Home Sellers Appliance Insurance

Banks and insurers targeting customers with offers for insurance they really ...

Banks and insurers are targeting customers with offers for practically useless low-cost insurance.

Consumers are being sold insurance for anything from kitchen appliances to electronic gadgets and policies to protect your identity in the event of ID fraud. But in most cases the cover can prove useless.

So rife is the sales push that complaints about insurance to the independent Financial Ombudsman Service have leapt by a third. The City watchdog Financial Services Authority (FSA) is understood to be monitoring the situation closely.

Many of these policies are a waste of money, as in many cases they’ll simply be duplicating existing cover you may have elsewhere. For example, many electronic gadgets may already be covered on your home contents insurance. Other criticisms are that they feature exclusions and small print which make it hard to claim, and are subject to  rip-off premium price hikes.

David Black, banking specialist at analyst Defaqto, says: 'There is a huge appetite in banks for selling these kinds of products to existing customers — although banks like to call it "deepening the relationship". In reality, this is a way for banks to try to claw back their profits.'

Parts of the industry behind these products are already under scrutiny.

Card insurance company CPP has been investigated by the FSA following concerns over the way it sold identity theft policies. And HomeServe, which suspended its call centre staff from selling emergency cover after allegations of mis-selling policies in November, has yet to report on an internal investigation or reveal details about any compensation to some 48,000 customer complaints it is reviewing.

What insurance should you beware of?

Here’s Money Mail’s guide to the insurance to beware of:

The cover costs from £7.99 to £12.

After the warranty period troublesome appliance industry calls ...

After the warranty period troublesome appliance industry calls “medical insurance” – TV, r

Article by jekky

Buy appliances generally have a warranty. Most of the warranty period do not worry about warranty issues. However, many people feel headache. Members of the public appeal: Zhanjiang, household appliances also like foreign cities, the establishment of “ health insurance ” system.

According to “Zhanjiang Evening News” reported that according to state regulations, appliance warranty general set period of time. However, most of the warranty period is two years, much longer life of appliances. As a result, household electrical appliances such as quality over warranty problems are a headache. People spend more than 7000 yuan Huang bought a television, shortly after the warranty period, problems start to appear. No way, only their own expense Naqu maintenance. However, shortly after another bad repair. Mr Wong said, “maintenance costs than the more expensive parts, really ‘Mui Tsai larger than an imbalanced’. Had sighed bad luck.”

Reporter learned from an electrical repair shop, television, refrigerator, air conditioning, mobile phones, computers, household appliances are most commonly used, there is almost a guarantee period had troubled situation. Expensive, and even endless repairs, often people headache. Maintenance has been described as a “bottomless pit.” Members of the public believes that the time limit for the warranty period is unreasonable, since most appliances are used for some time before the bad, the new appliances bought are very few problems the first two years, this is the case, the guarantee period amounts to an empty set.

Calling home appliances market, “Health Insurance” Wong people figuratively, some home appliances only “warranty qualified”, a warranty must spend money over the “health” of the. Mr Wong suggested, should be a home appliance market, Zhanjiang, “health insurance”: that is to buy home appliances, consumer Jiaoqian buy a “health insurance”, the manufacturers warranty period consumers can enjoy a 1-3 year warranty.

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