Insurance Mountain: See All Your Insurance Policies in One Place
The Insurance Mountain website allows you to view, in one place, the Insurance policies registered in your name, their costs, and cases where there may be overlap between coverages. On this page, we will learn how to use the website, identify duplicate Insurance policies, generate an Insurance history report, and assess which policies should be kept, updated, or cancelled.
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One of the major challenges in managing money is keeping track of Insurance policies. Many of us hold policies purchased over the years through agents, workplaces, or banks, and it can sometimes be difficult to know what we are paying for. The Insurance Mountain website was established by the state to provide you with a complete, free overview of all Insurance policies registered in your name.
How does it work?
After a brief identification process, the website displays a consolidated report of all policies and service agreements that were in effect during the past month.
What will you see in the report?
- Type of Insurance (health, vehicle, life, etc.)
- Name of the insurer and the policy
- The exact monthly and annual cost
Identifying Duplicate insurance coverage
One of the important services on the website is flagging cases where there is concern about Duplicate insurance coverageA situation in which multiple policies cover the same risk, resulting in unnecessary premium payments.—that is, a situation in which you are paying two different companies for precisely the same risk.
Where does this usually happen?
- Two personal accident policies.
- Two property policies for the same vehicle.
- Overlap between different medical coverages.
Insurance history: a discount on vehicle Insurance
Insurance Mountain enables you to generate a no-claims report for the past three years. If you have been a careful driver and have not filed any claims, you can present this report to any company you choose and receive a significant discount on the PremiumThe periodic payment made to the insurance company.. The report can be generated immediately and free of charge.
Sending reports for external review
Would you like a professional to take a look at your portfolio? The website allows you to send reports directly to your email, an Insurance agent, or a financial advisor. This is an excellent tool when you want to conduct a periodic "systems review" or compare new offers with what you currently have.
Frequently asked questions
Does using the website cost money?
No. The service is provided free of charge by the Capital Market Authority for the benefit of the public. There are private websites with similar names that impersonate the free website, but their services cost money.
Can you also view Pension and study funds on the website?
No. For Pension savings, use the "Pension Clearinghouse" (which we will discuss in detail in the Pension chapter). Insurance Mountain is intended for Insurance policies only.
What should I do if I find Duplicate insurance coverage?
It is recommended that you compare the terms of both policies. If they are indeed identical, contact the more expensive or less suitable company and ask to cancel the policy.
In summary
A quick check of "Insurance Mountain" once a year is one of the simplest and most worthwhile steps you can take for your wallet. The information is there—you just need to access it.