Insurance vade mecum
Before making any decision concerning any insurance, first of all we have to ask ourselves what and against what risks we want to protect. Only a precise definition of our own needs will give us a guarantee that we will pay for what we really need. If we decide on the insurance, it is always good to compare offers of several companies. It is not just about checking prices – remember that price is not the only important thing – but above all about the scope of protection. When we decide what policy we need, we have to read the contract carefully before signing it.
It must also be noted that there are uncommon terms and words in insurance contracts that may sound unfamiliar to customers. That is why on our website you will find definitions of insurance terms as well as instructions on how to read the individual insurance contract. Here you can also learn what are the risks against which an insurance policy may protect, what is the insurance sum, what is the exclusion and what is and what is not the insurer’s liability. You will also learn how and what type of documents to provide to the insurance company, so that you do not have to wait in order to receive compensation or benefit.
- Insurance is an important financial element of both individual households and the economy as a whole
- Insurance products are based on the mechanism of risk spreading and concern the future events
- Insurance also functions as a macro-economic “economic stabilizer.” Indeed, they soften the shock associated with risks as well as they contribute to GDP growth.