When choosing an insurance company in Moldova, it is important to look not only at the policy price, but also at the licence, reputation, contract terms, exclusions, claims procedure and quality of support in case of an insured event. An insurance broker helps compare offers from several companies, explain the differences between policies and choose an option that suits the client in terms of price, coverage and conditions.
Choosing an insurance company is not a formality. It affects how quickly the policy will be issued, how clearly the terms will be explained and how efficiently the claim will be handled if an insured event occurs. This is especially important for voluntary types of insurance: CASCO, property insurance, travel health insurance, accident insurance and other products where conditions may differ significantly from one insurer to another.
Many clients start their choice with the price. This is understandable: no one wants to overpay. However, the cheapest policy does not always mean the best option. Sometimes a low price is linked to reduced coverage, a higher deductible, more exclusions or a less convenient claims procedure. That is why before buying a policy, it is important to look not only at the final amount, but also at what exactly you receive for this money.
We explain how to choose an insurance company in Moldova, what to pay attention to before buying a policy, how to check reputation and licences, how arranging insurance through a broker differs from contacting an insurance company directly and why working through an insurance broker is often more convenient for the client.
Why it is important to choose the right insurance company
The main purpose of an insurance policy is to protect you financially in a situation where a risk occurs: a road accident, illness abroad, vehicle damage, apartment flooding, fire, injury or another insured event.
If the insurance company is chosen carelessly, problems may appear not at the time of purchase, but later, when help is needed. For example, the client may face unclear contract terms, a complicated document submission procedure, a long review period or a dispute over whether a specific situation is included in the coverage.
A good insurance company should be more than just well-known. It is important that it operates legally, holds a licence, fulfils its obligations to clients, explains the terms clearly and has a well-organised claims settlement process. For the client, three things are especially important: transparent terms, reliability and support after purchasing the policy.
That is why it is better to choose an insurer in advance, not at the last moment. This applies both to mandatory RCA insurance and to voluntary products. If you need to arrange a Green Card, CASCO, travel health insurance or property insurance, it is better to compare the terms before payment.
What to look for before buying a policy
Before arranging an insurance policy, it is important to check several key parameters. They help you understand whether the offer is suitable for your situation.
The first point is who the insurer is. The policy must be issued through an insurance company that has the right to operate on the Moldovan market. You can check an insurance company, broker or another professional market participant on the website of the National Bank of Moldova, in the section with lists of authorised insurance market participants. If you arrange insurance through an intermediary, it is important to understand whether they are an insurance broker or an agent, whether they are included in the relevant register, which insurance companies they work with and what support they provide to clients.
The second point is what exactly the policy covers. The product name may sound the same, but the terms may differ from one insurance company to another. For example, two CASCO policies may have a different set of coverages, deductible, repair rules, territory of validity and exclusions. The same applies to property insurance, health insurance and accident insurance.
The third point is what exclusions apply. Exclusions are situations in which the insurance company may refuse to pay compensation. They are always specified in the contract. For example, in health insurance there may be limitations related to chronic illnesses, active sports or treatment without coordination with the assistance service. In CASCO, there may be limitations related to vehicle use, the driver’s condition, the territory of coverage or the nature of damage.
The fourth point is how the insured event is handled. Clarify in advance where to apply, what documents need to be prepared, within what time frame the insurance company must be notified and who can assist you during the process. General recommendations for actions in different situations can be found on the “Insurance case” page on Superpolis.md.
The fifth point is how you will receive the policy. For some products, an electronic format is available, while for others delivery, a meeting, photo inspection or consultation may be required. This is especially relevant for CASCO and property insurance.
How to check the reputation and licences of an insurance company
Before buying a policy, it is useful to check whether the insurance company operates officially. In Moldova, supervision of the insurance sector is carried out by the National Bank of Moldova: since 1 July 2023, the NBM has supervised the activity of professional participants in the insurance market, including insurance companies, brokers, insurance agents and bancassurance agents. You can check an insurer or intermediary on the NBM website, in the section with lists of authorised insurance market participants. It contains registers of licensed insurance and reinsurance companies, insurance brokers, agents and other market participants.
