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MoneyExpert Insurance feedback

Former_MSE_Wendy
Former_MSE_Wendy Posts: 929 Forumite
I've been Money Tipped! Newshound! PPI Party Pooper Chutzpah Haggler
edited 17 April 2012 at 2:05PM in Insurance & life assurance
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Comments

  • *MF*
    *MF* Posts: 3,113 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    One of the paragraphs in the "Cheap Home Insurance" section reads as follows:



    What if my insurer goes bust?

    Insurance providers are covered by the government-backed Financial Services Compensation Scheme (FSCS) the same as banks, meaning if they go into default, you're protected

    May I suggest MSE Admin re-think whether the comments are factually correct, and in no way mislead members.

    1) Funding for the FSCS - is it correct to call it "government backed"?

    See here :

    http://www.fscs.org.uk/consumer/about_us/funding/

    2) Saying it is "the same as the banks" - Ermmm, you sure, I mean really sure????
    If many little people, in many little places, do many little things,
    they can change the face of the world.
    - African proverb -
  • forestlands
    forestlands Posts: 105 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    edited 15 July 2011 at 2:26PM
    Hi,

    Unable to get a realistic quotes as motor model not recognised, have Suzuki Samurai Jeep 3 door 2 seats web sites insist must be a 5 seat Samurai Tobago. Also, insists I live in Colchester, Essex because I have a Colchester post code. I have an Ipswich phone number and live in Suffolk about 10 miles from Colchester and 8 from Ipswich. County could affect the amount of insurance I pay.

    Have received a renewal from Saga which is £50 cheaper than any quote I have been shown on any comparison web sites:exclamati
  • InsideInsurance
    InsideInsurance Posts: 22,460 Forumite
    10,000 Posts Combo Breaker
    Why state you should try and protect your NCD given your article is about getting the lowest cost (aka cheap) insurance?

    Naturally you can have bad luck, but even with NCDP you can still have really bad luck, but the average person is worse off with NCDP than they would be without it. Insurers wouldnt allow you to insure your NCD if they didn't make a profit from it. Plus if you use the old fashioned NCD progression and NCDP costs the maths are fairly easy to work out your quids down (on average)
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