Which types of insurance are mandatory and which are recommended?
Whether it’s your home, car, family, accidents, travel assistance, death, income or retirement, there is insurance to cover just about every aspect of your life. The range of cover is so vast and complex that it’s difficult to see things clearly, even though it all seems to make sense. But what exactly do you need and what is mandatory?
Legally and contractually required insurance cover
Legally required insurance
You are required by law to take out certain types of cover in Belgium.
Illness and disability insurance must be taken out with a health insurance fund.
Third-party motor insurance is mandatory if you drive a motorised vehicle (i.e. a car or motorbike). It is valid in Belgium and in those countries not crossed out on the certificate of insurance that you are required to have with you – either in paper or digital format – when driving.
Industrial accident insurance is mandatory if you employ people who work in your home (but not through a service voucher agency).
Home insurance is compulsory if you rent a property in Belgium and covers you should you be held liable for fire and water damage. It is not mandatory for homeowners.
Hunting insurance covers material damage and bodily injury you accidentally cause while hunting.
Contractually required insurance
There are also certain types of insurance that are not mandatory, but that still have to be taken out as part of a contract. Loan balance insurance is taken out with a mortgage loan (to buy a home) and covers some or all of the outstanding loan amount in the event of an unexpected death.
Not compulsory, but worth taking out
Family insurance
Family insurance isn't obligatory, but 80% of people in Belgium still have it. It can save you a huge amount of financial worry in that it covers any harm you cause to others but also helps you obtain compensation should someone cause you harm.
Hospitalisation insurance
Hospitalisation insurance covers your medical expenses if you need to be hospitalised due to illness, an accident or for childbirth. This includes the admission-related expenses and the cost of preliminary care and follow-up treatment.
Home insurance for owners
When you take out home insurance – also referred to as ‘property insurance’ or ‘fire insurance’ – you’re covered for any damage to your home or its contents (for instance, the cost of repairing damage caused by a fire, storm, flooding or snow).
Pension saving
Pension saving is a way for you to supplement your state retirement pension with additional income. You can choose to put your money into a life insurance product or to invest in a pension fund.
You’ll quickly see that there are plenty of options open to you. So, take some time to think about what exactly you need for your particular situation. Your insurance broker or KBC agent will be happy to help you decide.
More information about family insurance
What is and isn’t covered?
Covered
- Loss, damage or injury caused to other individuals
We will compensate the person who suffered the loss, damage or injury. The policy also covers any loss, damage or injury caused by your animals to other individuals. - Loss, damage or injury caused by the actions of another person
We’ll help you get compensation from the liable party. If they are unable to pay, we’ll pay up to 12 500 euros in compensation. This figure is doubled in the case of bodily injuries.
Not covered
- Loss, damage or injury which you cause to yourself or family members
- Loss, damage or injury resulting from gross negligence on the part of a member of your family aged 18 or older
- Loss, damage or injury caused intentionally by a member of your family aged 16 or older
- Loss, damage or injury caused by your riding horses or by animals that you, as a private individual residing in Belgium, are not allowed to keep
- Fines and out-of-court settlements
- Disputes in which you are involved as the owner or driver of a motor vehicle that is subject to compulsory motor insurance
Compensation and deductible
- For bodily injuries, we provide cover of up to 30 million euros per claim event and there's no deductible to pay.
- We provide cover of up to 10 million euros for material damage and you pay a deductible of 250 euros per claim event.
Good to know
- This product is governed by the laws of Belgium.
- {{right of cancellation}}
- Your intermediary is the first point of contact for any complaints you may have. If no agreement can be reached, please contact KBC Complaints Management, Brusselsesteenweg 100, 3000 Leuven, complaints@kbc.be, tel. 016 43 25 94. If you cannot find a suitable solution, you can contact the Belgian insurance industry's ombudsman service: Ombudsman van de Verzekeringen, de Meeûssquare 35, 1000 Brussels, info@ombudsman-insurance.be, www.ombudsman-insurance.be.
- This does not affect your legal rights.
To request a premium calculation for KBC Family Insurance, visit www.kbc.be, use KBC Touch or KBC Mobile, or contact your Insurance Expert.
KBC Family Insurance is a product provided by KBC Insurance NV, Professor Roger Van Overstraetenplein 2, 3000 Leuven, Belgium.
VAT BE 0403.552.563, RLP Leuven, IBAN BE43 7300 0420 0601, BIC KREDBEBB.
Company licensed by the National Bank of Belgium, de Berlaimontlaan 14, 1000 Brussels, Belgium, for all classes of insurance under code 0014 (Royal Decree of 4 July 1979, Belgian Official Gazette of 14 July 1979).
Member of the KBC group
