Our 3-Year Experience with Belneftestrakh: Insurance Claims, Savings, and a Few Disappointments

I still remember the day we decided to get our home insured about 5 years ago, right after we finished renovating our place. We figured it was a no-brainer, and we also started insuring our health at the same time. We initially went with Promtransinvest, but later switched to a different provider. Today, I'm here to share my thoughts on Belneftestrakh, the insurance company we've been using for both our home and health insurance, as well as our cars.

There's a lot to cover, so let's get started.

How long do they insure for? Our policy is usually for a year, and our most recent policy was for 365 days.

Insurance company Belneftestrakh: accident insuranceThe premium amount can vary. You can choose from the available tariffs, and we opted for a premium of 168 Belarusian rubles (for two adults and two kids aged 5 and 11).

One thing that's worth mentioning is that you can pay the premium directly with the insurance company, and they'll issue a receipt.

Insurance company BelneftestrakhYou'll also need to keep in mind that the policy doesn't come into effect immediately after signing. There's a 7-day waiting period. Why am I stressing this? Well, if something happens during this period, you won't be covered. But don't worry, all the terms are clearly outlined in the policy - and they're not buried in tiny print, either.

Now, let's talk about insurance claims.

INSURANCE CLAIM DUE TO ILL HEALTH

We managed to get insured on February 14th, but the policy only kicks in on February 21st. Just two days later, on February 22nd, our daughter broke her finger on the hand during a PE class. If this had happened a week earlier, we wouldn't have had any insurance coverage.

So, what happened?

During PE class, her classmates were playing basketball, and they threw the ball to her, but she awkwardly stretched out her fingers. The basketball is heavy, and the ball flying at high speed is even more so. The result: a throbbing finger. We even thought it was just a bruise at first, but we ended up taking her to the polyclinic to see a doctor. And on the X-ray, it turned out to be a fracture. The result: a 3-week cast.

Filing a claim with the insurance company is relatively straightforward. You can only file a claim after the cast is removed and the doctor writes a statement saying you're healthy. You need to inform the doctor that you need a statement for the insurance company. With that document and the claim form, you can submit it to the insurance company.

They review the claim and the doctor's statement, and then, depending on the severity of the injury, they pay out the insurance coverage amount.

For example, in our case, Belneftestrakh paid out 200 Belarusian rubles (around $78 or 5,900 Russian rubles) for our daughter's broken pinky finger on her left hand. This means that one fracture covered the entire amount of our insurance premium. As a mom, I wish my kids wouldn't break anything, and this insurance would be completely unnecessary. But our older daughter already broke her hand when she was 2 years old - she just jumped off the couch and fell on her hand. We were sitting at a distance, watching her fall, and couldn't even react. We didn't have insurance at the time, so, of course, we didn't receive any payouts. The injury was even more complex than the broken finger this year. And then, when our kids started going to clubs, we decided it was better to insure them.

So, how do you get the money?

Insurance payouts for individuals are made to a bank account in Belinvestbank (you don't need to have an account there). Just bring your passport to the bank and collect the payout for the insurance coverage. That's what we did in our case.

Now, let's talk about insurance claims due to property damage - specifically, car insurance.

My husband has been using the same insurance company for years to insure our cars, getting the mandatory civil liability insurance (OSAGO) every year. The photo shows exactly what I'm talking about - OSAGO.

Belneftestrakh insurance companyBelneftestrakh insurance companyBelneftestrakh insurance companyFor each car, we have an additional policy for KASKO.

So, the details.

You can contact the insurance company in case of a KASKO insurance event (accident) without calling the police - twice a year.

But, there's a catch. The cost of payments will not exceed 5% of the insured object's value.

So, what do you need for the first KASKO claim?

Police report or a completed accident report formTechnical passport for the damaged vehiclePassportDriver's licensePower of attorney (if you're not the car owner)If there is a police call, you'll need to contact the insurance company in the usual way.

In this case, the payment amount will depend on the extent of the vehicle damage. It's determined by an appraiser. Some companies have one on staff, but Belneftestrakh doesn't, so an independent expert evaluates the damage. They inspect the vehicle and make a conclusion about the damage. It's officially documented and sent to the insurance company. Photos of the damaged parts and areas are taken and attached to the conclusion. The conclusion states the repair cost and parts.

One thing that's worth mentioning is that if your vehicle is fully depreciated, the wear and tear isn't factored in. Otherwise, you'll have to account for the vehicle's depreciation based on the year it was made.

There are two ways your payments can be made:

directly into your designated bank account;into a bank account calculated by the insurance company or the repair shop's actual costs. By the way, each insurance company has a list of recommended repair shops where you can get your vehicle fixed.After the repair, the insurance agent will take photos as proof and send the documents to the insurance company.

So, why is this necessary? It's to ensure that if you get into another accident with similar damage, you'll be eligible for another payout. If there are no photos, they'll assume the vehicle wasn't repaired.

A nuance: if you've had previous claims on your vehicle, your premium will increase when you renew your policy. This applies to both compulsory and voluntary insurance.

Now, let's talk about how you can save money.

There are a few ways to save on both compulsory and voluntary insurance:

pay your premium in full upfront instead of breaking it down into installments;if you have certain credit cards, you might be eligible for a discount (check with your insurance company for the list of eligible cards);insure multiple vehicles at once and you'll get a discount.For example, my husband switched to Belneftestrakh for two vehicle combinations and saved $2700 a year. That's a significant amount for a small company's budget.

So, what are some positives about this insurance company?

they have multiple offices across Belarus, including some at Belneftestrakh and Belorusneft gas stations;their website is well-organized, with sample claims forms and other useful information;they offer various insurance programs;they have discounts;they've always made payments on time.And what are some negatives?

No SMS notifications about expiring insurance coverage (I've seen similar notifications from TASCO);Claims under KASKO are calculated based on a program that factors in the cost of cheap Chinese parts, not the originals. And to make matters worse, there's regional pricing: if the company is registered in a specific area, labor costs (based on hourly rates) will be lower than in the city. To me, that's just natural discrimination (what if there aren't enough skilled specialists in the area, or they're not qualified to do the job, or you just want to work with a trusted and reliable service?). My husband has encountered multiple instances of underpriced parts, based on the cheapest options the program could find;Incompetent staff (my husband's had issues with this when getting KASKO claims settled).I'd rate my experience with this insurance company as decent, but there are nuances that depend heavily on the competence of the staff. Taking all factors into account, I'd give Belneftestrakh 4 out of 5 stars.