Why use a broker? Well the latest figures provided by 'Which?' add weight to the reasons why you should avoid the comparison sites and get professional advice. It seems that insurers are using “spurious” reasons buried deep in the small print on insurance policies to wriggle out of paying people's claims. An investigation by 'Which?' surveyed 4,800 members with car or home insurance and looked at policies from insurers which were commonly used.
More than one in ten (12%) consumers who made a home insurance claim and one in twenty (5%) who made a car insurance claim, had it fully or partly rejected. 'Which?' found that some insurers were taking the rules to the “extreme”. For example, members told the consumer group that their insurer would not pay out for the contents of their freezer without a receipt. Home insurance policies looked at by the consumer group included a requirement for the property to be kept in good condition, but there was no explanation as to what, in their opinion, constituted “good condition”. In one case a consumer told the study that their insurer refused a claim because they had not re-grouted their bathroom tiles every year!
'Which?' said it saw “many cases” where car insurers settled claims 50/50 even when the driver believed they had strong evidence the accident was not their fault, meaning they faced paying large bills and the loss of their no-claims bonus.
The new regulator the Financial Conduct Authority announced a review into the insurance market earlier this year and has announced plans to probe insurance “add-ons” which are sold alongside major purchases such as cars and holidays, in an endeavour to see if people really are getting value for money.
A spokesman for the ABI (Association of British Insurers) said “Insurers continually review their policy wording and claims procedures so that the expectations of customers are met. Motor insurers pay out the equivalent of £19 million every day to policyholders, with £9 million a day paid to homeowners under buildings and contents insurances. The industry is also stepping up its fight to tackle fraudulent claims to protect honest customers.”
All of this indicates that using the services of a broker is vital. At Westhill Insurance Services we will shop around to find not only the best possible deal financially, but we also make sure we offer policies which are best suited to our customers: our customer service is second to none and we always put our customers first. Our reputation speaks for itself, so if you want to make sure you have the insurance cover you require and which will work for you should the worst happen, then make one quick call to our friendly team. At Westhill Insurance Services, we're working with the insurance industry to serve our customers.
Contact Westhill Insurance Services, today.