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We are often asked similar questions with regards to certain policies and procedures so we thought we’d pull them all together in the hope that we can answer some of those questions for you.


Here are some top insurance myths to help you make a better choice when buying insurance;-


  1. If a property has subsidence is it insurable? Subsidence is normally covered by buildings insurance. There are specialist providers who deal specifically with this insurance need.


  1. Is the EHIC (European Health Insurance Card) sufficient insurance when travelling abroad?


The card is not a substitute for travel insurance. It will entitle you to basic medical treatment and therefore it does not provide full NHS cover and will certainly not cover additional expenses like repatriation back to the UK.


  1. If your insurance claim is accepted, will your insurer pay everything?


Most insurance products will have an excess to pay which means that in the event of a claim, you will be required to pay this set amount yourself before your insurer will pay-out. Always check this amount when obtaining a quote as some insurers have compulsory and voluntary accesses and these can amount to quite a lot should you make a claim.


  1. Will searching online always give you the best insurance option?


Online comparison sites are certainly a quick and easy way to search a wide variety of policy options. However, there are plenty of online sites providing insurance cover who aren’t on a comparison site and therefore will not incur an expense to be on a comparison website so the overall price for your insurance could be cheaper.  Also, it’s important to compare insurance policies by the level of cover they provide as well as by their price.


  1. Will your valuable items automatically be covered under your home contents insurance?


Most home contents insurance will specify a maximum level of cover for any single item covered by the policy. If you have a specific valuable item that’s worth more and you want this covered it is important to mention it to your insurance company when you take out your policy.  If you don’t specify this item or items when quoting don’t be surprised if your insurance company will not pay out for it.  Remember the option is there for you to discuss with your insurance company when you take out the policy but there is also an option to obtain specialist cover to protect it.


  1. Does comprehensive cover mean I can drive any other vehicle?


This is not the case – it’s not as simple as that. You should always check the terms of your own cover. If you’re not covered, you’ll need to arrange temporary car insurance if you’re planning to drive a vehicle that either isn’t yours, or one that doesn’t have you as a named driver.


  1. Does having a black box policy automatically mean I get cheaper car insurance?


It tends to be! However, the discount could improve at renewal once the Telematics monitor device builds a picture of your driving style (by monitoring things such as acceleration, braking and speed). It’s not guaranteed, and the flip side of the coin is that a poor score might even see an increase.


  1. Is car insurance cheaper if I pay by monthly direct debit?


Paying for your car insurance every month is certainly a more affordable way of funding the cost of your policy, instead of shelling out for the full price in one go – which may not be easy to do for some people. However, don’t be fooled into thinking that paying in monthly instalments is a cheaper as insurance providers add a small amount of credit charge to the total cost you’ll pay when you choose a monthly direct debit option. The best approach is to look at the price of both payment options to be sure, but if you can afford to pay for your annual policy in one lump sum, you may be better off doing that.


  1. If I’m involved in an accident, will I definitely lose my no claims discount?


This doesn’t always happen. Some insurers may still allow you to keep your NCD if the accident wasn’t your fault, and some also offer protection for your NCD – allowing you to make a certain number of claims before losing it.


  1. Is third party only cover always the cheapest type?


No, not always. It might provide the least comprehensive type of cover and it’s legally the minimum kind required by law, but it’s not definitely the cheapest. Some providers might charge a higher fee because drivers who opt for third party may be seen as a higher risk. Remember, third party means that if you’re involved in an accident with another car and both vehicles are damaged, you’ll only be able to claim costs for the damage to the other car – not your own. You’ll have to fund those costs yourself, which could make third party insurance quite an expensive option if you have an accident.


  1. Why do people opt for Private health insurance in the UK when they have access to the NHS?


The simple answer to this is that private health insurance customers can avoid queues.  It is important to say here that private health insurance is not meant to replace The NHS but to compliment the services that are on offer.  Undeniably The NHS is a most prized asset and has become the backbone of a nation who’s people rely on the services on offer.  The NHS, as one of the biggest employers of the UK is, as quoted from The Royal College of Physicians “underfunded, underdoctored and overstretched”.


It has been widely said that the people of the UK take the NHS somewhat for granted and overuse the services.  Therefore waiting times are long and conditions are strained.  Enter private health insurance which will offer you alternative routes to consultants and other services which are not on offer with the NHS.


These ‘need to know’ facts could help you make the right decision!


Remember, the best source of information about your personal insurance cover is your insurance provider.


At Best Price FS we are committed to answering all of your insurance queries and endlessly try and provide the most comprehensive cover with a really competitive rate.  We cover a vast range of insurance options. Here are a few links to get you where you want to go faster:


Visit us at www.bestpricefs.co.uk


Or Home insurance: https://www.bestpricefs.co.uk/home-insurance/


Car insurance: http://bestpricefs.co.uk/app/car-insurance/


Life insurance: https://www.bestpricefs.co.uk/life-insurance/


All insurance: https://www.bestpricefs.co.uk/insurance/