Taking out insurance

BrusselsLife Team.

05 Jul 2012, 05:07 Last Updated: 26 Feb 2018, 13:02

After having installed yourself comfortably in Belgium, the time has come to think about defending yourself against the risks of everyday life.

"Insuring your home In Belgium, taking out household insurance (called "fire" insurance) is not compulsory. However, all financial institutions and banks require this, just as they make it obligatory to take out insurance on remaining money due when you take out a mortgage. In this way they have the guarantee that the loan will be repaid. This insurance is not usually very expensive, especially as it is tax-deductible.

Protecting your loved ones Family insurance, also known as a global family policy, insures all people living under your roof and is not compulsory by law. You will not be in breach of the law if you do not subscribe to such a policy. Conversely, the law makes it compulsory to insure all workers, even if they only work from time to time. In other words, as an employer you are legally required to insure your cleaning lady, childminder, gardener or handyman against accidents in the workplace.

Insuring your car Do you need to insure you car? Yes, unlike household fire insurance, civil responsibility for car drivers is compulsory in Belgium. You must be insured as soon as your car is on the road. This means that the insurance company will pay damages (either physical, material or moral) caused by a driver to third parties. The contract is always signed for a one-year period, and tacitly renewed as long as one party does not end the agreement..

Medical treatment Hospital insurance can also be taken out on a voluntary basis. You should know that when you go into hospital here the expenses quickly run into thousands of euros. Even after the "mutuelle" has paid its contribution, the bill is still very high. It is therefore interesting to take out a good complementary insurance policy. The most interesting aspect of the latter is that it gives protection against unexpected, often substantial, medical costs, without questioning these costs. The fact remains that in Belgium, although you can take out a policy to cover all of your health costs, this is still costly."