Travel Insurance -
Stopping travel insurance that is not needed - 05/03/2008
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The insurance industry often refers to the ‘protection gap’, the difference between the number of policies people have, and the number of policies insurers think people should have. Unsurprisingly the second figure is larger than the first.
It has recently been suggested that people are likely to be over-insured rather than under-insured. An example cited for this is travel insurance, many people purchase a travel insurance policy when booking their holiday without realising it, they may then seek a separate travel insurance policy, being covered twice unnecessarily.
Mobile phone insurance is something else that bemuses consumers, Vodafone offers its customers mobile phone cover free for the first three months of their contract, however at this point if you do not cancel the policy you will automatically have to pay for it.
The point in hand is that people should ensure they know exactly what they are covered for with each company and what additional insurance they need to purchase.
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