Buying Insurance

Simply by not owning three medium-sized castles in Tuscany I have saved sufficient money in the last forty years in Insurance Premiums alone to buy a medium-sized castle in Tuscany. Punch, 2009

Nobody likes to dwell on disasters, but accidents, fires, thefts, illnesses and death don't only just happen to other people. Insurance can't stop these things happening to you, but it can prevent financial hardship as a result. That doesn't mean that you must take out every kind of insurance available. The things which you are most likely to want to insure are:

- your home. If you own or are buying your own home, you need house buildings insurance

- your belongings. You need house contents insurance for things like your clothes, books, cameras, furniture and carpets

- your means of transport. By law, you must have at least some insurance if you run a car (or various other vehicles, such as a motorbike)

- your life. If anyone - children, wife, elderly parents and so on - is dependent on you and would suffer financially if you were to die, you need life insurance

- your health. If you'd be hard up if you had to stop work for a long time due to illness or disability, you should consider permanent health insurance - particularly if you're self-employed- your holiday. If you're going on holiday - particularly abroad you'll usually need holiday insurance.

Click here for more information on Deposit-type Accounts


Mistakes can happen but the damage can often be minimised if you spot them quickly and take steps to get matters put right.

Always check your bank statements. Though there's no legal obligation to do this (as there is in some countries) it may alert you to any error.

If you find a mistake, contact your branch as soon as possible. If you make a personal visit, take with you any relevant papers, such as records of cash withdrawals, copies of direct debit forms, and so on. If the problem is complex, it might be helpful to take along a brief written summary of the facts. If the counter... see: Complaints

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