Insurance
When something goes wrong, you want to be paid quickly and without a fight. This is the moment that shows what a provider is really like to deal with.
Insurance companies
92 companies
About Insurance
Insurance covers the financial cost of unexpected events, from accidents on the road and medical treatment to damage at home and lost belongings abroad. Each policy sets out what is protected, what is excluded and the limits that apply, and the wording of those terms decides what a customer can actually claim.
The market is made up of insurers that underwrite the risk themselves, alongside brokers, comparison sites and direct sellers who arrange cover on their behalf. Many policies are sold online or over the phone, while others come through banks, motor dealers, employers and travel agents, so the same product can reach a customer through several routes.
The sector is regulated by the Financial Conduct Authority, which oversees how firms treat customers and how products are sold, and the Prudential Regulation Authority, which supervises the financial strength of insurers. The Financial Ombudsman Service handles unresolved complaints, and trade bodies such as the Association of British Insurers represent the industry's shared interests.
Questions about Insurance
How do I choose the right insurance company?
Start by confirming the insurer is authorised by the Financial Conduct Authority, which you can check on the FCA Register. Then compare the policy wording, excesses, exclusions and the claims process rather than the headline premium alone.
What should I compare before buying a policy?
Compare what the policy covers, what it excludes, the amount of any excess, the level of cover for the things that matter to you, and whether the insurer requires you to use approved repairers or suppliers. Read the Insurance Product Information Document, which the Financial Conduct Authority requires insurers to provide in a standard format.
Do I have to read the full policy before I buy?
Yes, you should read the full policy wording before you buy, because the terms of the contract are set out there and not in the summary. Under the Insurance Act 2015, you must make a fair presentation of the risk when you take out cover, so check that every question you are asked about your circumstances is answered accurately.
Can I cancel my insurance policy after I buy it?
Yes, most personal policies sold in the United Kingdom carry a 14-day cooling-off period under the Financial Conduct Authority rules, which lets you cancel for a full refund if you have not made a claim. After that period you can still cancel, but the insurer may charge a proportion of the premium for the time you were covered.
How do I make a claim with my insurer?
Contact the insurer as soon as possible using the claims number on your policy documents, and follow their instructions on evidence such as photographs, receipts, police reports or medical records. Insurers must handle claims promptly and fairly under the Financial Conduct Authority's rules on claims handling.
What happens if my insurance claim is refused?
The insurer must give you a written reason for refusing the claim, and you can ask them to review the decision. If you are still unhappy, you can take the complaint to the Financial Ombudsman Service, which is free for consumers and decides cases independently of the insurer.
How do I complain about an insurance company?
Make your complaint to the insurer in writing first, describing what went wrong and what outcome you want. If you have not received a final response within eight weeks, or you are dissatisfied with it, you can refer the matter to the Financial Ombudsman Service within six months of that final response.
Is my money protected if my insurer goes bust?
Yes, if an authorised insurer fails, the Financial Services Compensation Scheme protects policyholders. Compulsory insurance such as motor cover is protected in full, while most other types of cover are protected for 90 per cent of the claim with no upper limit.
What are my rights when buying insurance in the UK?
The Consumer Duty and the Financial Conduct Authority's rules require insurers to deliver good outcomes, treat customers fairly and communicate clearly. The Consumer Insurance (Disclosure and Representations) Act 2012 also protects you from unfair consequences if you make an honest mistake when answering questions at the point of sale.
Do I need to renew my insurance every year?
Most annual policies renew automatically, and the insurer must tell you the renewal price in good time before the renewal date. Under the Financial Conduct Authority's rules, insurers must not charge loyal existing customers more than new customers for the same cover, so check the renewal terms each year and compare the market if the price rises.
What should I look for in reviews of an insurance company?
Read reviews that describe the claims experience in detail, because that is where insurers are most tested. Pay attention to whether reviewers mention how quickly claims were settled, how the insurer communicated, and whether complaints were resolved, and treat a single extreme review with caution.
Can I trust online reviews of insurers and comparison sites?
Check that reviews are recent, specific and describe a real experience with a named product, and be wary of reviews that read like advertising. Reviews are not a substitute for checking that a firm is authorised on the FCA Register and reviewing its complaints record.