What does ONE do better than its competitors?
Insurance has been around for hundreds of years. And sometimes, this shows: Customer expectations have changed dramatically because of the internet and better service being offered in other industries. Large, traditional insurance companies still labour under slow processes, outdated IT infrastructure and customer service in need of improvement. ONE uses state of the art technology from start to finish and aims to provide the best customer service on the market. What does this mean in practice? If you file a damage claim with us, we will generally arrange to have the claim paid out within a few minutes. Insurance policies can be concluded in no time, without unnecessary paperwork. You can get in touch with us anytime, anywhere via the app. Apart from this, we give back what we don’t need by rewarding you for damage-free months. Finally, you save money because - thanks to our modern technology - we at ONE work in a highly cost-efficient manner. As a customer, you profit directly from this.
Who is behind ONE?
Currently, our team is a good mix of experienced insurance managers and young, agile expert teams. We have a common vision: We want to combine the best of the established world of insurance with the best of the young and dynamic start-up scene. That is our mission, and this is the benchmark against which we judge ourselves - that’s a promise! München Rück acts as our partner: not only as a reinsurer, but also as part of product development and data analytics. ONE enjoys the support of highly engaged and robust financial investors. Our managing director has many years’ experience as a CEO in various insurance companies; in this time, he was able to make several changes and thus improve insurance for his customers. Established structures at large insurers are not easy to change; therefore, with ONE, we decided to create a new, customer-oriented insurance product.
Is the insurance ONE offers secure?
We comply with the strict requirements imposed by the European Solvency II Directive and the Liechtenstein Insurance Supervision Act. Before our market launch, we accumulated substantial capital reserves to obtain the permission of the Liechtenstein Financial Market Authority to take up insurance activities. We are therefore able to offer our services for many years to come. We also have the support of Münchener Rück, the biggest reinsurer in the world. We can be sure of their protection - even if large sums have to be paid out. We are always at your side!
How does payment of the insurance premium to ONE work?
You can either pay by credit card or direct debit. We will debit the relevant amount each month.
Is it possible to change my preferred payment method at a later point?
You can change your preferred method of payment at any time using the app.
What types of insurance cover can I get from ONE?
We offer all types of insurance cover which a prudent person should have in the interests of their own protection: third party liability insurance and household insurance. Third party liability insurance ensures that - even in the event of misfortune - you do not suffer any serious financial damage. Household insurance protects items in your home.
What does insurance cost?
In most cases, insurance only costs a few euros a month. The amount depends on the scope of insurance and your risk rating. For example, household insurance is generally more expensive in big cities than it is in rural areas, because the crime rate is higher in cities. The size of your flat also influences insurance cover and price. With third party liability insurance, whether your children will be co-insured or not plays a role. As a rule, we only offer products which we would buy ourselves. Therefore, it is important to us to offer good value for money in the best sense. That means: the best service for the best price.
What is household insurance?
Imagine, a fire breaks out in your home and you are suddenly faced with having to buy replacements for all your household items. That can become very expensive. ONE household insurance protects you from having to bear these costs. ONE household insurance doesn’t just cover you in the event of fire, but also (for example) in the event of a break-in, water damage or surge damage caused by lightning strikes. Your possessions are also covered while you are on holiday.
What is covered by the household insurance? What is excluded?
We cover the insured household items in your apartment against numerous risks. In particular, it covers damage due to fire, burglary, robbery, vandalism, mains water leaks, high winds and hail. In many cases, insurance cover also extends to items outside of your insured apartment. However, certain types of liability are excluded in all tariffs - otherwise the cost of the insurance would be much higher. For example, intentionally caused damage is generally excluded, i.e. if you destroy your television on purpose.
What is third party liability insurance?
Private third-party liability insurance should protect you from damage which you accidentally inflict on others. Even a small lack of concentration can cause extensive damage: For example, if you run over the road without looking and a cyclist swerves to avoid you, injuring himself in the process. Or if you help your friend to move house and accidentally drop his expensive television. In these cases, you are protected by your ONE third party liability insurance.
What does third party liability insurance cover?
The ONE private third-party liability insurance protects you against all risks arising from statutory liability and your private environment. If a damage event occurs, personal injury, property and financial damage are insured up to an amount of 10, 25, or 50 million euros - depending on the tariff. Neither your occupational activities nor damage caused by motor vehicles, e.g. your car, are covered; you must conclude separate insurance policies for these. Damage which you cause as the owner of a dog or horse are also excluded from insurance cover; these also require separate insurance.
Who is co-insured?
You can choose which people are co-insured with you when you conclude the insurance policy using the ONE app. Insurance always covers you, as well as any au-pairs and exchange students living in your home (for up to one year), any people employed in your household and any single parents or grandparents. If you like, you can also include your children and your partner in the insurance as co-insureds.
Where can you find your insurance documents?
We cut down on needless paperwork wherever we can. You can obtain insurance cover from ONE 100% digitally in just a few minutes. You can find all the documents quickly and easily in your personal document centre in the ONE app. This means you don’t have to search through any files - and the environment benefits too.
How and when can ONE insurance policies be terminated?
We want to impress you each and every day with the best service - not tie you up with long contract terms. Therefore, you can terminate your policy each month. Insurance cover will expire at the end of the current month at that time.
You have suffered damage. What do you do now?
If a damage event has occurred, please use the damage function on the ONE app. We will try and process the damage claim quickly and assist you in taking the next necessary steps (i.e. looking for workmen or a hotel, if your apartment should be temporarily uninhabitable).
Is the damage you have incurred insured?
You can find out whether the damage you have suffered is covered in a matter of minutes using the ONE app. If the damage is simple and uncomplicated, we aim to pay out immediately.
How quickly will you get your money in the event of damage occurring?
We can process many damage claims completely automatically using our modern technology. It is our objective to settle 60 percent of all damage claims in this way. In any case, you can check the status of your damage claim at any time and when you can expect a result. Our damage experts frequently make on-site visits to provide you with professional assistance in remedying the damage.
How high is the excess in the event of damage?
The excess is the cost which you have to bear yourself in the event of damage. You can choose your own excess when you conclude the insurance policy. You can choose an excess amount of 0, 150, 300, and 500 euros. By choosing a high excess, you save money each month because the premium is up to 50% lower than with a lower excess. The excess goes back to the original rationale for insurance: You pay for damage which you are able to pay for. The community will help you in the event of more expensive damage in the form of insurance.
How does the bonus system work?
With the bonus system, we return to the original principle of solidarity in insurance: A group puts by money for the event that one of its members falls on bad times. Whoever has not caused any damage and thus relieved the community of a burden gets bonus points. Whoever extends the community as a result of making a recommendation also gets points, as does the person who joined after receiving the recommendation.
What can you use bonus points for?
Your points are converted each year on the 30th November. You can choose whether to convert the points you have collected into a donation to a charitable cause or into a reduction on your premium. If you have persuaded several friends to take out insurance at ONE, you also have the option of having an amount equal to the value of your bonus points transferred to your bank account.
What happens to bonus points if a damage event occurs?
If a damage event occurs, we will check this and pay out the appropriate amount pursuant to the provisions of the relevant policy. You keep all the bonus points you have collected until then and can convert them into either a premium reduction or donation as normal. Once the damage claim is settled, you will not receive any bonus points for any damage-free months in the next 12 months. After these 12 months have passed, you will again get points for months which are free of damage. You will always get points for friends who join at your recommendation.