Adequate insurance needs to be arranged by winter sports fans

With winter now here there may be many people that are planning on heading out for a break to enjoy the exhilarating thrill of winter sports. This is the type of holiday that is hugely popular with many people, but is also the type of break that comes with increased risks due to the higher risk of injury. There are also higher risks posed because of the costly equipment that holidaymakers on winter breaks have to take with them, which can cost a fortune in the event of loss, theft or damage.

Officials are now urging consumers to ensure that if they do decide to take a break involving winter sports they take the time to take out the right level and type of travel insurance. Whilst some people may already have travel insurance or may take out a standard policy it is necessary to take out a special policy when participating in winter sports. Without this, the holidaymaker may find that they are not covered and in the event of an accident, injury or issue with equipment this could prove to be extremely costly.

When arranging travel insurance for winter sports holidaymakers need to make sure that not only are they covered against the increased medical and health risks that come with winter sports but that they also ensure that their costly equipment is also covered. With standard travel insurance a large percentage do not provide cover for any type of winter sports, which is why travellers need to check their policy before they head off on a winter holiday.

One official stated: “To ensure they get the right type and level of cover for their trip, people need to focus first and foremost on pinpointing the features they need.”

Tags: health, whilst, winter, theft, winter holiday, break, event, policy

Santander admits to glitch over statements

Banking giant Santander has recently admitted that it has made a grave error that resulted in tens of thousands of its customer receiving the details of other customers on their bank statements. This is another of a string of security breaches made by banks and building societies over the past couple of years that has put consumer at increased risk of identity theft.

For many, ID theft is a very serious and frightening prospect and with fraudsters becoming more and more prevalent in the current climate many people have become increasingly nervous about falling victim to their crimes. However, security breaches such as the one by Santander can put people at increased risk of falling victim to this sort of crime.

According to officials from Santander it was a printing error that caused the problem on this occasion, as it resulted in pages from other people’s statements getting mixed in with accountholder statements that were being run to send out. This meant that whilst accountholder received details of their own transactions they also receive details of other accountholders transactions too.

Whilst the bank has apologised for the breach it has also said that customers accounts cannot be accessed using the details from the statements. An official from the bank said that although customers could see other customers’ details they could not be used to get into the account. Some customers are still worried though.

One customer said: “Initially I thought the statement was mine because my name, address and account number were correct, but when I turned the page over, I could see that transactions were someone else’s. I could also see the other person’s name, account number and sort code,” said Anne Robb, from Edinburgh. I called the bank to complain. The staff were very professional and helpful, but I am still concerned that someone has details of what money comes into and goes out of my account.”

Tags: identity, run, banks, problem, breach, name

Consumers need to be careful with bank statements and literature

Industry officials have warned that given the increase in identity theft and fraud over the years consumers need to start being far more careful with their bank statements and other literature that may have personal details on such as credit card statements, bills, bank letters, and other sensitive documents.

Many people tend to treat their personal documents, financial letters, and statements like normal waste paper, and simply put them into the waste paper basket when they are done with them or sling them into black bags outside. However, this leaves them open to identity theft because once they are in the rubbish outside they are accessible by anyone.

Experts have said that in order to minimise on becoming victims of identity theft and fraud consumers should ensure that all paperwork such as this is shredded properly so that others cannot access details about the accountholder. The advise has come from the fraud prevention service CIFAS, which has outlined some of the dangers that can lead to consumers becoming victims of identity fraud.

CIFAS said that the effects of fraud can be far-ranging, stating this could be anything “from finding out that a fraudster has set up, or attempted to obtain, accounts, products and services in your name, through to discovering that an existing account has been emptied by criminals”.

The agency said that it was not only paper documentation and bank details that consumers had to be careful with, as many fraudsters and identity thieves were now operating online. Officials said that it had therefore become increasingly important for consumers to be more vigilant and careful when reviewing or using their financial accounts via the internet, as otherwise fraudsters could quickly and easily gain access to important account and personal details.

