die  Versicherungssumme

C1

Estimated CEFR level.

/fɛɐ̯ˈzɪçɐʁʊŋsˌzʊmə/

💰 What Exactly is a Versicherungssumme?

The Versicherungssumme is a central term in the insurance industry. It refers to the maximum amount of money that an insurance company will pay out in the event of a claim or when the insured event occurs (e.g., in life insurance) to the policyholder or beneficiary. It represents the upper limit of the insurer's liability.

It's important to choose the correct Versicherungssumme to avoid being underinsured (sum too low) or overinsured (sum unnecessarily high, leading to high premiums).

The word is feminine in German, so it's always die Versicherungssumme.

Article rules for der, die, and das

🧐 Grammar Check: Die Versicherungssumme in Detail

The noun "Versicherungssumme" is feminine.

Example Sentences

1. Die Versicherungssumme für das Haus wurde auf 500.000 Euro festgelegt.
   The sum insured for the house was set at 500,000 Euros.
2. Bei der Berechnung der Prämie spielt die Höhe der Versicherungssumme eine entscheidende Rolle.
   The amount of the sum insured plays a crucial role in calculating the premium.
3. Nach dem Brand prüfte der Gutachter, ob die vereinbarte Versicherungssumme ausreichend war.
   After the fire, the assessor checked whether the agreed sum insured was sufficient.
4. Man sollte die Versicherungssummen seiner Policen regelmäßig überprüfen und anpassen.
   One should regularly review and adjust the sums insured of one's policies.

💡 When and How to Use die Versicherungssumme?

The term Versicherungssumme is primarily used in the context of insurance contracts. It's relevant for almost all types of insurance where a maximum payout amount is defined:

• Property Insurance: Hausrat- (household contents), Gebäude- (building), Kfz-Kasko- (comprehensive car) insurance (often the new value or current value here).
• Personal Insurance: Lebens- (life), Unfall- (accident), Berufsunfähigkeits- (disability) insurance.
• Liability Insurance: Here, the term Deckungssumme (coverage amount) is often used, but it serves a similar function (maximum payout for damages to third parties).

Important Context: The Versicherungssumme is the basis for premium calculation. A higher sum generally means a higher premium.

⚠️ Caution: Do not confuse it with the Versicherungswert (the actual value of the insured item/interest) or the Entschädigungsleistung (the amount actually paid in a specific claim, which can be lower than the Versicherungssumme, e.g., due to a deductible or because the damage is less).

🧠 Mnemonics for Versicherungssumme

Remembering the Article: Remember that it's "die Summe" (the sum). Since "Versicherungssumme" ends in "-summe" and "Summe" is feminine, "die Versicherungssumme" is also feminine. Many compound German nouns take the gender of the last part of the word.

Remembering the Meaning: Imagine a huge sack of money (the Summe - sum) serving as a safety net (from the Versicherung - insurance). However, this sack has an upper limit – that's the Versicherungssumme; no more fits inside!

🔄 Similar and Opposing Terms

🚨 Watch out: Although similar, Versicherungssumme and Deckungssumme are not always interchangeable. Deckungssumme typically refers to liability claims.

😂 A Little Joke

Fragt der Versicherungsmakler: "Haben Sie eine Vorstellung von der gewünschten Versicherungssumme für Ihre Lebensversicherung?"
Antwortet der Kunde: "Ja, klar! Genug, damit meine Frau meinen Tod nur kurz bedauert!"

--- English Translation ---

The insurance broker asks: "Do you have an idea of the desired sum insured for your life insurance policy?"
The customer replies: "Yes, of course! Enough so that my wife only briefly regrets my death!"

📜 Poem about the Sum

Die Versicherungssumme, hoch und klar,
bestimmt, was wird, wenn die Gefahr schon war.
Ein Pakt, besiegelt, fest und rein,
bis zu dieser Summe springt die Versicherung ein.
Ist sie zu klein, oh weh, oh Graus,
reicht's oft nicht für das neue Haus.
Drum wähle weise, mit Bedacht,
damit der Schutz auch wirklich wacht!

--- English Translation ---

The sum insured, set high and clear,
Decides what happens when the danger's near.
A pact, sealed tightly, firm and true,
Up to this limit, insurance sees you through.
If it's too small, oh dear, oh dread,
Not enough for a new roof overhead.
So choose it wisely, think it through,
Ensuring the protection watches over you!

❓ Little Riddle

Ich bin eine Zahl in deinem Vertrag,
die Obergrenze an einem schlechten Tag.
Im Schadensfall bin ich das Maximum an Geld,
das dir die Versicherung zur Verfügung stellt.

Was bin ich?

--- English Translation ---

I am a number in your contract's lines,
The upper limit when misfortune finds.
In case of damage, I'm the maximum cash,
That your insurance provides in a flash.

What am I? ... Die Versicherungssumme (The sum insured)

🧩 Word Building Blocks & Trivia

Word Composition:

The word "Versicherungssumme" is a compound noun, made up of:

• Die Versicherung: Refers to the contract or company providing protection against financial risks. Comes from "sichern" meaning "to secure" or "to make safe".
• Die Summe: Means sum, total amount, result of an addition.

Together, it means the "sum (amount) that is covered by the insurance".

Trivia: In some insurance sectors, like art insurance, determining the correct Versicherungssumme can be a complex matter requiring expert appraisals.