The Ten Biggest Mistakes People Make with their Insurance in Israel
Working for more than 30 years in the insurance field we have managed hundreds of claims. Here is a list of the biggest mistakes that you do not want to make with your insurance.
1. Pay your “chova” compulsory policy on time! If the police stop you on the road, and your car insurance is not paid you have a problem. If God forbid you are involved in an accident you are not covered.
2. Do your check up of car protections –haganot- on time! From time to time you are asked to do certain checkups on your car protections. Many people are not efficient in dealing with this. If the car is stolen and you didn’t do this checkup- you have a problem.
3. Do not drive with a license that is out of date. If your silence is out of date- you are not covered. If you are driving with a foreign license- after a year in Israel you have to have an Israeli one. I personally know a case where the insurance company refused to pay since the person driving was using a French license.
4. Did you buy new things for your home? Inform your insurance agent! If something happens to a significant item and you didn’t tell the company – your home insurance does not cover, you are not covered!
5. Check your assessment! When you do an apartment insurance policy the insurance company sends a person to make a list of your belongings. Ask to see their list- if everything there looks good- excellent. But if not- feel free to talk to him about it.
6. Insure your drivers properly! We had a few cases where clients covered themselves only for certain ages and at the time of the accident- they were not covered! We fought for our clients and in the end they received compensation!
7. Do not forget to do travel insurance before you go abroad! Your private health insurance policy does not cover you efficiently abroad. Travel insurance also covers your suitcase. You must take out a policy before you leave Israel.
8. Be cautious before cancelling your comprehensive cover. When the value of the car is less than 20,000 shekels it is time to consider doing third party only Ie having cover for damage to other cars only.
9. Do not do polices on the phone! The direct insurance companies are experts in this. People do not understand what they are paying for. If there is a problem- who do you turn to? Do not do insurance policies on the phone!
10. Check your polices! From time to time people come to me- and I find myself advising them to cancel polices! For years they have being paying thousands of shekels without reason! From our experience in Segal Insurance we learnt to keep a list of dates and events during the insurance year to avoid things being forgotten which can lead to serious problems
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