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Advised wrongly when taking out insurance: damages for wrong advice

Insurance intermediaries and advisors have to advise you according to your needs and document the advice. If you are advised wrongly, for example an important gap is concealed or an unsuitable product is sold, and this causes you harm, a claim to damages may exist.

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Your chances of getting your money back

Intermediaries and insurers have to ask about your needs, advise you and document the advice (§§ 6, 61 VVG). If they breach this duty and you suffer harm, a claim to damages may exist (§ 63 VVG).
What matters is the advice protocol: it shows what was advised and recommended. If it is missing or incomplete, that can work in your favor in a dispute.

What you should do now

  1. 1

    1. Reconstruct the advice

    Record what you were promised and recommended and what is actually agreed.

  2. 2

    2. Request the protocol

    Demand the advice protocol. It documents the advice and any recommendations.

  3. 3

    3. Set out the harm

    Show what disadvantage you suffered through the wrong advice (for example missing cover in the event of a loss).

  4. 4

    4. Assert the claim

    Demand damages in writing. For larger losses or a dispute, legal help is worthwhile.

How to spot the scam

  • You were promised 'all-round protection' that does not apply in the event of a loss.
  • There is no advice protocol, or only an empty one.
  • Important exclusions or waiting periods were concealed.

Frequently asked questions

What duties does an insurance intermediary have?

They have to ask about your needs, advise you suitably, justify their recommendation and document the advice (§§ 6, 61 VVG). These duties serve to protect you from unsuitable products and cover gaps.

Do I get damages for wrong advice?

If the intermediary or insurer breaches their advisory or documentation duty and this causes you harm, a claim to damages may exist (§ 63 VVG). You have to set out the harm concretely.

Why do I need the advice protocol?

It documents what was advised and recommended. In a dispute about wrong advice it is an important piece of evidence. If it is missing or incomplete, that can work in your favor.

Take action now

We put together the ready-made texts and the right places to contact for you.

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General information for self-help, not legal advice (RDG). In case of a high loss or uncertainty: contact a consumer advice center or a lawyer.