Card Protection Insurance

pat_sexy

Hi eveyone,

I have a insurance policy through my bank NatWest offering protection for all my Credit/Debit cards, important docs like Passport if lost or stolen.

I pay in £20 per year.

In your experience is such a policy really useful?

Are there any questions I should be asking myself?

Thanks,

Pat

shock222

pat_sexy wrote:

Hi eveyone,

I have a insurance policy through my bank NatWest offering protection for all my Credit/Debit cards, important docs like Passport if lost or stolen.

I pay in £20 per year.

In your experience is such a policy really useful?

Are there any questions I should be asking myself?

Thanks,

Pat

i have the same protection with lloydstsb also £20 a year i have had this for 9 years and paid about £160 to £180 in that time no problems or claims as yet is it woth it ???

Vindiesel

OP

why don't you clarify how much your policy will actually cover you for in fraudulent transactions, or loss compared to what the bank willl pay out for anyway..?

I personally don't think they are worth the paper they are written on. Maybe if you are scatter-brained and prone to losing things, or have had the mis-fortune of being mugged in tha past (I know I have), or been pick-pocketed, you may think the outlay outweighs the risk. If not, you may think it doesn't.

There is a school of thought that a lot of this community subscribes to that says why don't you save your £20 per year in a savings account, and if something happens, utilise that money to 'cover' yourself. Obviously you may only have a balance of £20, but you have £400 stolen- but then relate that back to what the bank will cover you for anyway, if anything..

Ask em, and weigh up the risk and benefit..the choice as they say, is yours!

V

gazza975526570

Get rid - in my opinion a total waste of hard earned money