Thousands wasted on unnecessary insurances

People could be wasting thousand of pounds on useless and expensive insurances, says the new Which? Money Saving Handbook.

Although some insurances are must-haves, such as life insurance, others are often completely unnecessary, have high obstacles to climb and pay out in comparably few cases, warns the Which? Essential Guide.

Despite claims of “peace of mind”, the majority of what is covered by these insurances is often already protected by legislation or existing insurance policies.  For example, accidental death and injury may well be covered under standard life insurance.

Which? Money Saving Handbook identifies and explains the top five Insurances to avoid:

  • Extended warranties
  • Identity theft cover
  • Payment protection insurance (PPI)
  • Mobile phone cover
  • Accidental death and injury cover

Tony Levene, author of Money Saving Handbook, says: “You can buy insurance to cover yourself against almost any conceivable risk - even alien abduction. The insurance industry’s favourite phrase is “peace of mind”, but it uses this to justify policies that cost a lot and are almost impossible to claim against. Instead of just blindly following what the salesman says, people should carry out a risk assessment of their own and make an informed choice about whether they actually need the insurance, and whether it’s worth the premium.”

Money Saving Handbook is written by Tony Levene.  The book can be ordered on 01903 828557 (£10.99, p&p free) or at or bought from bookshops.



Comment on this page »


Latest news

Chelsea and Westminster named the best place to work in the NHS for 2015

Nuffield Health opens doors of new Cambridge Hospital

Nuffield Health plans to open state-of-the-art diagnostic suite

Thousands wasted on unnecessary insurances
Connect with us on:

This site compiles with the HONcode standard for trustworthy health information