kostenverzekering

Kostenverzekering, often translated as cost insurance or expense insurance, refers to a type of insurance policy designed to cover specific costs incurred by an insured individual or entity. Unlike traditional indemnity insurance that aims to restore the insured to their financial position before a loss, kostenverzekering focuses on reimbursing pre-defined expenses. This can encompass a variety of situations, such as the costs associated with travel cancellations, legal proceedings, or even certain medical treatments that might not be fully covered by standard health insurance.

The core principle of kostenverzekering is the direct reimbursement of documented expenses. For example, a travel cancellation insurance policy would reimburse non-refundable costs of flights and accommodation if a trip must be canceled due to a covered reason. Similarly, legal expenses insurance covers the fees and disbursements associated with legal disputes. The specific benefits and conditions are always detailed within the policy document, outlining what expenses are covered, the limits of coverage, and any applicable deductibles or waiting periods. It is crucial for policyholders to understand these terms to ensure they have adequate protection for their specific needs and potential risks.