The specialists explain what an optional policy is used for, in addition to the mandatory insurance: A home insurance also covers the goods in the house or the damage caused to the neighbors

Bucharest, November 16, 2023. Leader Team Broker, a key player on the niche insurance market in Romania and Europe, draws attention to the fact that home insurance should be one of the owners’ priorities, and in addition to the mandatory one, it is advisable to purchase an optional policy, under the conditions that this covers, for only a few tens of euros, a variety of the most diverse risks.

The government established that, starting in November, the insurance premium for mandatory home policies (PAD) will increase from 100 to 130 lei, the increase being justified by the increase in reinsurance costs and inflationary pressures. According to official statistics (PAID and INS database), on October 31, 2023, there were under 2 million mandatory policies in force, which means that, in Romania, only one in 5 properties is insured, according to the law.

”PAD is mandatory insurance and must be paid as such, but owners must know that it only compensates them in situations generated by natural disasters, such as earthquakes, floods following heavy rains and landslides. For any other type of incident as a result of which a house is damaged, an optional insurance must be concluded. Thus, if he wants to keep his home and the belongings in it safe, any owner should, in addition to the mandatory insurance, consider signing an optional policy, which covers a much wider range of risks. Whether we are talking about the trivial flooding from the neighbors, or about more serious events, such as house breaking and theft of valuables, optional home insurance offers the guarantee of substantial compensation in crisis situations”, declared Razvan Rusu, founder Leader Team Insurance Broker.

Leader Team Broker, which has in its portfolio the most insurance products on the market and works with over 30 local and international insurers, offers its clients one of the richest offers of insurance policies, including for optional home insurance.

Thus, home insurance policies from Leader Team offer clients the opportunity to customize the insurance package, according to their needs and preferences. Customers can also opt for a series of optional coverages, in addition to the standard ones, that the company offers.

Leader Team policies cover the most diverse risks, such as: flooding from neighbors or from your own installations, vandalism and theft of goods from the home, hitting the home by vehicles, explosions, but also thunder or earthquake.

“The main cause of damage on home insurance is water flooding from the pipes, either from the neighbors or due to one’s own installations, respectively more than 50% of the damage. But those who take out optional home insurance, it will cover all unforeseen risks that may arise, either due to natural causes or following exceptional incidents. The insurance also works to cover goods that are not an integral part of the building’s structure, such as electrical and household appliances, valuable furniture and textile materials or paintings and art objects”, said Alexandra Elena Durbaca, CEO Leader Team Broker of insurances.

Separately, an optional policy can also contain a third-party liability clause, which can prove to be extremely useful in the case of accidental flooding of lower apartments or other types of incidents due to the malfunctioning of electrical appliances or electrical installations.

About Leader Team Insurance Broker

Leader Team Insurance Broker is an insurance brokerage company with a European presence and over 16 years of experience in risk management and insurance. The company is recognized as one of the most innovative insurance brokerage players with unique products for liability, health, cyber security, products for the IT industry, naval industry, aviation, energy, marketing and HR.

In 2021, Leader Team Broker received in UK-London, the distinction of “Insurance Broker of the Year”, within the Corporate LiveWire awards, for the degree of creativity and innovation of insurance products, designed for the new industries under development and which covers the new challenges of the business environment. The jury appreciated the way in which Leader Team Broker breaks patterns and comes up with creative products, for industries in full expansion and for the most diverse risks.

In 2020, the company’s performance was rewarded by the publication Piata Financiara with the title of “Insurance Broker of the Year” and Financial Intelligence with the distinction of “Cybersecurity Insurance of the Year 2020”.

The London publication “Treat Technologies” dedicated to cyber security news included Leader Team Broker in the top 20 companies worldwide that offer the best solutions and insurance products in “cyber insurance”. In 2017, the company received the “Most Creative Insurance Broker in Romania” award, offered by Media XPrimm, and in 2019, it received the “Innovation and Digitalization” award, being the only brokerage company that used RPA technology for repetitive financial operations . The company was awarded in 2020 by the publication Piata Financiara, at the e-finance Gala, with the “e-Risk” award for the best product intended to prevent and cover the risk of cyber attacks.

Leader Team is the only insurance brokerage company that developed the iDoctor concept, an integrated program of national and international medical services, based on a personalized insurance program.

Details on https://leaderteam.ro/en/
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