Insurance
Insurers, brokers and comparison services. The cheapest policy is often the one that excludes the claim you are most likely to make.
Insurers and brokers
Insurers and brokers are licensed by a financial regulator in most countries. In the UK, check the Financial Conduct Authority's register. A broker can compare several insurers, but ask how they are paid and which insurers they work with.
Read the policy wording
The summary on a website is not the contract. Ask for the full policy wording and check:
- What is covered, and the limits for each type of claim.
- Exclusions, including activities, countries and pre-existing conditions.
- The excess or deductible you pay on each claim.
- Waiting periods before cover starts for some conditions.
- How to claim, and what evidence you will need.
Tell the truth on the form
Insurers can refuse claims if you left something out when you applied. Answer every question fully, and keep a copy of what you submitted.
Renewals
Premiums often rise at renewal. Check whether the insurer can change terms or decline to renew after you make a claim, and compare the market each year.
Types of cover
Travel insurance usually covers short trips and may not cover living abroad. People moving abroad often need international health insurance, and some visas require proof of it. Home insurance usually splits into buildings and contents cover. Life insurance can be for a fixed term or for your whole life.