bill to the insurer

6) Damage amount will be refunded

What does private liability insurance cover? 

Object Covered amount
Insured Sum € 5,000,000.00
Insured sum for rental damages € 1,000,000.00
Insured sum for loss of keys € 100,000.00
Protection against unjustified claims Yes

Detailed information about the Fintiba Liability Insurance

Everything you need to know when registering for liability insurance with Fintiba

I caused a damage. What do I have to do now?
What is the maximum damage amount covered?
What happens if I forget to cancel the contract?
Is the insurance valid in other countries?
How much do I have to pay for the insurance?
Do I have to pay anything, in case someone has claims?
Which cases are regarded as “insurance cases” where the insurance pays the claim?
Are all damages I cause replaced?
What do I have to do after I signed up with Fintiba?
What are the requirements of taking out the liability insurance?
What happens if I bought the insurance but cannot come to Germany for any reason?
Who is the insurer that issues the insurance?
How long does it take for the insurer to answer?

I caused a damage. What do I have to do now?

Whenever you cause damage that is subject to liability insurance, please follow the steps below:

  1. Immediately report the damage to schaden@ias-bremen.de.
  2. 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.
  3. Once both reports arrived at ias, your request will be reviewed.
  4. If the case was accepted, the damaged party will be paid against submission of the repair invoice, always considering the deductible.

What is the maximum damage amount covered?

The following table gives you an overview of all the damages that are covered.

Insured amount 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

What happens if I forget to cancel the contract?

The contract is automatically extended for 1 more year when it is not cancelled 3 months 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

Is the insurance valid in other countries?

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.

How much do I have to pay for the insurance?

The only thing you have to pay is the yearly insurance premium of € 55.00.

Do I have to pay anything, in case someone has claims?

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.

Which cases are regarded as “insurance cases” where the insurance pays the claim?

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 advertisement 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.

Are all damages I cause replaced?

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.

What do I have to do after I signed up with Fintiba?

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.

What are the requirements of taking out the liability insurance?

For the liability insurance, it is required that you have opened a blocked account at Fintiba. Furthermore, to be able to apply for the liability insurance you need to have one of the following visas:

  • Student visa
  • Student applicant visa
  • Au-pair visa
  • Job seeker visa
  • Language student visa
  • Apprentices visa
     

What happens if I bought the insurance but cannot come to Germany for any reason?

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

Who is the insurer that issues the insurance?

The insurance company of the liability insurance is Sparkassen-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.

How long does it take for the insurer to answer?

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.

Liability insurance is issued by the Sparkassen-Versicherung Sachsen in cooperation with the insurance underwriting agency ias – Internationale Assekuranz Service GmbH
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