Motor or Car, Travel, Home and Life Insurance – Are you getting the best deals?

It never ceases to shock our financial advisors how many people actually are not aware that they may be able to get a better deal on their existing

  • car insurance
  • home insurance
  • life insurance

or for any insurances they may be paying premiums.

  • Insurance can be costly, but even more expensive if you choose the wrong product or type of cover.

For years, insurances of all types were mis-sold and nowadays it is correct to say that the insurance industry within the UK has been regulated and is monitored carefully by the respective authorities.

When you choose an insurance policy, it is not always clear which is your best option, therefore, the advice you get regarding the policies available is of paramount importance.  A broker with access to all different policies made available through many different insurers can be one option for you to buy your insurance, another could be to go direct to one insurer and this way you would cut out any middle man fees, the problem being you will only be advised on the policies that company can offer, there may be a better policy with another direct insurance supplier.

  • So what do you do?
  • Do you call all of them or use comparison sites such as moneysupermaket or gocompare or even comparethemarket?

We would recommend using what we call a comparison broker, this way you feel it is fair to pay a broker fee if the broker explains the different policies available and in turn helps you to come to a sound decision.

When in personaldebt, it can be most important to consider every option available within your means to reduce your outgoings; this includes things such as motor or car insurance, home insurance and life insurance etc. Sometimes you can be pleasantly surprised at the savings you can make just by changing insurance company.

The average domestic car or home insurance policy will usually run for about 1 year, and then it will be ready for renewal. The industry and insurance companies change their policies so frequently that when it comes around again for you to renew, the products available could be very different and far more attractive than your last policy, 12 months is a long time in the insurance industry.

Please remember to shop about for the best deal, it is not always the one that is easily found, these companies use clever and expensive marketing tactics and campaigns to generate an enquiry from you, make sure you know exactly who you are dealing with and who will be supplying the insurance.  For most people this information may sound basic but for many of us insurance is still an unknown but necessary evil!

For help and advice regarding any personal debt problems please contact our personal debt helpline in confidence using 0800 018 6868, our lines are open 24 hours a day and your call is free.

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Payment Protection Insurance Claims or PPI Claim

On May 15, 2010, in News, by Lewis Alexander
  • Are you a victim of miss-sold PPI?
  • Could you be entitled to reclaim Payment Protection Insurance on your credit cards & loans?
  • If you have or have had a credit card or loan or other type of personal credit agreement with payment protection insurance in the last 6 years, you could make a claim!

These adverts and catch lines are all very familiar when searching the internet for information regarding a Payment Protection Insurance Claim or PPI claims as they are known in short.

Companies will offer you the possibility of being able to make a claim for PPI miss-selling, this is when you have paid for payment protection insurance on a loan or credit card and did not ask for it etc.  There are a number of legal reasons why people are able to reclaim the fees they have paid out on Payment Protection Insurance and claims companies will do this work for you for a fee.

The fees that PPI Claim companies charge can vary and some are very high and some are reasonable, it is hard to find reputable companies that specialise in this sector as a great number are just enquiry generators who do not actually do the work for you.

  • There should be no upfront fees charged by a company to review a PPI Claim!

Certain well known high street lenders have suffered massive fines from the authorities for misselling Payment Protection Insurance and the amount of money being claimed back by individuals is also very high.

  • Payment Protection Insurance in itself is not something that does not work, It does!

PPI will cover you for repayments of personal credit agreements should you fall sick, become unemployed or simply have an accident.  These payments are usually met by the insurance company for up to one year.

From the FSA Financial Services Authority to the FOS Financial Ombudsman Service, these PPI companies have been fined, warned and reprimanded.

The finance companies make a lot of money from the add-on products such as PPI; this is where they make most of the profit from in the sale to you.

If you think you have a genuine claim for being miss-sold Payment Protection Insurance contact one of our advisors today in absolute confidence and we will help you to understand the process involved in making a PPI Claim.

Call Free today using 0800 018 6868

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