This check is especially important if you arrange a policy through an unfamiliar website, intermediary or a link received in a messenger. It is safer to make sure that the company or broker is included in the official NBM list and has the right to operate on the Moldovan insurance market. This helps reduce the risk of buying an incorrect, invalid or improperly issued policy.
In addition to official status, it is worth paying attention to the company’s reputation: customer reviews, communication speed, quality of consultation, clarity of terms and how the insurer helps in disputed situations. Reviews should be assessed carefully, but taken together they help understand how convenient it is for clients to work with the company not only when purchasing a policy, but also in case of an insured event.
It is also useful to check whether the insurer works through insurance brokers. A broker cooperates with several insurance companies and helps the client compare offers not only by price, but also by coverage, exclusions, limits, deductible and claims settlement procedure.
→ Check and choose an insurance company through Superpolis.md
Why a cheap policy can be risky
A low price does not automatically mean that the policy is bad. In some cases, the price may truly be advantageous: for example, because of an official discount, an optimal package, a properly chosen deductible or special conditions. However, choosing insurance only by the principle of “the cheapest option” is risky.
A cheap policy may have limitations that become visible only when an insured event occurs. For example, the coverage may be minimal, the insured amount insufficient, the deductible too high and the list of exclusions too broad. As a result, the client saves money at the time of purchase, but receives less protection than expected.
Voluntary types of insurance should be compared particularly carefully. In CASCO, the price may depend on the deductible, list of risks, repair conditions, year of manufacture and value of the car, as well as the age and driving experience of the drivers authorised to use the vehicle. In property insurance, the price depends on the insured amount, object, package composition and limits. In health insurance, it depends on the destination country, duration, age of the insured person, coverage amount and additional risks.
For mandatory RCA, the logic is different: it is a regulated product, but here too it is important to enter the data correctly, check the start date, insurer, validity period and correctness of issuance. An error in documents can create problems during verification or in case of an insured event.
→ Compare insurance products on Superpolis.md
How arranging insurance through a broker differs from contacting an insurer directly
When contacting an insurance company directly, the client receives offers only from that company. This is convenient if you already know exactly who you want to work with, understand the terms well and do not plan to compare alternatives.
An insurance broker works differently. The broker is not limited to the products of one insurance company, but helps compare several offers. The client gets a wider choice and can evaluate not only the price, but also the terms: coverage, exclusions, deductible, insured amount, issuance procedure and support in case of an insured event.
For example, if you arrange CASCO directly, you will be offered the terms of one insurance company. Through a broker, you can compare several options and understand where the terms are better suited: where the deductible is optimal, where the repair procedure is more convenient, where the coverage is higher and where there are additional advantages.
For the client, a broker is especially useful in situations where it is difficult to compare conditions independently. This applies to CASCO, property insurance, health insurance for a family, corporate policies and accident insurance.
What advantages an insurance broker provides
The main advantage of a broker is help with the choice. The client does not need to study the websites of several insurance companies independently, read dozens of conditions and try to understand where the difference is truly important and where it is only a matter of wording.
An insurance broker helps to:
- compare offers from several insurers;
- choose a policy for a specific situation;
- explain the differences between similar products;
- check insured amounts, limits and exclusions;
- choose a suitable way to receive the policy;
- avoid mistakes when entering data;
- receive support in case of an insured event.
Superpolis works as an insurance broker and cooperates with several insurance companies, helping clients compare offers, understand insurance terms and choose the most suitable policy. This approach removes the need to contact each insurer separately.
For some voluntary types of insurance, the broker may also offer more favourable conditions or official discounts. However, it is important to understand that a beneficial policy is a balance between cost, coverage, limits, conditions and level of support.
How a broker helps compare offers
Two policies may have different prices because they have different terms. Sometimes a more expensive option really does provide more protection. In other cases, a more affordable policy may be more suitable if it covers the necessary risks and does not contain critical limitations.
