To be or not to be… properly insured?

Here’s how to tell the difference between standard cover and truly high-quality protection.

First, and this is no cliché, look at service and reputation. Sometimes the same wording is interpreted differently by two professionals. Why? Simply because, as in other fields, some professionals and companies are truly committed to excellent service. Service is above all an attitude. Who hasn’t had two completely different experiences in the same type of situation - whether in a restaurant or when buying a computer - one excellent, the other awful? Insurance is no exception. In fact, insurance is the perfect paradigm of the rule. Can you imagine a product that is more subjective, where you are essentially buying a promise on a piece of paper, full of clauses, exclusions and warranties to limit the coverage? Making sure that the professional who will interpret that promise has a strong reputation is key to helping Hamlet resolve his dilemma. Not only at the claims stage, but also when customising your policy to your needs at the outset. If the policy has not been properly tailored, no claims service will be good enough to help you win the fatal duel.

Secondly, disasters may feel remote but don’t underestimate the claims that “never happen.” An earthquake “never happens”? Well, it’s unlikely you’ll face a devastating one, but you don’t want to risk homelessness by leaving it uninsured. What about a wildfire? Just three years ago we all witnessed the “never happens” happening, when fire spread far further towards the Algarve coast: once thought unthinkable until it happened. The same applies to landslides and subsidence - you don’t want the weight of water to bring down your land and cause major damage to your property. It is vital not to neglect protection against unlikely events and we do tend to only think of the unexpected or unlikely after it has happened. And, since the unlikely by definition doesn’t happen very often… These events can kill your house, like Polonius, by accident - and they are the very ones where financial protection matters most. If you face one of these uninsured, having chosen to save a few euros today could leave you tomorrow like Ophelia - drowning in despair. And there will be no point in blaming your insurer or agent as Claudius. Revenge won’t restore what you have lost.

Third, look for a policy suitable for quality properties. Standard insurance is good for… standard properties. If you own a villa, a luxury apartment or high-value contents, standard insurance will not meet your needs, you need cover that reflects their true worth. From rebuild costs to water damage, aesthetic repairs to damage outside the main building, average clause to limits on high-value items - standard policies are full of these and dozen other traps that restrict protection for higher-end homes.

Last, and never least, price. At Innovarisk, we have recently improved our product offering: upgraded cover at a lower price. It is now more accessible than ever, and there are fewer excuses than before to make the mistake of not to be.

Our team has been providing high-quality insurance in Portugal for 23 years, in different formats and with different insurers - but one thing has never changed: the unrivalled satisfaction of our customers.

Don’t leave your assets to chance, drinking from the poisoned cup of standard insurance. Choose quality insurance - and resolve the dilemma once and for all.

Gonçalo Baptista, Innovarisk CEO

Innovarisk Lda

Av. Duque de Loulé, 106 – 7º & 8º, 1050-093 Lisbon

Phone number: +351 215 918 370

Email: geral@innovarisk.pt

Website: https://innovarisk.pt

Our products for foreign homeowners in Portugal:

https://innovarisk.pt/produto/home/

https://innovarisk.pt/produto/homeplus/