Friendsurance: crowd insurance coverage - how it works

In this practical tip, we explain how the so-called crowd insurance coverage at Friendsurance actually works.

Crowd funding insurance coverage at Friendsurance

• You can take out your insurance online at the provider as required, for example liability, household contents, legal protection or mobile phone and device insurance.
• After successfully taking out the insurance, you can connect to other insured people online to form a network (similar to the social networks).
• If every insured person in this network remains free of damage, you and your network will receive around 50% of the contributions back each year. However, should a damage occur, the repayment is reduced. However, you never pay more than the original contribution.
• Among other things, this model works because you do not want to harm yourself and your friends or family members. You also benefit from it yourself if the group remains free of damage.
• The provider is aimed at everyone who is looking for cheap insurance. According to Friendsurance, "you can only win".

In another article we explain the difference between guarantee and warranty.