Insurance for bank cards

Cacran

I have always paid a premium to a company called Sentinel which covers me for lost or stolen bank cards. They list all the cards in the household and if they are notified of their loss, they cancel all your cards for you. Over the years, their cover has extended to loss of passports, driving licence, purse/wallet keys for house or car. Obviously the premium has gone up too. I think that maybe this is insurance overload. What do others think?

grumbler

I think you wasted a lot of money. Is it that difficult to call the CC company yourself?

jonesMUFCforever

How many cards are in your wallet?

How many phone calls would you have to make if your wallet is stolen or lost?

With Sentinel you need only make one call.

You pays your premiums and takes your choice.

innovate

If you have just one card, paying for Sentinel makes no sense _--_ you have to remember 1 phone number, regardless, to report any loss.

If you have several cards, I think the Sentinel service is probably still one of the best "insurance" schemes of its kind. You can make other arrangements yourself that cost no money, but you need to be certain that all your cards get blocked if you need them to be blocked. Having to make just one single port of call if you need emergency assistance could be hugely helpful.

dalesrider

Cacran wrote: »

I have always paid a premium to a company called Sentinel which covers me for lost or stolen bank cards.

Cards Gone...

Do you update them every time you get a new card? Because you should as the details change....

We still get details from these co's for people listing old Maestro cards.... Not been issued for years....

Personally a total waste of cash.
Just keep a list of lost/stolen no's for your cards in a couple of places.

pmduk

I think it's a personal thing, for me it would be a total waste of money, others may consider the peace of mind worth the premium.

Cacran

Thank you for all your views on the matter. I think I will take my chance and save some money.

G_M

Is it just me or

do other people not keep all their cards in their wallets?

One reason(just one) being that if my wallet gets stolen, I've got a fall-back card or 3 at home to keep megoing.

But if they were all listed with Sentinel - oops! Whole lot cancelled!

Personally I think its like PPI. If you want to insure stuff, go ahead, but personally I thnk it's a waste £.

InsideInsurance

G_M wrote: »

But if they were all listed with Sentinel - oops! Whole lot cancelled!

Personally I think its like PPI. If you want to insure stuff, go ahead, but personally I thnk it's a waste £.

I dont have inside information on their claims process but suspect that when you call them they confirm with you which were lost in the incident.

If you carried your logic on then not only would they blindly cancel all the cards but send you a cheque for a new passport and driving license - insurers dont send money if they dont have to