When insurance is a dud
5th June 2013
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If there’s one typical comment made about buying insurance, it’s “I don’t know why I have to insure, insurance companies never pay up.”

Of course this isn’t always true. But, sometimes it is. Insurance policies can be mis-sold. Or, intricacies of policy wording may not be obvious.

Phil Alexander of Shene Insurance in East Sheen gives his opinion about when insurance is a waste of money.

“Let me give you a recent example. This person’s son had travelled toAmericaon holiday. Once he’d arrived he wanted to go jet skiing. The father realised the son would not be covered under his insurance for jet skiing so he took out a policy for high risk activities. Unfortunately the son had an accident on a jet ski and landed up in hospital. The insurance company refused to pay the medical bill – despite the insurance being taken out BEFORE the accident! 

“Why? Tucked away in the policy wording a ‘Trip’ is stated as ‘when you leave theUKuntil you return to theUKinclusive’.  This policy was taken out through the internet after the son had already arrived inAmerica. No independent advice was given.”

The moral of the story is insurance can be a waste of money if you are not being asked the right questions to get the right policy. The internet may be convenient, but if anything is worth insuring - surely it is worth seeking the best advice too?

Shene Insurance is open Monday to Saturday. Call or pop into their office.

Shene Insurance - Insurance Brokers - Richmond upon Thames

About the Author

Nick T

Member since: 10th July 2012

I launched The Best of Richmond in 2005 and am passionate about supporting all things local. In particular, we work hard to showcase the best local businesses who give the borough its character and make...

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