Tags: Bank statement, name, identity, Crimes, identity theft, waste paper

Economic downturn results in rise in shoplifting

The economic downturn has apparently led to an increase in shoplifting activity in the UK according to a recent report. Figures have shown that retailers have seen a sharp rise in shoplifting activities over the course of the recession. The figures formed part of the latest crime survey by the British Retail Consortium, which revealed that between 2008 and 2009 shoplifting activities had increased by around one third. Read more

Tags: theft, Criminal law, Crimes, Shoplifting, Ethics

Burglars’ activity rife during recession

On the back of the recent huge robbery at a London Jewellery store, where £40 million worth of loot was taken, industry officials are now warning consumers to be on their guard. Read more

Tags: hassle, company, theft, GBP, burglary, August, Insurance

Frost increases theft as cars left unattended

“When the icy mornings start” theft claims increase, as drivers leave their cars unattended while defrosting, say insurance experts.

The British Insurance Brokers’ Association (BIBA) says that car owners should stay with their vehicles to avoid becoming victims of this new type of car theft – “frosting”.

Graeme Trudgill, technical and corporate affairs executive at BIBA, said: “Unfortunately, gone are the days when you can leave your door open…and the same goes with your car. You do need to take security measures there.”

He added that drivers are being sensible by defrosting in the first place, as it would be dangerous to drive with only a small gap in the windscreen through which to see.

However, it could be contentious when making an insurance claim in a situation where a driver has left a vehicle unattended as insurers will argue “you haven’t taken reasonable care,” warned Mr Trudgill.

In January 2007, Sainsbury’s Bank estimated that between 2000 and 2005 as many as 121,730 households may have become victims of “frosting”.

Tags: theft, Financial services, January, Insurance, theft claims, Sainsbury, corporate affairs executive

Do tenants need home insurance?

Home insurance is a vital form of protective cover for homeowners, as it provides valuable protection against the financial losses related to damage to the home, or damage, theft, or loss of belongings. Read more

Tags: belongings, rented, fire, Insurance, cover, damage, tenant, home

Credit card fraud on the rise, according to Experian

Identity fraud, with thieves taking credit card numbers from victims, is on the increase, financial information provider Experian said today.

Recent research from the company shows a 69 per cent year on year rise in identity fraud between 2004 and 2006.

Experian spokesperson Peter Brooker said that a new generation of fraudsters was taking the theft of credit card numbers as a mere starting point.

“One of things we are seeing is that there is an awful lot of current and previous address fraud”, he said. This occurs when “the fraudsters are actually, not just taking over people’s accounts or using various methods to get hold of people’s credit card numbers, but are actually taking their entire identity”.

Research from KPMG, out today, shows that overall rates of fraud are rising dramatically, valued at a total of £594 million in 107 cases coming to court already this year.

This beats the overall totals for the years 2000-04, combined, with KPMG terming the figures a “step change” in fraud rates.

Tags: previous address fraud, new generation, Credit card, spokesperson, theft, people's accounts, identity theft, overall rates

Cost of comprehensive car cover at its highest in two years

According to recent reports those purchasing comprehensive vehicle insurance on the direct market are having to pay the most expensive premiums for two years.

The research was carried out by Experian, and indicates that in May of this year comprehensive vehicle insurance premiums rose by nearly 8 percent compared to the same period in 2006. There are a number of factors that can affect the cost of premiums, including age, past driving convictions and claims, and the make and model of the vehicle being insured.

The research also indicates that consumers could find it cheaper to get comprehensive cover on the intermediary market rather than through the direct market.

Even policies from the intermediary market are at their highest in nearly a year for those looking for comprehensive cover, but these are still likely to be a fair amount cheaper than direct market policies, with the average cost for a comprehensive policy in May of this year coming in at £530 compared to £560 through the direct market.

The report also showed that the cost of third party, fire, and theft cover was higher in both direct and intermediary markets, and it is thought that one of the reasons for this is because this type of policy is typically taken out by younger drivers due to affordability of comprehensive cover, which pushes up the cost of premiums.

