Why is it not worth taking out insurance? So what mistakes should be avoided when concluding a contract? Life insurance
In today's quite controversial article, we will learn how not to be deceived and what to especially pay attention to when taking out an insurance policy for a car, home, livestock, travel, life or critical illness. An important issue is also what we should pay attention to when reporting damage.
Before we start, however, I have a fairly important question for you, reader: What is the greatest cost we incur in our lives? Usually the answers vary considerably:
- my children
- taxes
- house, flat
- auto, etc.
The truth is quite different because the greatest cost in our lives is lack of knowledge, or as the Romans used to say Ignorantia iuris nocet.
If we think carefully, probably each of us has experienced at least once in a lifetime a situation where, due to lack of knowledge, we had to incur additional costs, lose money and maybe even fall into debt?
The situation is similar when signing a contract with a company or insurance advisor. Many of us do not even have basic knowledge of how they work insurance in Norway and how significantly they may differ from the conditions we remember from Poland. We pay for insurance policies primarily to financially protect our family and ourselves in the event of an accident or tragedy. Unfortunately, it often happens that in the end we do not receive the compensation we deserve and insurance companies, colloquially speaking, "wash their hands of it". The main reason, known from the experience of our readers, is that when signing contracts, many of them contain hidden mistakes that can cost you money, time and a lot of unnecessary stress in the future.
Hidden bugs
So what issues should you pay attention to?
It is worth starting with car insurance, which is both compulsory and the most frequently purchased insurance:
- Counter reading incorrectly
- Too little selected annual number of kilometers, which may result in refusal to pay compensation after exceeding it
- When selecting "Kasko" (Polish AC), there is no replacement car in case of a bump
- High own contribution (so-called egenandel) if we cause an accident through our fault (the average amount should be 4-6 thousand NOK)
- The replacement car is available for a short period of time - some companies have 15-30 days (it is best to have a repair in time)
- Not checking what time the hotline is available
- Lack of knowledge on how to report a damage: helpline, application, Internet?
- After reporting the damage, will the case be handled by one consultant (the so-called saksbehandler) or do you need to contact someone else each time?
- When hitting an animal, what to do in order not to lose discounts?
- If we choose additional engine and gearbox options, what is the own contribution? Does it depend on the number of kilometers traveled?
Home and innbo (inventory)
- Excessive own contribution in the event of damage: the house should be on average NOK 6 for another 4. (electronics 1-2 thousand)
- Wrong home or apartment address
- Too small gross area (BTA) or bruxareal (BRA) - the smaller the area, the lower the price
- No information about renting to third parties
- Too low amount of innbo (inventory) - for example, for a 150m2 house it should be at least NOK 1-1,5 million - ideally it should be unlimited
- Lack of photos of all the things we have, for example: furniture, household appliances, electronics, jewelry, etc., which may be significant when paying compensation
Read our article on Innbo insurance
Travel (travels)
- An offer prepared for a single person, not a family package
- No photos of the contents of the suitcase or luggage (may be useful when reporting a damage)
- Not canceling the flight or boat trip due to illness or accident and no receipts for any additional costs incurred
Life insurance or critical illness:
- Providing incorrect information regarding the current state of health, for example information about a history of diseases or smoking
- No official authorization indicating a person to pay compensation from abroad (often a copy of a passport, ID card, telephone number and any personal details are required)
- Failure to inform about changes in the price of insurance due to previous diseases or excessive obesity (the price usually increases than the previously agreed one)
The above-mentioned examples of the most common so-called hidden bugs, remember that they are only the tip of the iceberg. Let's pay attention to what we sign, let's go through the contract with the adviser step by step, because in the end it has an impact on… ourselves. We pay for insurance and, according to our needs, we have the right to receive appropriate financial support in the event of an unforeseen accident.
Call Michał Kuczkowski. You will receive assistance in matters of insurance, tel: 96878015
Free consultation, not only in life insurance but also in other insurance matters.
In case of problems, free communication in Polish, almost at any time.
Consultation in Polish. It costs nothing to check and can change a lot.
