Key Facts to Know Before Buying

Before you buy any policy, there are a number of things you should be aware of:

1. Know your Rights

The Financial Services Authority (FSA) regulates the sale of insurance. They should be your first point of contact if you have any concerns about an insurance product.

2. Read the Policy

Make sure that you read your policy in detail to check that it provides the cover you need. Take a look at any exclusions, and consider whether the policy will meet your needs. Compare it with policies from different insurance companies. The agent or company should explain any terms that are not clear.

3. Cooling Off Periods

Before you buy, check to see if there is a cooling off or right of withdrawal period applying to your policy. If so, you have time after you've made the purchase to consider the policy in more detail. If not; make sure you are completely satisfied with the cover the policy offers BEFORE you buy.

4. Declare Information

Make sure that you tell the insurance company about any personal circumstances that might make a difference when you come to claim, such as medical issues. Failure to do so may mean that any claim you make in the future may be rejected.