Those looking for car insurance cover in either market are advised to shop around, as the cost of cover can vary quite widely from one insurer to another. This can be done through a price comparison website as well as by searching through individual insurers online, although the latter is likely to take more time.

Tom Smith
7th July 2007

Tags: cost, car, party, cover, third, Insurance, comprehensive, fire

Important documents ‘left languishing in drawers’

Brits are leaving their home insurance documents unread and have no idea of what they are covered for or the terms of their contract, according to new research.

Tesco Home Insurance has found that a third of homeowners in the UK leave their insurance documents languishing in a drawer with 41 per cent of them saying they have no idea of their content cover limit, despite this having massive repercussions in the case of a theft.

You should always make sure that any precious articles in your home are specified in your contract if they are above your insurer’s individual article limit. And always tot up how much all your possessions are worth so you do not become underinsured.

“We would urge all homeowners to read through their documents to familiarise themselves with the terms and conditions of the policy they have purchased. If they are unsure of any points, they should contact their insurer for clarification,” said Allan Burns, from Tesco Home Insurance.

He said another thing Brits may want to consider is family legal protection cover and accidental damage cover for any accident-prone people.

Tags: content cover limit, theft, clarification, allan burns, tesco

Check your garden is protected against theft

Although the British summertime is a pleasant period for green fingered people and garden lovers, it is also a time that can increase the risk of theft from outside your actual house – from your back garden.

Many people are looking forward to spending time sprucing up their gardens, adding plants, and enjoying barbeques with families, and the popularity of garden programmes on television has seen more and more people invest in their gardens, often spending huge amounts of money on their pride and joy.

However, as summertime approaches insurers are warning consumers to check that they have adequate cover to protect the items on their gardens. Summertime thieves will target everything from expensive plants and shrubs to barbeques, lawnmowers, decorative ornaments, furniture, tools, and just about anything else that could be of value in your garden. And without adequate cover this could mean financial losses as well as a ruined garden.

According to the Halifax the average claim for garden based theft last year was around £400. Claims tripled between March and August last year according to the Halifax, and there were total claims of around £1 million last year relating to garden based theft. Some of the items may be covered under the regular home insurance cover, but many do not cover plants and therefore additional cover may be required.

Consumers should contact their home insurance providers to see what sort of garden items and equipment are already covered, and can then arrange additional cover if required. Cover on garden items can vary from one insurance provider to another, and terms and conditions for making a claim can also vary, so this is something else that consumers will need to check.

Tom Smith
7th June 2007

Tags: policy, Insurance, theft, plants, garden

Am I Insured To Drive Anyone’s Car?

Confusion

Whether you have got fully comprehensive insurance and want to drive somebody else’s car or whether you have only third party insurance and want to do so, it’s a confusing mess – the simple question is, are you legal or not? Read more

Tags: fire, comprehensive, car, cover, all, motor, anyone, permission, policy, Insurance

Summertime brings garden danger

We are being warned to be extra vigilant this summer as thieves look to strike in our gardens.

Halifax Home Insurance says that incidents of garden theft increase dramatically between March and August every year as people begin spending more time outside.

With the clocks set to go forward on Sunday (March 25th), Britain is officially entering summertime and that inevitably means we will begin taking out our patio furniture.

The warning from the insurance firm however, is that we must all take precautions to keep out garden furniture safe and should be covered against theft.

“Homeowners can forget to pay as much attention to security outside the house as they do inside,” said Vicky Emmott, senior manager of underwriting at Halifax Home Insurance.

“With many people realising how much value they can add to their property by improving their gardens, there are now rich pickings for thieves, and now is the time to take steps to avoid becoming the next.”

According to the insurer, the average claim for garden theft is around £400, while those living in Stoke-on-Trent are the most at risk.

Doncaster and Southampton follow closely behind, with Halifax revealing that tools, barbecues, garden furniture and bikes are the most popular items to be taken.

Homeowners are advised to lock all valuable garden items away when they are not in use, while gates should remain locked when you are not sitting in the garden.

