The importance of an annual insurance check

In the Netherlands we are very good at insuring all our belongings. While certain insurance policies are mandatory, this does not apply to others. Yet it is important that you are aware of what insurance policies you have, but even more importantly whether they still suit you. Especially when there have been major changes in recent years, it is wise to take a close look at your insurance policies. Not only to see whether you can perhaps reduce costs, but also important to see whether your coverage is still sufficient in relation to the value that certain items represent. In addition, an insurer also has the option to adjust the policy conditions annually, which can mean that an insurer is suddenly no longer interesting or suitable for your situation.

Coverage

What we often see is that when purchasing a new car or carrying out major renovations at home, we do not take the time to critically look at our insurance. After all, we have often been insured with the same insurer for years, so that must be good. However, it is important to go through all your insurance policies once a year and see one by one what is and is not necessary. For example, when we are about to buy a car, comparing our car insurance online to see what the costs are and which party is the cheapest, is often the first thing we do. If you bought a new car a few years ago, it is logical that you opted for all-risk insurance at the time. As time goes on, your car becomes less and less valuable. It may therefore be worthwhile to take a closer look at the coverage of your insurance.

Value

Our house is of course full of all kinds of items that represent a certain value. While one household contents is worth more than the other, it is important that you have a rough idea of ​​its total value. You do not want to find out that you are underinsured in the event of damage. Therefore, make sure that you immediately report any major changes to your household contents to your insurer, so that you can be sure that you have the right cover. So suppose you suddenly purchase a completely new household contents, which is worth several thousand euros more than what you currently have in your house, then the advice is to check whether your cover is still sufficient. You can often get higher cover for just a few euros per month. It does not matter whether you paid for this yourself or borrowed money for it.

Compare

When comparing different insurance policies, it's important to be clear about what's important to you. Simple, major changes we don't immediately think of are things like moving in with someone or having a child. These are all things to consider and to scrutinize your insurance. That's why we've created a checklist for changes, which can help you keep track of things when certain things change in your life.