Consumers urged to check the insurance small print

22 May 2006
Consumers looking for a new insurance policy are well advised to read the small print in detail rather than simply plumping for the cheapest, says a leading consumer group.

Defaqto associate director Brian Brown says insurance policies can have a complex claims process which might put some people off.

With some packages having stringent rules over how to make a claim, Mr Brown says it is essential consumers read the small print and make this process one of the criteria they address when selecting a policy.

"How tight the claims management is will be a consideration," he explained.

"With some you have to report all claims within 24 hours and some companies stick to this to the second.

"Others may ask for a copy of the exact receipt," he added.

The UK insurance industry pays out £54 million per day in general insurance claims, on average.

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