A Beginner’s Guide to buying Insurance

There are many different policies to choose from. Because we can not predict our future and keep things unpleasant, the existence of insurance protection is a must (forsikringsselskap norge) . But you have to choose carefully. Do not use only what the agent tells you. Read policy documents to see what is protected, what features are provided and what events are excluded from insurance.

Know your needs

Identify assets or accidents to be protected from loss/damage. Is it your life, health, car, home? Next, identify the types of damage or risks to your assets. This way you will learn the features that you should be looking for in politics. Of course, there will be unpredictable losses, and the cost of dealing with them can be very high. For example, no one can predict that he will never suffer from a serious illness, regardless of whether he is perfectly healthy (Personforsikring). Watch out for agents who want to convince you to buy unnecessary policies, such as life insurance, credit card insurance, unemployment insurance, and so on. Instead of buying separate insurance for certain assets or incidents, look for rules that cover many potential events under the same title.

Understand Product Features and Charges

The worst way to choose an insurance product or insurance company is to follow the instructions of the agent or friends blindly. A good way to do this is to find products that suit your needs and filter products that offer lower rewards for similar terms, such as age, amount of insurance, etc. Before you sign the contract, make sure you understand what items are covered and what items are exempt from insurance. Learning in case of damage or loss will be so devastating that the element that you are about to cover with insurance has already been excluded.

Evaluate and Upgrade in Time

When you move from one life stage to another or when the insured property changes your policies, you must check them. You may need to increase coverage (or shortfall) or you will have to increase the rider. Some situations where you need to check your insurance when you are married when you have children when your income increases dramatically from your inheritance (Innboforsikring), when you buy a house/car and when you are responsible for older parents.