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An Insurance Contract is a binding agreement between you and an insurance company, where they promise to compensate you for specific losses in exchange for regular premium payments. In Belgium, these contracts are governed by the Insurance Act of 2014, which sets strict rules about what must be included and how they work.

Every Belgian insurance contract must clearly spell out the risks covered, payment terms, and claim procedures. It creates important rights for both parties - you get financial protection against unexpected events, while the insurer can set conditions for coverage. The contract becomes active once both parties sign it and you make your first premium payment, though Belgian law gives you a cooling-off period to cancel most types of insurance.

Insurance Contracts become essential when you need to protect yourself, your family, or your business against specific risks. Common situations include buying a home (requiring fire and property insurance), starting a business (needing liability coverage), or purchasing a car (mandatory auto insurance in Belgium). Belgian law requires certain types of insurance, like workplace accident coverage for employees.

The right time to set up an Insurance Contract is before you need it - ideally when acquiring assets, starting new activities, or taking on responsibilities that could create financial risks. Belgian insurers offer standardized contracts for common needs, but you can also negotiate custom coverage for unique situations, especially in business contexts.

• Insurance Long Term Agreement: A specialized Insurance Contract that locks in coverage terms and premiums for multiple years, offering stability and potentially better rates. These are common for complex business risks, large property portfolios, or industrial coverage where long-term price certainty is valuable.
• Personal Insurance Contracts: Cover individual risks like home, life, or health insurance, with standardized terms following Belgian consumer protection laws.
• Commercial Insurance Contracts: Tailored for business needs, covering professional liability, property, or specialized industry risks with customizable terms.
• Mandatory Insurance Contracts: Required by Belgian law for specific situations like auto insurance, workplace accidents, or professional liability in regulated industries.

• Insurance Companies: Licensed Belgian insurers who draft and issue the contracts, assess risks, set premiums, and handle claims according to FSMA regulations.
• Policyholders: Individuals or businesses who pay premiums and receive coverage protection, ranging from homeowners to large corporations.
• Insurance Brokers: Licensed intermediaries who help clients find appropriate coverage, negotiate terms, and assist with claims processes.
• Legal Advisors: Help review and negotiate complex Insurance Contracts, especially for commercial or specialized coverage.
• Beneficiaries: Third parties named in the contract who can receive payments or benefits, common in life insurance or liability coverage.

• Risk Assessment: Identify and document all assets, activities, or responsibilities needing coverage under Belgian insurance law.
• Party Details: Gather complete information about the policyholder, including business registration or personal identification details.
• Coverage Scope: Define exact risks to be covered, exclusions, and any special conditions required for your situation.
• Premium Calculation: Compile relevant risk factors, claim history, and value of insured items to determine appropriate premium levels.
• Document Generation: Use our platform to create a legally compliant Insurance Contract that includes all mandatory Belgian requirements.
• Final Review: Check all terms, conditions, and payment schedules before signing to ensure everything matches your needs.

• Identification Details: Full names, addresses, and contact information of both insurer and policyholder.
• Risk Description: Clear definition of covered risks and exclusions as required by Belgian Insurance Act.
• Premium Structure: Payment amounts, frequency, and consequences of non-payment.
• Coverage Period: Start and end dates, renewal terms, and notice periods for cancellation.
• Claims Procedure: Step-by-step process for filing claims and required documentation.
• Legal Compliance: References to relevant Belgian insurance regulations and FSMA requirements.
• Dispute Resolution: Procedures for handling disagreements under Belgian law.

Insurance Contracts are often confused with an Insurance Policy, but they serve distinct purposes in Belgian law. While both documents relate to insurance coverage, their scope and application differ significantly.

• Legal Nature: An Insurance Contract is the binding agreement that establishes the relationship between insurer and insured, while an Insurance Policy is the operational document detailing specific coverage terms.
• Timing and Duration: The Contract sets up the initial legal framework and remains relatively stable, while the Policy can be updated annually with changing terms or premiums.
• Content Focus: Insurance Contracts contain fundamental legal obligations and rights, while Policies focus on practical details like coverage limits and claim procedures.
• Modification Process: Changing an Insurance Contract requires mutual agreement and formal procedures, but Policy terms can often be adjusted at renewal with proper notice.