Tags: March, Summertime brings garden, Insurance, theft, Britain, finance, year

Theft : A Vital Part of Car Insurance

Car theft has increased in the UK and more than a 100,000 cars are being stolen a year. The insurance claims for car theft are 1 policy claim out of 20, and the car insurance companies want drivers to realize the need to protect their vehicles from these incidents. The more claims made to an insurance policy, the higher the premium. Read more

Tags: car theft, theft, car insurance, owner's keys, luxury cars, United Kingdom

ID theft warnings ignored

Too many Britons are still bypassing advice on how to protect themselves against identity theft, credit reference agency Callcredit has warned.

A third of Britons continue to throw away documents such as bank statements and receipts, which contain vital personal information, without shredding them first, a study from the Information Commissioner’s Office found this week.

Meanwhile, as many as a quarter of people would be oblivious if they were targeted by identity fraudsters – since they do not check their bank statements.

Customers should work these small but important habits into their financial routine, stressed Callcredit’s director of industry relations Melanie Mitchley: “Personal data is the lifeblood of identity thieves and they are gorging themselves on people’s complacency.”

“Remembering to destroy personal documents such as bills and statements before throwing them away would go a long way to starving ID fraudsters of opportunities,” she added.

Amid growing concerns about hi-tech online identity fraud, it’s important to keep your PC or laptop updated with anti-virus and firewall software to exclude hackers.

According to the UK fraud protection service, CIFAS, the number of victims of identity impersonation rose 19.91 per cent last year compared to 2005 levels.

Tags: thieves, credit card fraud, identity theft, year, Personal computer

January worst month for burglary

A robbery takes place in Britain every 35 seconds during January, with figures showing it to be easily the worst month for crime.

According to Halifax Home Insurance, we are 26 per cent more likely to have our homes broken into during the first month of the year when compared with the annual average.

It is estimated that around 76,000 homes will be broken into during January, costing a collective £170 million.

Halifax is trying to get the message across that it is vital to take out insurance, while the firm is also attempting to help homeowners prevent crime in the first place.

“We tend to see a rise in burglaries during January as burglars know that it is the time when our homes are packed with lots of new and expensive items, ranging from electrical goods to jewellery,” said Vicky Emmott from Halifax Home Insurance.

“We must remember that thieves are opportunists, and will strike during the day or night if they feel a property has inadequate security and the timing is right.”

Official crime statistics show that a huge 40 per cent of burglaries take place during daylight hours (06:00 – 18:00), highlighting the fact that thieves are willing to strike at any time of day.

Homeowners are being urged to remain vigilant throughout the day and night in order to avoid becoming a victim of burglary.

“The fact so many burglaries take place during daylight hours shows the importance of always remaining vigilant,” added Ms Emmott.

According to Halifax, Nottingham, London and Leeds are the worst areas for theft, while Colchester, Bath and Shrewsbury are the safest.

Tags: theft, GBP, order, firm, halifax, london, day, worst areas

Content insurance claims due to rocket in January

Barclays Home Insurance experts have warned that the level and cost of contents insurance claims in January is likely to rocket compared to claims made over the rest of the year, following a similar trend to recent years. Barclays state that this is due to the increase in thefts and burglaries in homes over the festive period, where thieves target homes because of potential rich pickings in the way of gifts, as well as the increased likelihood of homes being empty due to homeowners being out at parties or visiting relations.

According to Barclays Insurance the number of claims during the month of January can rise by around fourteen percent, and based on last year’s figures the cost of claims could shoot up again this year. In January 2006 there was a rise of fifteen hundred pounds compared to the amount claimed throughout the rest of 2005. Barclays experts state that consumers need to take care to minimize the chances of theft.

Barclays also advise customers to ensure that they have adequate cover in place in order to protect themselves during this higher risk period.

One official stated: “The least you can do to make sure your Christmas doesn’t get spoilt by burglars, is to ensure you have sufficient cover in place as part of your home insurance policy. While your insurance won’t be able to compensate you for the distress a burglary can cause, it will allow you to replace all of your stolen items, so that your Christmas doesn’t have to end in a bitter disappointment.”

