50 tips for better and more affordable insurance.

The consumer advice is Andreia Dias, Carlos Silva, Tiago Correia, Jose Antonio Souza, Mariu Ramos and Nelson Machado on top. Rute Santos, Gonçalo Baptista, Sandra Moas and Nuno Aruda from below.

If you're looking for tips on saving money on insurance, improving your financial protection against risks and avoiding conflicts with insurance companies - because, in fact, what you thought was insured actually wasn't - then this article is for you. For ECOseguros, 10 experts shared tips on saving money and warned of mistakes that create big costs for Portuguese families and problems with insurance claims.

Save for retirement

Brussels suggests a disappointing outlook for the future'Portugal's 'pensioners. By 2040, the monthly pension is projected to be 54.5% of the last salary, and by 2070 this figure will be 41.4% of the last salary, according to the European Commission's 2021 report on population ageing. Nelson Machado, Ageas Portugal's group executive director of life and pensions, advises to start "saving and forget that this money is available and significantly increase the likelihood of achieving financial independence by the time you retire." To do this, he advises:

• Avoid duplicate cover;
• Make sure what is insured really meets your needs (don't insure too much, but also don't leave risks uncovered or under-covered''coverage);
• Review your entire insurance portfolio periodically, e.g. every 5 years.
• Balance immediate and long-term savings when taking out an insurance policy.

The various deductibles, i.e.

• Seek specialized support from a broker or intermediary;
• Consider whether short-term savings could jeopardize financial sustainability''families.

How to avoid disappointment

As Rute Santos, CEO of the Center for Insurance Information, Mediation, Ombudsman and Arbitration (CIMPAS), herself points out, she gives more legal or technical advice on avoiding trouble, which is as follows:

• Clearly define what you want to cover with insurance;
• Read the contractual terms and conditions carefully and be especially careful to examine the exclusions provided, including the "small letters";
• Inform yourself about the measures to be taken in the event of an insured event;
• Know the law, including the deadlines that insurance companies must follow in order to properly settle an insurance claim;
'case;
• Learn whether the insurer favors an alternative means of dispute resolution (e.g., arbitration) as a distinguishing feature when choosing an insurance contract;
• Learn about the procedures and available remedies if you wish to file a complaint against an insurer;

Better to prevent than to cure.

The CEO of Innovarisk, Gonçalo Baptista, states that "property protection is one of the keys to a serene life," and insurance "plays a central role in this preservation." Based on this principle, the CEO advises:

• Take the time to think about protecting your finances over the long term. If you think of insurance as just an expense, chances are you''miss out on needed protection;
• If you need to forgo protection for financial reasons, be prepared to accept deductibles that you can afford. Although they are more frequent, small insurance claims don't have to ruin your finances, unlike larger ones. Therefore, you should maximize protection against the most serious, albeit unlikely events, at the expense of smaller ones;
• If you are not satisfied with the explanation you have been given, seek a second opinion and file a complaint if you feel you have been treated unfairly in the insurance claim settlement. There are now many consumer protection mechanisms;

Savings on premiums

Andrea Dias, chief risk officer at MDS, a leading brokerage''group in Portugal, gives tips on being careful with multi-risk policies and exploring deductibles to reduce the cost of insurance.