insurance sales tips
What? has warned consumers that they could lose thousands of pounds of your hard earned cash on unnecessary insurance. The agency said consumers that the life insurance, cars, buildings and contents insurance is vital, however, argued that other policies such as extended warranties, identity theft insurance and protection Payment can be a waste of cash.
The company recommends that people review their existing insurance policies to ensure adequate coverage. Many people are paying for new insurance for things that are already covered by existing policies, and some are having coverage that is very unlikely to pay.
An example of this is identity theft insurance buyers, who are already covered by your bank or building society under the code banking, which specifies that the victim must be repaid.
What? came to say that the life insurance policies often include accidental death and injury cover, and mobile phones are covered by contents insurance. It's worth being insured in case something happens, but paying twice for the same is a waste of money.
Payment protection insurance (PPI) has been subject to scrutiny by Which? for a long time, the company said higher high prices and the obstacles that often mean high insurance policies will not pay. PPI is supposed to cover repayments on loans, mortgages and credit cards if the borrower is in a situation where they can meet the payments themselves, has been widely criticized for being too prices and provide only limited benefits for customers.
The author of the Handbook of the economy than money, Tony Levene said: "The favorite of the insurance industry, phrase "peace of mind", but uses this to justify policies that cost much and is almost impossible to claim against, "Instead of blindly what the vendor says, people should carry out a risk assessment of their own, and make an informed decision about whether you really need insurance, and if it is worth the premium. "
PPI has faced much criticism in recent years, earlier this month, HFC fined £ 1m by the Financial Services Authority, 163,000 for not ensuring its customers were properly informed when they bought the company PPI.
This was a fine session of this kind, the financial regulator is mandatory for insurance companies for failing in this area. Service Financial Ombudsman (FOS) has also reported a significant increase in consumer complaints about PPI policies.
The past year 2,000 complaints about PPI recorded by the company, the first nine months of the new year saw 5,000 complaints made. Next to this figure an increase of 30% of complaints about car insurance was also recorded.
In a response to What? survey research, the Association of British Insurers (ABI), said consumers should research your options carefully before making any cover to ensure that it is an obligation to buy. What like? commented that there are some types of insurance you need, and the number of life insurance policies cheap Available means that it is impossible to be covered for the right things while avoiding evil.
ABI director Nick Starling said: "It important that people seek in their particular circumstances, to ensure they have adequate insurance for their needs, particularly life-changing events such as unemployment is right for them, "he continued.
Starling said that the FSA has said that if insurance is selling well and PPI can provide valuable protection for any customer you need to claim.
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Article Source: ArticlesBase.com – Choosing Essential Insurance Over The Unnecessary
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