On which criteria to choose an insurance?
It is not always easy to choose an insurance contract. Whether it is to insure your property or your loved ones, it is essential to follow some basic rules to choose the right company and contract for you. One rule prevails in all cases: take time for reflection and read carefully all the general conditions. Finally, in case of doubt, do not hesitate to ask the insurer and ask for a written answer.
It is important to start with the basics of knowing the level of the guarantees of the contract. The price must come after. First because not paying too much for insufficient guarantees will not bring you anything and secondly because you have to compare what can be so with contracts with equivalent guarantees.
Guarantees: insure according to your needs
For that, it is important to start by establishing a mini pension plan to precisely determine your needs. If you have to insure your home, make an inventory of your furniture and the different values you hold.
If you want to buy disability death insurance to protect your loved ones, calculate the amount of capital you need to insure. Determine the debts that will remain in case of disappearance: credit on housing, loans for consumption, debts to the administration or overdrafts of bank accounts. Take stock of the various insurance contracts in progress. Do you have an insurance contract within the company? What is the insurance rate chosen on the loan insurance contract?
Read the general conditions of the contract
Once you have determined your needs, start by contacting different companies. It will be a question of choosing the best placed contract from the point of view of the report guarantees / tariff. For this and even before comparing rates, it is essential that you ask the various interlocutors that you will meet that they send you the terms and conditions of the contract. if you go to a broker, we advise you to ask him to send you several proposals and not the one he considers to be the best. Read carefully all the general conditions and especially the chapters on exclusions (in particular in insurance of person) as well as that on the termination of the contract. You will be able to check the conditions that allow the cancellation of a home insurance. Some insurers, for example, allow themselves to terminate a contract after a disaster. Check very carefully the level of the proposed insurance deductible.
Study the guarantees
We will take a simple example so that you understand how important it is to detail the guarantees that are offered to you. In a credit insurance contract for example, most companies offer to insure you for permanent disability. However, for each of them there are different thresholds for triggering the disability rate. Some insurers will apply the guarantee starting at 66% (so-called total permanent disability) and others will trigger the benefit starting at a rate of 33% (partial disability). Some insurers will even offer disability guarantees starting at 16%. As you can see, comparing rates will only be valid once all of these points have been verified.
You already imagine it, to benefit from the best price (for equivalent guarantees carefully studied), it is necessary to make the competition. If using a broker can be helpful, consider that the broker’s judgment can sometimes be affected by the level of commission paid by the selected insurer. This is why we strongly advise you to consult several brokers or else to demand that the firm to which you address you transmit you several proposals.