Consumers are also advised not to leave present on show, and to ensure that there is someone to look after the home in the event that they have to go out for a long period or are away visiting relations.

The Barclays spokesperson added: “Christmas should be the time of fun and happiness but it has unfortunately also become a time of year where more thefts and burglaries are occurring. Nowadays many presents are high in value but also light and portable, such as laptops, jewellery, gadgets like iPods and BlackBerrys or the latest games console – making them ideal targets for burglars. ”

Tags: cover, theft, contents, christmas, burglary, claim, home, steal, barclays, Insurance

8000% Rise In Internet Banking Fraud

Many banks have started to offer online banking facilities in the UK, and some banks even operate exclusively online.  Although consumers seem to be growing increasingly confidence with regards to conducting their banking online, the alarming figures indicate that perhaps further information needs to be made available to consumers with regards to Internet banking fraud and how it works.

It seems that the main culprit in the rise of Internet banking fraud is a process known as phishing, and this is where fraudster set up fake website or send out fake emails in a bid to obtain the account details of consumers. Many consumers that are used to banking online don’t think twice about providing their details, but banks have already stated that they do not send out emails to account holders asking them to enter their account details.

Colin Whittaker, Head of Security for APACS, stated: “The rate of growth in phishing is down to a number of factors not least that they have been able to industrialize the process by which they are launching attacks. It seems people are falling victim to phishing attacks less often, which is one of the reasons there has been an increase in the volume of phishing emails.”

According to officials and watchdogs in the UK, millions of pounds have been swindled from unsuspecting consumers, who assume that any emails that they receive with the name of their bank on it must in fact be from the bank. However, consumers that receive such emails should never provide their account details, and should instead report the incident to their bank. 

Tags: theft, Banking, internet, fraud, abuse, phishing, online, rate, increase, identity

UK consumers should compare contents insurance policies

With experts advising UK consumers to ensure that they have adequate contents insurance cover over the festive period, which is when there is an increased risk of accidents, damage, and theft, Insurancewide.com has now added an additional warning – that consumers thinking of taking out cover to protect their contents should be careful when it comes to companies offering special Christmas and festive deals and discounts on cover.

According to Insurancewide.com there are a number of companies that are offering a range of offers on contents insurance cover over the coming Christmas and new year period, with some offers that include increased cover over the festive period at no extra cost, as well as Christmas discounts on contents insurance policies. Amongst the companies offering special deals on contents insurance cover over the Christmas and New Year period are American Express and Tesco.

However, Insurancewide experts have advised consumers to ensure that they look carefully at any policy before making a firm commitment, no matter how tempting the short term special offer may be. A spokesperson for the company stated that those looking to purchase contents insurance need to make sure that the policy they go for continues to benefit them after the festive period is over, making it suitable for the long term rather than just on a short term basis. This means reading the small print on policies as well as comparing the different policies and deals on offer.

James Harrison, chief executive of Insurancewide, stated: “It’s great that insurers are remaining competitive and offering their customers a chance to save money. But we urge people to pay close attention to the increase in the sum insured, to compare like with like, watch out for unexpected policy exclusions and check other insurers’ offers according to their precise needs before being lured by advertising campaigns.”

Tags: contents, winter, american express, tesco, buildings, theft, Insurance, cover

UK Credit Card Consumers Should Be Watchful

The latest scam to defraud vulnerable credit cards holders in the UK has come to light in the Worcestershire area, where thieves pretending to be police officers or bank workers managed to steal credit cards with which they then took cash from consumers’ accounts. In the recent incidents the thieves managed to get away with thousands of pounds after obtaining the credit card PIN numbers fraudulently from consumers that thought that they were talking to professionals and officials.

According to police officials, the thieves had acted very convincingly, and had actually called consumers to tell them that they were in danger of being defrauded and that they were trying to stop this from happening. The thieves posed as officers and bank officials in order to convince the victim that they were acting in their best interest, and as a result obtained personal banking and financial details from consumers.

