Insurance is a must-have item that simply grates most customers. There is no real benefit to it if nothing happens, but consumers are better off for having it in case something does. The ideal insurance range offers customers exactly what they need while making their application, maintenance, and claim process simple and easy. The Rabobank Insurance range promises to be healthy and provide a range of options, but is it enough to rank high when compared to other banks globally?
Find out how this range compares to that of Bank of Ireland.
Rabobank is an international financial service provider, that has their roots in agriculture. When a group of farmers decided they needed an agricultural bank, back in the late 19th century, the first of the agricultural cooperative banks were found.
Since then Rabobank has grown into the banking giant it is today, offering an array of services including retail banking, wholesale banking, private banking and loans and insurance. Although the majority of its market share is in agriculture, Rabobank has successfully branched out n day to day banking and offer a wide range of products.
Rabobank Insurance Product Offerings
Rabobank is providing insurance to the public via their insurance company, Interpolis. Interpolis offers several different insurance options, such as:
Motor Vehicle Insurance
This section covers all vehicles from a scooter right up to a caravan. It also includes boats and yachts. In vehicle insurance 3 different options are available.
- A W/A insurance which is required by law. This insurance just covers the basics like damage to your own car, the other car, people, and belongings. This insurance is popular with owners of cars older than 10 years.
- the next package is the W/A +Limited Casco. In this package customers are also covered for damage to their own car such as a broken window as well as damage due to burglary, fire or storms. This option is more popular with owners of cars between 6 and 10 years old.
- Then the fully comprehensive insurance, W/A + Full Casko that pays for basically for everything including damage caused by you and vandalism to your car. This option is particularly popular by owners of cars younger than 6 years.
Living Insurance is a group of insurance options that will insure your home and the contents of your home and even belongings stolen from you outside your home.
- Theft of sensitive goods like CD’s,DVD’s, computers, cell phone you will be paid online at 40% .
- Whether it is a fire, or a severe storm, a leak in the bathroom or even damage caused by a burglary, the facts is that if your home is uninhabitable or unrentable because of these factors, you need to get it fixed as soon as possible.
- Even if your house is being rented out temporary, like on Airbnb, the house is still covered. This covers all things pertaining to the structure and mechanics of the house.
- The Outside Door insurance covers everything that you might take with you or use outdoors.No more need for mobile insurance. This policy covers mobile phones,laptops, tablets, earphones, and chargers.
- With mortgage protection, you ensure the risk of loss of income in the event of incapacity for work or unemployment. You can continue to pay your mortgage from the monthly payment. The insurance is a temporary solution so that you can recover or find a new job.
- Student Household Insurance Interpolis offers a student household insurance to suit cash-strapped students. Students are entitled to a 20% discount on their household insurance for as long as they are full-time students. The usual conditions are applicable.
Rabobank also has a range of current accounts designed for everyday bank. The full review is available.
Travel insurance is there to make sure that your holiday does not land you in debt or leave you stranded in a strange place.
Continuous travel insurance is for the person that travels often and continuously. The short-term travel insurance is for the person that travels maybe once or twice a year and will insure a specific trip per year. Both options get you:
- Insurance on you and your travel companions companions while you are on holiday against loss and injury.
- Online access and 24 hours emergency assistance
- Direct assistance with just one phone call.
Cancellation of Insurance
The cancellation Insurance is also available in a continuous or short term insurance and will protect you from cost incurred due to travel cancellation.
- Includes serious illness, or accident, dismissal or even pregnancy or divorce.
- the full sum of travel cost paid over in 48 hours, should you have to cancel or postpone your trip.
- the option to choose between continuous or short term cancellation insurance.
Care & Family
Various Health Insurance packages are available from the very basic CareCompact to the more comprehensive CareActive. in the basic Care Compact you get:
- 100% free choice of the hospital
- online access to arrange healthcare to keep the premiums low
- smart combi [plan at a small additional cost to include dental benefits
while the more comprehensive Care Active offers:
- A customer service rated at 8
- a range of additional packages to add at a ridiculously low cost
- a dental plan that is well worth the money spend
- a plan that is popular with the majority of clients
The Inkomens Zeker Plan
Occupational Disability is covered in the The Inkomens Zeker Plan. The ideal insurance for an entrepreneur to protect his or her income in the case of a disability be it temporary or permanent. This plan:
- will secure your income, should you not be able to work
- is adapted to suit your unique circumstance
- will pay out in the case of pregnancy as well
- Personal guidance will be given in the case of Occupational disability
Legal Insurance is applicable in quite an array of legal situations to be taken care of. All of the issues are covered in a convenient all-in-one policy.
