What insurance do you actually have?
It’s important to know which insurance policies you have and which ones you need. This will give you a more secure financial future – and stop you from paying too much.
Are you double insured?
Double insurance means you have two insurance policies that cover the same thing. This doesn’t necessarily equate to receiving a double disbursement when you use your insurance – and it’s not very clever to pay for insurance that you don’t need.
Many people are double insured without being aware of it. This could be because you are covered through your family’s insurance policies, different memberships or by your employer. Insurance companies do not know where you are insured either – – i.e. this information is not shared.
You should therefore go through exactly what insurance policies you have, what your insurance policies cover, and check that they don’t overlap.
Insurance through work
Before you take out individual insurance, you should check which insurance cover you get through your job. Several workplaces offer personal insurances, for example accident insurance or life insurance.
It’s also quite common to get travel insurance through your employer. This may also cover the employee’s entire family.
In many cases, a combination of insurance through work and insurance you have bought yourself can be the best way to meet your own or your family’s needs.
Insurance through membership
Several organisations and associations offer their members insurance, often with discounts. Therefore, it may be a good idea to check whether you are double insured because you already have insurance through a membership. You may find that you can make considerable savings here, both on insurance policies that apply to you and for the family.
In DNB, members of Norwegian Nurses Organisation (NSF) get good insurance coverage at a good price through their membership. Among other things, these nurses have life insurance included, in addition to favourable terms and discounts on other insurance policies.
Insurance through family
Many people are insured via a spouse or cohabitant without being aware of it. Both home contents insurance and the travel insurance can be extended to apply to the entire family.
Covered by other insurance policies
You are often offered purchase protection in store when you buy electronics or sports equipment, for example. Other special insurance policies that are commonly offered include rental car insurance, cancellation insurance, privacy protection or ID theft insurance. However, these policies are often expensive compared to the value of what is to be insured – and which in most cases will already be covered by travel insurance, home contents insurance or guarantee.
However, it’s important to be aware that purchase protection often has a lower – or no – excess, less reduction of the original value, and other terms and conditions. If you still want to insure an individual item, you can consider our valuables insurance.
My insurance policies
Get an overview of the insurance policies you have at DNB in the online bank and mobile banking app.
What insurance do you need?
Your need for insurance changes throughout your life.
Travel insurance on your credit card
Did you know that travel insurance comes included if you pay for your trip on a credit card? However, there may be other terms and conditions that apply – and the travel insurance only applies when you are travelling, as opposed to full-year travel insurance where you are also covered everyday on your daily small trips.
We recommend almost everyone keeps full-year travel insurance, but travel insurance on your credit card can give you extra peace of mind when travelling.
Has your life situation changed?
Different life phases and situations have different insurance requirements. Have you started a family? Became a single parent? Moved in by yourself or with someone else? When there are changes in your life, you should look at your insurance – and especially your personal insurance. Most people are good at insuring their things, but may not have thought about insuring themselves, their health and their ability to work.
Because how will the family finances be affected if you or your partner become incapacitated for work – or in the worst case, die? It can be an uncomfortable questions to ask yourself, but it is something you should think through. That’s why it’s a good idea to become familiar with insurance you need in different phases of life.
Are your insurance policies spread across different suppliers?
If your insurance policies are held at different providers, you can save money by grouping them.
Did you know that you can get up to 15 per cent discount by grouping your insurance policies with us, and an additional 5 per cent if you are a banking customer as well? We call it bundle discount on insurance – check how much you can save by moving all your insurance to us.
Another advantage of having your insurance in one place is that claim settlements are easier should you actually need to use your insurance: for example if you have both your home contents and house insurance with DNB. You only pay one excess and settlement is easier should your home be subject to damage.
DNB Nyheter (DNB News)
