Friend or Foe? The internet’s relationship with Insurance.
This is the first of a series of blogs which will hopefully illuminate the ‘Devil in the detail’
For all the general good the internet promises it does not specifically provide the searcher with bespoke contractual services such as Commercial and Domestic insurance policies, nor does it provide an education process on how to achieve accurate values of appropriate cover. Access to insurance through the internet is often through aggregate sites which harvest key information from you, ultimately pointing you to a preferred insurance provider. Generally, the questions asked are broadly enough to capture you and never asking for precise detail, mostly questions are framed to be approximate acting as a gateway to the contractual world of insurance. The key to the gateway is understanding insurance terms, perhaps also an understanding of how a policy reacts ultimately to your needs when lodging a claim, which of course is the whole point of having a policy, protect and to recompense.
No matter how much you think you know it will never be enough, policies are varied, providers are varied, terminology is varied your needs are variable and of course premium costs are varied. The greatest problem lies with not having a policy to review before you purchase or commit to purchase, all well and good downloading sample policies from various providers but, do you have the time to read and absorb before your need to have one in place becomes critical. Unfortunately, the internet is instant, which encourages us to be instant in return, the danger in being instant is that we are immediately drawn to the bottom line The Cost, with little consideration given to suitability or benefits. Most Aggregate sites will high-light the glossy benefits however, almost never high-light pitfalls such as underinsurance or not adhering to conditions or warranties for example. The Devil in the detail!!............to be continued.
If you have been declined while trying to claim on your domestic or commercial insurance, we can help. We can also help with professional services, for example, Brokers, VAR Valuations and Managing Agents.