What to consider when buying insurance
You can’t stop the unexpected happening but with the right insurance, you can protect yourself, your family and your belongings when things go wrong. If you’re burgled, insurance can pay to replace the stolen items. If you need medical treatment, insurance can pay for private healthcare. And in the case of accidental injury, insurance can help you financially.
As part of our commitment to helping you make an informed decision, here are some things to think about before you take out insurance.
- Is insurance right for me?
- What type of insurance is available?
- What commitment do I need to make?
- Are there any risks?
- What else should I think about?
Some types of insurance may be compulsory, such as buildings insurance if you have a mortgage and car insurance if you drive (third party is the minimum requirement). Most other insurance products aren’t compulsory. However, they can give you great peace of mind when life takes an unexpected twist. We’ll be happy to go through the options with you.
What type of insurance is available?
We offer many different types of insurance including car*, buildings and contents, travel, pet, mortgage repayment cover, medical, life and critical illness. Ask yourself what kind of cover you want and at what level.
What commitment do I need to make?
To ensure that you are covered, your commitment is to pay your annual or monthly premium. Most insurance policies cover a 12 month period, apart from single trip travel insurance and long term insurance cover such as Life and Critical Illness. Most feature cooling-off periods of between 14 and 30 days in case you change your mind.
Before you take out a policy, you must give us accurate information and read the policy summary document provided. Once your policy has been issued, you must tell us if your circumstances change. The policy documents will provide you with the limits of your cover.
For most of the insurance products that we offer, you can pay for your cover in a lump sum or in monthly instalments. Monthly instalments must be paid in full and interest may be charged. This will be stated within the policy summary document.
If you fail to keep up with your payments, we will cancel your cover. Also, if you don’t provide accurate information when setting up your policy, or fail to advise us of any change during cover, your insurance may be invalid. There may be situations which aren’t covered by your insurance. Always read your policy terms and conditions and contact us if you have any questions.
What else should I think about before I commit?
It’s important that you select the correct level of cover when setting up your policy based on the information provided. If you choose the wrong level of cover, you may find yourself under-insured or paying for cover you don’t need.
Customer Review Service
If you'd like to discuss our insurance products and your finances in more detail, why not have a face-to-face review in branch? Find out more about our Customer Review service.
Please note that healthcare products are only available online or over the phone.
* Our car insurance is not available in Northern Ireland.
