General insurance: types and how to shop around :Cross Stitch – Money, tax and benefits

General insurance includes most insurance except life insurance. You can shop around for general insurance and buy direct, or get advice. The Financial Services Authority (FSA) regulates most sales of general insurance and pure protection insurance. This means firms must follow certain rules and standards when dealing with you.

With so many insurance deals on the market it’s worth shopping around. Key points to compare include:

• suitability for your particular needs
• cost
• flexibility: what happens if you miss a payment or wish to cancel or switch?
• terms: when does the policy pay out/are there restrictions?

When you contact an insurance provider, they will give you details of the service they offer. This can normally be found in the ‘about our service document’.

Once you’ve discussed what you need and answered all the questions about yourself and what you want to insure, the intermediary, insurance company or the firm selling you the insurance will give you key policy information. This sets out the essential facts.