Insurance – Know what You’re Getting Into!

For the majority of people who live in the UK, counting the pennies is top of the list. However, there are times when you simply can’t cut corners. For example motor insurance is a big no-no when it comes to seeking out those so called “super deals”. I’m not saying you shouldn’t shop around when looking for any type of policy because there are plenty of companies out there who have reputations second to none.

But! There are also plenty of shady dealers out there who are willing to sell you something that, quite frankly, isn’t worth the paper it’s written on. Some of you reading this may think “surely not” but I assure you they are out there and they’re costing both customer and company millions upon millions every day!

So, what is it you should look out for? Let’s start with the obvious Do’s and Don’ts…..

DO

Make sure the company you decide to go with is a registered member of any governing bodies required. In respect of motor insurance for instance, they should be a member of the Motor Insurers Bureau or the MIB.

If you intend to use a broker, they should be on the Financial Services Register.

It may seem like a more expensive option but stick to companies you’ve heard of and do your research before passing over any of your hard earned cash. Oh, and by the way (BTW for all you text speak people out there) make sure any website you’re looking at is genuine. One way to tell this is by checking they’re regulated by the Financial Conduct Authority. If you have any doubts, and I mean ANY there are numbers you can call.

DON’T

OK, this might sound silly but if you’re contacted about insurance by someone through any type of social media site, the chances are they’re not the real deal.

It also goes without saying that if you come across someone in your local pub with what looks like a bunch of official insurance documents in their inside pocket, you’re not dealing with a person who has legitimacy on their mind!

You Shouldn’t Cut Corners Because…..

Imagine this? You think your car is properly insured and you have a prang (nothing serious) but the police attend the accident. If you’re found to be carrying fake documents the chances are the long arm of the law isn’t going to be too pleased!

You might even find yourself being questioned over your own attitude to being a law abiding citizen. All sorts of things can go wrong and you might even end up with your precious Vinnie the Vauxhall being imprisoned or worse still….squashed!!

Overall

We hear plenty in the media about how certain “undesirables” are pushing up the cost of insurance by making false claims, but the problem is just has huge on the other side of the fence. Remember that just because there is a friendly looking dog or some other legitimate looking logo on the paperwork you’ve been sent, it doesn’t necessarily mean you’ve got real documents.

Oh, and if you hear the words “ghost broking”…head for the hills!

 

 

 

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