What should we know before purchasing insurance cover
In the modern world it is possible to be covered against almost all risks. To choose the insurance product you need, you must know what you want to insure, what risk is likely to arise, and whether you need to share possible financial losses with your Insurer.
You can buy insurance cover from insurance company, Insurer’s agent or insurance broker, both directly and remotely.
It is important to provide the Insurer with full information and all known circumstances that may affect your insurance cover.
Insurance terms and conditions include the risks insured and the circumstances, in which the Insurer will be free not to reimburse the loss. In order to have the right expectations, it is important to know all the insured risks and exclusions.
You should also pay attention to the conditions and amount of the deductible, and consider that the conditions and amount of the deductible will affect the amount of insurance premium.
Please, note that despite the date of policy inception, the Insurer will be free not to reimburse the loss, if the insurance premium or its first installment is not paid in full.