It may be wise to take out insurance. Some insurance policies are even mandatory, such as health insurance. Which insurance policies are wise? And what should you think about to keep costs under control?
What insurance do I need?
Health insurance for medical expenses is legally required, as is (at least) third-party liability insurance if you have a car, motorcycle or scooter. If you cause damage to someone else with your vehicle, this insurance usually covers the costs. Home owners are required to have buildings insurance, which covers damage to your home (regardless of the contents).
In addition to these mandatory insurances, there are other insurances that are wise to take out in many cases. Consider liability insurance, home contents insurance and term life insurance.
Health insurance
Basic health insurance is mandatory for every Dutch person aged 18 and over. You pay a premium for a basic healthcare package. The amount of this premium varies per insurer.
With basic insurance you are insured against, among other things, the costs of the GP, care and hospital stay and medicines. The care that is reimbursed is the same for all health insurers. That can change slightly every year.
Types of basic insurance
Most health insurers offer two types of basic insurance. An in-kind policy and a reimbursement policy. With both policies, insurers make agreements with healthcare providers, such as general practitioners and hospitals.
With an in-kind policy, the health insurer immediately pays for the care you receive, without you having to do anything. But you can only use healthcare providers with whom the insurer has a contract. If you choose another healthcare provider, you often have to pay part of the bill yourself.
A reimbursement policy is more expensive, but you will receive the same reimbursement from every healthcare provider. Regardless of whether the health insurer has concluded a contract. You may have to advance the bill.
There are various comparison sites on the internet where you can see which health insurance best suits your needs.
Own risk
Everyone with health insurance has a mandatory deductible. You pay the first €385 in medical costs from the basic package yourself. You can increase your deductible by a maximum of €500. You will then pay a lower premium, but you run a greater risk. If you increase your deductible to €885, it is wise to put money aside every month in case you have to pay a healthcare bill yourself.
The deductible only applies if you are 18 years or older.
Additional insurance
In addition to the basic package, you can opt for additional insurance. For example, for glasses and lenses, the dentist or physiotherapy. This additional insurance is not mandatory and you can take out with a different health insurer than your basic insurance.
If you opt for additional insurance, the insurer is not obliged to accept you. You may have to undergo an examination or complete a declaration. You may never be refused access to basic insurance.
Save on health insurance
Sometimes an employer offers joint supplementary health insurance at a discount. You can also sometimes take out such a collective health insurance policy from elderly associations, patient associations or trade unions. These insurance policies may be a maximum of 5 percent cheaper than if you take out comparable insurance yourself.
To ensure that everyone can afford health insurance, there is a health care allowance. This is a contribution to the costs of basic insurance for households with a low income. You can apply for this healthcare allowance from the.
Switching health insurance
At the end of the year you can adjust your health insurance or switch to another provider. What is sensible? And what should you pay attention to?
Home insurance
It is also useful to take out insurance for your home. Such as home contents insurance. This is not mandatory, but it is wise to take out. Most home contents insurance policies cover damage caused by fire, storm or theft, for example.
Home insurance is mandatory for everyone who owns an owner-occupied home and covers damage to the home itself, not damage to the contents. Consider damage caused by fire, burglary or storm. Read more about home insurance and other housing costs here.
Liability insurance
Liability insurance is not mandatory, but it is wise to take out. With liability insurance you are insured against damage you cause to others. In this case, damage means physical injury or material damage, such as an antique vase that you knock over someone else's.
The amount of the premium you have to pay mainly depends on:
- The maximum amount for which you are insured per event
- Your family composition
- Your possible deductible
Car insurance and
If you have a car or motorcycle, third party liability insurance is mandatory. This insurance reimburses damage you cause to others with your car or motorcycle.
You can also opt for more extensive car insurance; limited shell or full shell. You will also be reimbursed for the damage to your own car. Comprehensive insurance is wise for a new car, comprehensive insurance for a slightly older car. For old cars, third party liability insurance is sufficient.
How much does car insurance cost?
The amount of the premium you pay per month mainly depends on the number of claim-free years. The more years you have not caused any damage, the less you pay. The amount of the premium you pay also depends on:
- The region where you live
- The number of kilometers you drive
- The weight of the car
- Your age
- Your possible deductible
Term and funeral insurance
With term life insurance you insure yourself against the financial consequences of the death of you or your partner. You can also take out such insurance if you are not a homeowner, but it is often linked to the mortgage. In the event of death, the insurance will then pay out an amount with which the mortgage is (partially) repaid. This way, the remaining partner can continue to live in the house.
The amount of the monthly premium depends on:
- Your age at the time you take out the insurance
- The term of the insurance
- What amount you insure
- Whether the amount you insure during the term remains the same, becomes lower or higher
- Or a payment is made if one person or two people die
- An increased risk of death (for example due to your health situation and whether or not you smoke). You usually have to complete a questionnaire about this.
The amount of the premium may not differ between men and women. You do not have to pay insurance tax on a term life insurance policy.
Funeral insurance
With a funeral insurance policy you insure yourself against the costs of your funeral or cremation. If you die, the insurance company will pay (part of) the costs. This way, your surviving relatives will not have to deal with enormous costs due to your death.
More about funeral insurance (Consumentenbond)
Also consider this when taking out insurance
When taking out insurance, it is useful to take a number of things into account. This way you will not be faced with unexpected costs.
Renewing and canceling an insurance policy
Non-life insurers are obliged to inform you in time about the date on which your insurance will be extended. You must also receive information about the options for canceling. Usually the contract term is one year. After the contract has been extended for the first time, you have a notice period. This may be a maximum of one month.
Tip: Is your insurer not keeping to the agreements? Then you can file a complaint. Every service provider (and therefore also your insurer) must have a complaints procedure. If you cannot reach an agreement with your insurer, you can contact the Financial Services Complaints Institute .
Read more about renewing, changing or canceling insurance
Avoid over-insuring
It's a shame if you're over-insured. You then pay for something you probably don't need. Therefore check whether you:
- You are not double insured. You then have multiple insurance policies that cover the same thing.
- You are not insured unnecessarily. Consider whether you can and want to pay for it yourself if something breaks. Also check the value of what you have insured. What would you get paid if something happened, and is that worth the premium costs?
Compare and switch insurance
Regularly compare the prices of different insurers for the policies you need. Switching can pay off. You usually have a notice period of one month. But the most logical thing to do is to cancel when the current contract expires.
Tip: if you have multiple insurance policies with one company, ask about discount options.