The Importance of Insurance in Estonia

Estonia ranks 38th in the world according to GDP per capita. It is considered the most successful country in terms of an economy that has joined the EU’s Eastern European Members. Due to a relatively strong economy, the citizens of this country enjoy many privileges.

These include good healthcare and education. Other benefits also include a lower crime rate and good job opportunities.

Due to this, many of its citizens have access to good quality insurance coverage. This is because Estonia has many insurance companies that offer great deals and packages on all kinds of insurances.

Types of insurance in Estonia

There are many types of Insurance policies that have been made available by insurance companies in Estonia. Certain policies are more popular among citizens. These policies include

1.   Health Insurance

Every citizen in Estonia is required to have some form of health insurance at all times. They could get insurance coverage from a private insurance company or get public health insurance provided by the Estonian State.

Employers are also required to pay for their employees’ health insurance. Furthermore, the state provides health insurance coverage to citizens that either cannot afford it themselves or are not in the physical or mental state to work and earn a living.

This includes young children, old citizens, and disabled people. Furthermore, you must be a registered national citizen of Estonia to be eligible for their public health insurance benefits.

2.   Travel Insurance

Travel Insurance is also fairly common in Estonia. Due to their peaceful and natural surroundings, people often like to visit the country to relax and vacation. Travelers tend to get travel insurance which provides all kinds of coverage.

Travel Insurance coverage includes general health insurance which covers treatment in general hospitals. Different plans also include more coverage in terms of health insurance. However, you need to pay more premiums for those policies.

3.   Work Insurance

Work Insurance is also part of many Estonian citizens’ employment contracts. Many employers provide specific insurance coverage to their employees.

Work Insurance essentially makes sure that if an employee suffers some sort of damage, loss, or injury during work they will be provided with coverage for it. This coverage will cover their medical bills and hospital treatment if they have been injured.

However, different work insurance policies have different requirements. This depends on the insurance company that is offering the insurance coverage.

Top 3 Insurance Companies in Estonia

There are many insurance companies in Estonia. Since it is a developing country, more insurance companies are being established. However, some of the relatively older and better insurance companies include

1.   ERGO Insurance

ERGO claims to be one of the best insurance companies in Estonia. They have over 120,000 clients that are growing every day. ERGO specializes in property and life insurance policies and has been operational in Estonia for around 29 years.

They are extremely consumer-friendly and offer policies with affordable premiums. They also have an extremely coherent website that lists down all their information, including their contact details and working hours, clearly.

Their website also has an E-office which is a great addition since potential customers can use that to contact their representatives who are always available.

They have separate sections on their website for private clients and for corporate clients. They also offer financial management services to their corporate clients.

Since ERGO is extremely well established, they have a range of corporate clients. This also makes them more reliable and one of the best providers of insurance in Estonia.

2.   IIZE Insurance

IIZE insurance is also one of the best insurance providers in Estonia. They offer home insurance, Accident insurance, travel insurance, and insurance for mobile phones and other assets as well.

You can use the calculator on their website to calculate the amount of premium you would pay and see if it fits your budget. They also offer many discounts and deals on their insurance policies.

They have around 150,000 satisfied customers which makes them one of the most reliable insurance companies in Estonia. 

3.   Seesam Vienna Insurance Group

The Seesam Vienna Insurance Group is also one of the best insurance providers in Estonia. They offer a wide range of types of insurance. These include motor insurance, travel insurance, and home insurance. They also offer various discounts on their insurance policies.

They are currently offering around a 15% discount on certain travel insurance policies and a 5% discount on certain car insurance policies. All these discounts are mentioned in detail on their website. You can also report claims on their website.

And there is a self-service option as well which helps clients calculate their premiums and compare quotes themselves before getting help from representatives.

Thus, there are many successful insurance companies in Estonia. However, some of the very best insurance providers include Seesam Vienna Insurance, ERGO insurance, and IIZE Insurance.