MSE News: Car insurance quote too good to be true? Watch it's not a ghost broker 20 November 2013 at 6:44PM in Insurance & Life Assurance 6 replies 2.1K views

Former_MSE_Darryl

"Drivers are being warned about being ripped off by "ghost brokers", who sell fake insurance polices at cheap prices..."

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Car insurance quote too good to be true? Watch it's not a ghost broker



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Pincher

If I'm dealing with an unknown brand, I usually pay with credit card, because the credit card company can get the money back. The credit card fee is effectively an insurance premium I pay.


Debit cards do not have the same protection, unless they say so.
I think this is because the money is actually transferred out of your current account, so it's really gone.

magpiecottage

Look the firm up here.

If it doesn't come up then it is not a real broker.

If you are not sure, call the number on the "basic details link for the firm and double check.

minislim

again it all boils down to con merchants either turning up on your doorstep or ringing you on your phone.

would you just hand money over to a complete stranger if they turned up on your doorstep.

its about time cold calling was banned in this country. its being abused far too much and too many people are the victims of cons like these.

yes there are a few legitimate companies who still try the cold calling technique but its about time they come out of the dark ages.

sithemadmonkey

It's surprising how clever the fraudsters are getting though. Some have set up professional-looking websites (e.g. Aston Midshires), and others will 'clone' an authorised firm (i.e. use their name and authorisation number so that they appear to be on the register). Many will specifically target those who are new to the country and so have poor knowledge of both English and insurance requirements.

As the age-old mantra goes - if it's too good to be true (and isn't recommended on MSE), it usually is!

Ectophile

Pincher wrote: »

If I'm dealing with an unknown brand, I usually pay with credit card, because the credit card company can get the money back. The credit card fee is effectively an insurance premium I pay.


Debit cards do not have the same protection, unless they say so.
I think this is because the money is actually transferred out of your current account, so it's really gone.

That still won't help you when your car's been seized by the police, and you've got points on your licence for driving while uninsured.

magpiecottage

There is also a spate of bogus companies giving weak addresses that appear to provide an entry in the Financial Services register but in fact are bogus.

The link I gave above is genuine but if you cannot remember it, if you go to www.fca.org.uk you will find a link at the top right that says "Financial Services Register" click on that and then a link to Financial Services Firm Search.

Look for them there - and check the web and trading address there matches the one given to you by the firm itself.