Why this project?

Many of us have mixed feelings towards insurance companies. 

Take me, I kind of feel that I need insurance to protect me as I have family, have a house and cars. I sign up for insurance after spending quite some time searching for a good deal, while I find it hard to understand what the insurance covers and if this is appropriate for my circumstances. Once signed up, I rely on the insurances’ promise that in the case of something happening to us, they will step in and help us. But will they or will the exemptions give them a way out?

Every year, I get renewal notices, often with increasing premium.  Do I spend hours researching alternative options? No. Usually, I renew and suck up the increase until after a few years I get fed up and make the effort to get a better deal. I have multiple insurances with multiple insurance companies. I lose oversight over my insurances: who am I with, is the insurance up to date, is the premium competitive?

The other issue that I have is the following: I don’t dare to lodge a claim because I expect that this will increase my premium or make it hard to find an alternative insurance. I suck up the costs and not claim the damage, even if the policy would cover it.

There must be better ways to deal with insurances. There must be better ways to decide what and how to insure.

What are your feelings towards insurance companies?