Belgium

The importance of insurance in Belgium

Insurance essentially protects people from paying a large sum of money out of their own pockets in case of any mishap or accident. It also helps them save for the future. This is why it is an important part of the lives of many people over the globe.

Insurance is an integral part of the lives of Belgium’s citizens. There are both public and private insurance companies in Belgium. Public insurance is funded largely by the state, which uses tax money to provide insurance for people who cannot afford it on their own.

Different types of available insurance

There are many different types of insurance policies offered by insurance companies in Belgium. Some of these types of insurance are more popular than others. These include

1.   Health Insurance

Health insurance is an absolute must for people living in Belgium. The state covers health insurance for citizens who are either too old, too young, or are unable to earn a living for themselves. This includes people with disabilities.

If you are a European citizen who is visiting Belgium for a holiday, you will receive certain benefits and you will be able to use your own health insurance in some cases.

If you are a new citizen and you have recently registered for health insurance in the country, you will have to wait a period of around six months before you are given the amount of money you spent on healthcare since you started living in the country. 

2.   Life Insurance

Belgian citizens often get Life Insurance. This helps them secure their family’s future in the case of a horrible accident or sudden death. If the policyholder passes away suddenly, the Life insurance policy provides a certain sum of money to their family.

There are many insurance companies in Belgium that offer Life Insurance policies. These policies are offered in a variety of packages that can be tailored to suit the needs of the customers.

3.   Motor Insurance

Car Insurance is also fairly common in Belgium. In fact, if you are a citizen of Belgium, you need to get motor insurance. If your car has been imported from another country, you still have to get the car insured.

Most motor insurance policies offer three levels of coverage. These include a fully comprehensive level, a partly comprehensive level, and a third party liability level. The Fully Comprehensive offers great coverage but at the cost of a higher premium.

The Partly Comprehensive covers damage done to your vehicle by someone else and also covers damage done by accidents like fires. And lastly, the Third Party Liability, as the name suggests, covers damages made by you to other peoples’ property or vehicles.

3 Best Insurance Providers in Belgium

There are many insurance companies in Belgium. However, one of the top companies that offer the best services include

1.   AIG

AIG offers insurance plans for both consumer and corporate customers. This means that not only individuals but businesses can also get themselves insured by this company. AIG is famous not only in Belgium but the whole of Europe as well.

They offer a variety of types of insurances. These include insurance plans for travel, health, life, and different assets (i.e. the house or the car).

In addition, AIG is extremely accommodating and also offers services that help the customer not only understand which insurance policy is best for them but also reduce the cost of their risk.

Their website is also extremely comprehensive and clearly provides all contact numbers through which an interested customer can easily contact a representative who will assist them.

2.   Immoweb

Immoweb provides insurance mainly for homes. Their insurance plans are designed especially for people who go on rent. The insurance policy usually covers damage sustained by the house that has been rented out. This includes damage by fire or similar accidents.

You can easily search for insurance quotes on their website. You can also calculate the amount of premium you will have to pay. This company offers 24/7 online assistance and you can contact a representative whenever you want.

Furthermore, there is a range of things that are included in their basic plan. These include damage by fire, water damage, damage that is caused by smoke, and damage caused by electrical accidents.

They also offer the option of choosing an additional family civil liability. This helps ensure not only the house but also your family from third-person damages. Immoweb offers reasonable premiums and one of the best services in the Belgian market.

3.   Grosso Insurance

Grosso is also one of the top insurance companies in Belgium. They can be contacted from Monday-Sunday from 8 am to 7 pm. They can also be contacted through the email that is mentioned on their website.

Grosso operates in France, Belgium, and Luxembourg. They offer an excellent variety of insurance policies related to home, pets, car, and life, etc. They also offer financial advice.

Thus these are one of the best insurance companies in Belgium that offer decent services to their customers.