A broker helps compare offers by several parameters:
- insurance company;
- policy cost;
- insured amount;
- list of coverages;
- exclusions;
- deductible;
- territory of validity;
- insurance period;
- issuance procedure;
- documents required for an insured event;
- method of receiving the policy;
- support after purchase.
For example, when choosing travel health insurance, it is important to check the destination country, coverage amount, visa requirements, assistance service and exclusions. When choosing property insurance, the insured amounts, object, property inside, third-party liability and package conditions matter. When choosing accident insurance, the insured amount, term, policy validity mode and set of coverages are important.
It is difficult to compare all these parameters independently. That is why a broker helps the client understand what they are actually buying.
How to avoid mistakes when choosing an insurance company
To choose an insurance company correctly, do not rush. Even if you need the policy urgently, it is better to spend a few minutes checking the key conditions.
Do not ignore exclusions. Exclusions determine the cases in which the insurance company may refuse to pay compensation. They must be checked before purchase.
Do not forget to clarify the procedure for actions in case of an insured event. The client should know in advance whom to notify, what documents to collect and within what time frame to apply.
Do not enter data from memory. When arranging insurance online, it is important to use documents: vehicle registration certificate, passport, personal code, property details or travel details. An error may lead to a delay or incorrect policy issuance.
Do not buy a policy from an unverified intermediary. Insurance should be issued through a legal insurer or an authorised insurance intermediary.
Do not skip comparing offers. Even if one offer seems suitable, another insurer may sometimes provide better coverage, more convenient conditions or a more favourable price.
→ Get consultation and choose insurance through Superpolis.md
When it is especially worth contacting a broker
It is convenient to arrange almost any policy through a broker, but there are situations where the broker’s help is especially useful.
If you are buying CASCO, the broker will help compare the conditions of several insurers, the deductible, coverage, photo inspection requirements and claims settlement procedure. If you are insuring an apartment, house or property, the broker will help you understand which categories are included in the package and which insured amounts are better to choose. If you are arranging health insurance for a family, an elderly person or a trip to several countries, the broker will explain which limitations to pay attention to.
A broker is also useful for business: corporate vehicles, offices, commercial real estate, employees, business trips and other insurance tasks often require an individual approach. In such cases, it is important not only to obtain a policy, but also to assess risks correctly and arrange protection without unnecessary gaps.
A broker also helps in case of an insured event. This is one of the key advantages: the client is not left alone with documents, deadlines and questions from the insurance company.
Frequently asked questions
How to choose an insurance company in Moldova?
Look not only at the price, but also at the licence, reputation, contract terms, exclusions, insured amount, deductible, claims procedure and support in case of an insured event.
What is more important: price or coverage?
Price matters, but coverage is more important. A cheap policy may have limitations that become a problem when an insured event occurs. It is better to choose a balance between cost and real protection.
How does an insurance broker differ from an insurance company?
An insurance company offers only its own products. A broker compares offers from several insurers and helps choose the right option by price, conditions and coverage.
Can insurance be arranged through a broker online?
Yes. Through Superpolis, you can arrange or submit a request for different types of insurance online: RCA, Green Card, CASCO, health insurance, property insurance and accident insurance.
Does a broker make the policy more expensive?
Not necessarily. For some voluntary insurance products, a broker may offer official discounts or more favourable conditions. It is important to compare not only the price, but also the content of the policy.
Who helps in case of an insured event: the broker or the insurance company?
The compensation is paid by the insurance company according to the contract terms. The broker helps the client understand the required steps, prepare documents and communicate with the insurer.
Choose an insurance company and policy through Superpolis.md
It is important to understand what conditions you receive, which risks are covered, what exclusions are included in the contract and who will help you in case of an insured event.
Superpolis.md helps compare offers from leading insurers in Moldova and choose a policy for your situation: car, trip abroad, property, health, accident or comprehensive protection.
→ View all Superpolis insurance services
→ Buy RCA online
→ Submit a request for CASCO
→ Choose property insurance
Contact Superpolis.md to compare offers from insurance companies and choose a policy that suits you not only by price, but also by the terms of protection.