- Consumer & Home is purchases in general, home owned or rental home, medical treatment and permits and zoning plans. The age-old trouble with the neighbours is also covered.
- Work and Income deals with trouble at the workplace, salary issues, pension payouts and student loans or finance
- Traffic be it a car, cyclist, pedestrian or even a passenger in a bus, plane or train.
- monetary issues such as tax problems, investment , asset management, tax management or second home or holiday home in Europe.
Accident Insurance Policy
An Accident Insurance policy will pay you a lump sum should you become disabled in an accident.
- You will be able to sign on until the age of 70 years, including your 70th year.
- Dental cost to repair damage resulting from an accident
- You can insure your partner and children as well.
Liability Insurance is what you need things happen in your life, that you really have no control over. This will make sure you are covered in the case of:
- Personal injury caused by you , a direct family member or your pet
- Damage caused by your home or garden
- Damage caused by lodgers
This insurance offers you the following benefits:
- Damage insurance world wide
- Coverage for the whole family
The Term Life Insurance pays out a lump sum to your beneficiary in the case of your death.
- you can ensure your partner as well
- Pay amount is based on your date of birth, which means you will never “overpay” on your premiums.
- Most of the applicant, about 99% are medically accepted.
Annuity Retirement Policy
The Annuity Retirement Policy will ensure that you have an income after you retired, with the following points to note:
- You pay taxes and premiums on the regular payments
- Benefits will stop after your death unless you have made alternate arrangements
- You determine the size and the period of the payout
Interpolis Purchase Settlement Policy
The Interpolis Purchase Settlement Policy provides a means for you to invest money in a Life Annuity when
- The current policy reaches it's payout date and you do not need the payout
- Customers need to merge a few annuity Policies and still retain the benefit of old tax laws
- If they have a strike profit that they would like to add to their annuities
- Finally, they are paid employment provident fund and need to keep it for the day they retire.
Interpolis has various options available to insure your business, to cover building and transport. Insure your finance and provide insurance cover for your employees and yourself.
- Businesses that have less than a €1 000 000 turnover benefit from this policy.
- Companies Compact Policy is better suited for companies that has more than €1 000 000 turnover.
- Private Insurance is flexible to suit you and your business environment .
Deutsche Bank also offers insurance and a recent review was done.
What We Like About Rabobank Insurance
This is a convenient range of products that will suit a number of needs. Furthermore, customers are able to access the products online and through the Rabobank App. This prevents them from having to go to the bank in the event of incidents.
Furthermore, most of the packages have a €0 deductible which is great for those who are looking to save on their policies. Customers can cancel all insurance with one day notice which is ideal for those who want a quick and efficient exit out of their policies.
Also, the travel insurance allows you to close the deal 5 min before take off which is good news for those who may have forgotten to get their plans in place. In the health insurance you have a 100% freedom of choice of institution which is not always an option for customers.
Finally, Interpol insurance is flexible and customizable to suit the needs of the consumer. There is also a friendly online service to help customers choose the right package to suit their needs.
What We Don’t Like About Rabobank Insurance
For all its efficiencies, Interpol policies may not agree with everyone. The €0 deductible on most policies might be a problem to clients that don’t claim often. Normally when there is a €0 deductible it means that the premiums increase, thus meaning that those who don't claim very often might feel that they are negatively affected by the higher premium as they don’t benefit from it.
Critical Reviews Rating Rabobank Insurance – 10 of 10
Rabobank offers a range of insurance products that have unique benefits. The range is comprehensive enough so that customers don’t have the need to look at other institutions to cover them in a time of need. They also provide some additional benefits that will make the entire process a little more agreeable to customers.
As far as convenience goes, this range is right at the top. Online from start to finish means customers have more time to do the things they want. Online and telephone support ensure that customers continue their application or claims process even when they get stuck or are unsure.
Finally, even though there is the case about the deductible and how it affects other policies, we can hardly rate the bank down for it. It is an industry norm and we’ve decided not to penalize the bank on it. A well-deserved perfect score.
Find out how this review compares to that of Royal Bank of Scotland's Insurance range.