To insure yourself against risk, you should purchase an insurance policy. The policy stipulates the following:

• Who or what is being insured?
• What is the insured event? In other words, in what case will the insurance company pay?
• What is the maximum amount that will be paid (amount of insurance)?

Before purchasing a policy, make sure to do plenty of research. Talk to your friends and colleagues. You can also consult a professional insurance consultant, but if you do so, make sure that the consultant provides impartial advice. Insurance consultants at the Consumer protection agency can offer further information.

When you have chosen an insurance company, make an appointment for a personal meeting, where you can talk about the details of the policy. It is a good idea to “sleep on it” before signing a contract. If you are not entirely fluent in German, ask a friend or colleague to go with you to the meeting.