Officials have now warned that consumers need to ensure that they don’t give out any information of this sort over the phone. One officer stated: “Banks, building societies and the police will never ask for PIN numbers over the phone or even face-to-face.” He added: “They are a matter for the individual only. If someone does ask, no matter the circumstances, suspicions should be immediately aroused and the incident reported to police.”

Consumers have always had to remain vigilant for different types of credit card fraud, and this is one of a long line of different scams that have seen consumer conned out of thousand of pounds in the UK. Police have asked card holders to challenge anyone that they are suspicious of ‘firmly but politely’ in order to try and verity their identity. Officers have also issued local and national numbers for anyone to report suspicious activity of this sort.

Tags: cards, thief, theft, types, uk, fraud, credit, consumers, steal

Credit Card Insurance

Fear factor

These days we are inundated with stories about identity theft, muggings, credit card theft and the general dangers of losing our treasured credit cards.

The dangers of modern living with its job insecurity, illness, theft and all those other things we dread are quite enough to make anybody want to turn to insurance for their own peace of mind. But are Credit Card Protection Plans the answer?

A Sign of the Times

When you start to use a credit card you will get an offer from the lending company to provide you with Credit Card Insurance. Primarily this is to safeguard the money that the institution has lent you. If you lose your job and go belly up with thousands owing on your card and no way to pay it back, they will want a way to ensure their money is safe. It’s also a way for them to make some extra money off you!

There are two main dangers for credit card users:

• loss or theft of the cards themselves
• loss of income

Live dangerously

There are those that regard the risks associated with the debts on a credit card as being tolerable. If you are one of those people who always knows where their credit cards are and has never lost anything ever, then you may feel the same way. You may also count yourself lucky!

Too much

Sometimes people feel insurance is an unnecessary cost because the package being promoted by the credit card company isn’t offering what the cardholder actually wants. It may not be the best value for money or it may be that it provides too much cover. If this is the case there are a number of off-the-shelf alternatives.

Safeguard against risks

Usually a Card Protection Plan (CPP) will provide some insurance against fraudulent use of your card or use of your card without authorisation. They will also include a facility for an emergency cash advance for ticket replacement and hotel bills (in case you suffer lose or theft while staying away) and may provide some cover for any cash that was stolen at the same time as your card.

But there are alternatives to CPPs.

And the family came too

Sentinel Card Protection is one of the most well known insurers specialising in credit cards. For a one-off annual fee they will protect all your credit cards with the same cover. That includes notifying all card companies involved in a theft of your cards and arranging for replacements to be issued. They provide up to £75,000 worth of cover against fraudulent use if they are notified within 24 hours of the loss or theft. They also provide an interest free loan for up to £3,000 to get you out of trouble if you are stranded abroad.

The key thing about Sentinel is that it will cover all your cards and all those of other members of the household with the same one off payment. It offers a three year one off payment option which is even better value at just £50.00.

Their service includes handy items such as a luggage tag retrieval service, so no matter where your luggage may end up Sentinel will help you get it back with their security coded unique reference number system.

They do not however, cover redundancy or your inability to make payments due to long term illness. For this type of cover you would need Payment Protection Insurance or PPI.

Holistic care for your Credit cards

This approach is to insure your payments so that you can continue paying if you get sick or suffer an accident which leaves you unable to work. A plan such as Paymentcare would be issued by a Financial Services Company and could be arranged either directly with the insurer through the internet, or through your broker or Financial Advisor.

This type of insurance will specify how high the maximum balance can be to be eligible for cover, and how long the policy will pay the credit card payments or whether it pays off the full sum in one go.

All these details would be raised as you discuss the plan with your broker or fill in the application form. In this way you can be sure to get an insurance policy that exactly suits what you are looking for. The premiums are usually payable as monthly direct debits and the amount would reflect the type of cover you chose.

Better to be safe than sorry

Whether you decide to insure yourself against the risk of being unable to repay the outstanding balance on your credit cards will really come down to your general outlook on life and your whole attitude to risk… and whether you think the world is really as unsafe as we are all led to believe.

Tags: Credit card users, theft, job insecurity, ticket replacement, unnecessary cost