Insurance

Why bother with Insurance?

Insurance can be used to protect almost anything, for example:

• Income
• Borrowings
• Health
• Possessions

Types of Insurance

Certain types of insurance are known as Pure Protection Insurance.  These include:

• Life Assurance
• Critical Illness Insurance
• Income Protection Insurance
• Payment Protection Insurance

Other types of insurance are known as General Insurance policies, and these include:

• Motor Insurance
• Household Insurance
• Travel Insurance
• Health cover
• Pet Insurance

Regulation

The selling of insurance products is regulated by the FSA.  Learn more at www.moneymadeclear.fsa.gov.uk

What is or is not covered by insurance will depend on the terms and conditions of the policy.  The FSA recommend that you read the key policy information that the insurance company will give you to find out exactly what you're getting and use it to shop around and compare other policies.

Whatever type of insurance you decide to take out, always:

• ensure the firm is authorised by the FSA to sell insurance
• disclose the full facts when applying for insurance – if you don't, you could invalidate your policy and the insurance company will not pay out in the event of a claim
• read the key policy information for exclusions – to ensure that you choose the right policy for you
• check for excess charges – some policies make you pay a certain ‘excess’ amount before they pay out on claims, and some policies charge an excess per clause rather than one overall
• shop around using these documents to ensure you get the best deal for you – some policies might be cheaper than others, but they may not offer the same level of protection.

Note that we do not sell insurance policies.  However, if you would like to express an interest in taking out an insurance policy, please visit our Insurance Providers page.