Money Central - Times Online - WBLG

The 25 most outrageous insurance policy exclusions ever

Insurance policies are designed by lawyers with one thing in mind - to boost the odds in favour of the insurance company so you stand as little chance as possible of having your claim paid.

The lawyers do this by hiding "get-out" clauses, otherwise called policy exclusions, in the small print of the insurance contract. Sometimes, insurers will take pity and pay a claim, despite being legally entitled to deny it. However, this is not always the case. Reading the small print of your policy or enlisting the services of an insurance broker when buying a policy is the only way to stay a step ahead of the lawyers.

Here, Times Money has compiled 25 of the more outrageous insurance exclusions to watch out for.

The 25 Most Bizarre Travel Insurance Claims Ever

What links a tourist who lost 84 kilograms of Bombay mix on holiday with another who had his camera stolen by a monkey? Both are among the more unusual claims received by travel insurance companies. Times Money has trawled through the files of some of the UK’s biggest insurers to bring you the 25 most bizarre travel insurance claims ever.

Top ten professions most likely to cause a car crash

If you are a lifeguard or surgeon - look out, your car insurance could be about to get more expensive, because according to a new survey, these are the professionals most likely to cause a crash. Astrologers and, surprise surprise, driving instructors, are among those least likely to cause accidents, the research by moneysupermarket.com found.  Richard Mason, of moneysupermarket.com, said: "If there is any logic to it, astrologers, watchmakers and chimney sweeps should be paying a lot less than systems analysts, insurance inspectors and statisticians." Find out if you are in the list of best and worst drivers below.

Banks still getting fat on PPI...

You might remember a few months back that a number of lenders were accused of running a “protection racket” by the consumer watchdog Citizens Advice. It made an official “super complaint” to the Office of Fair Trading about the way lenders were selling, or mis-selling, payment protection insurance (PPI), the cover tacked on to loans.

A cure for sick insurance

Insurers have been stung by accusations that they are too quick to weasel out of paying insurance claims - and appear to be taking small steps to make amends.

Has your insurer let you down

“Heartless” – a word that sums up how one family whose story we cover on Sunday describes their insurer.

Banks braced for billions in claims

Banks are braced for a surge in the number of complaints about useless debt insurance.

Ten tips for cheaper car insurance

In the unlikely event that any Times Money readers are tempted to upgrade their car – or in the parlance of the street, "pimp their ride" – they might like to think again after research indicates that modifications such as adding a rear spoiler or lowering the suspension could add up to 171 per cent to car insurance.

Have you been ripped off by debt insurance?

It seems that one of the biggest rip offs in the financial services industry is finally about to be resolved. Four firms, including one high-street name, are set to be fined by the City watchdog within days for mis-selling debt insurance.

Norwich Union windfalls - who deserves the cash?

A fight is brewing between Norwich Union, Britain’s biggest insurer, and hundreds of thousands of its customers over how it will share out £4bn of surplus assets in its with-profits funds. And we want to know where you stand?

Has your insurer denied your claim?

Insurance is supposed to provide peace of mind - a much needed financial payout at time of distress, be that a death in the family or the diagnosis of a serious illness.

PPI - have you been caught out?

The Financial Services Authority last week fined internet lender Loans.co.uk £455,000 for mis-selling payment protection insurance (PPI).

Water, water everywhere

I have never been flooded out of my home.  I have never had to place sandbags against my door and huddle upstairs as floodwater lapped against my lovingly painted living room walls. I have never had to steer a dinghy down the main road. The person living in the flat above mine once overfilled the bathtub, but the water streaming down my walls only caused a puddle. 

Despite this, I was filled with alarm when I saw Prudential's warning that millions of home could be flooded this winter as storms co-incide with high tides - and for very good reason.

Is boiler cover worth it?

My boiler probably qualifies as an antique, it is so old. So when we moved into our house in July I thought it would be worth getting insurance to cover the boiler and central heating. But I've since changed my mind.

Older travellers pay too much for cover

Thousands of older people are risking travelling the world without insurance because insurers load their policies with such high premiums that buying cover would push the cost of their trip out of reach, research shows. However, with new rules coming in to combat age discrimination in the workplace on October 1, companies are coming under growing pressure to drop their prices - and not a moment too soon.

Holiday insurance probe

The government has announced that it is launching an investigation into the sale of holiday insurance by travel agents. What has taken it so long.

Don’t forget Father’s Day

For anybody who doesn’t already know, it’s Father’s Day this Sunday. (It is always the third Sunday in June). If you think a day for dads is little more than a commercial wheeze, propagated by the greetings card industry to make everyone buy vastly overpriced bits of paper you are probably right. But research by Friends Provident suggest that fathers deserve some small token of appreciation because they do about £13,000 worth of unpaid jobs for their families each year.

Is your insurance a waste of money?

A few years ago, the Financial Services Authority, the City watchdog, came up with a "radical" initiative for its member companies called Treating Customers Fairly.

I said no thank you!

Commission must be high for Egg's insurance salespeople. I have had my Egg card for approximately three months. For each of these months, I have received an unsolicited phone call from one of Egg's telesales staff almost begging me to take out payment protection insurance. They won't take no for an answer. Or at least, not until I have said it five times. The last one left me exasperated,  but I'm not giving in...

Driving's not cheap but there are ways to save

It has been a bad week for the beleaguered motorist. The recent surge in the cost of oil has sent the average price of petrol rocketing to 94.9p a litre with many experts warning drivers to expect prices above £1 a litre in the coming weeks.

It was also revealed that a single speed camera in road works on the M62 in Manchester netted a staggering £1 million in fines in just 18 months -- that is almost £2,000 a day.

Critical definitions

An insurance policy document is hardly a good bedtime read - they are long, confusing and dull. Critical illness policies, which are designed to pay out a lump sum if you die or develop a permanent illness, generally win the prize for being the most confusing, because they contain so many exclusions and conditions. But the insurance industry is at least attempting to make them clearer, even if it cannot make them more interesting. The Association of British Insurers (ABI) has given critical illness insurance companies 12 months to shape up their policies.

How older travellers can cut insurance costs

Since 1993, the number of over-65s taking overseas holidays each year has leapt by 110 per cent, while the number of international travellers aged between 55 and 64 has jumped 140 per cent.

Driven to distraction

Have we suddenly become a nation of budding Michael Schumachers? That is one conclusion to draw from a survey released today showing that almost one in five motorists now have penalty points for speeding. The alternative conclusion, of course, is that the proliferation of speed cameras over the last few years has ruthlessly penalised the driving public.   

Internet bugbears

You'll be pleased to know that as a financial journalist I do practice what I preach and when it comes to insurance I always check to see that I am getting a competitive deal. But I hate doing it because it is so time consuming and I always lose my temper with the internet when comparing prices.

This month it's my car insurance that needs renewing. The renewal quote from my insurer, Zurich, seemed quite competitive but I thought I would doublecheck. Also, I want to change insurers because I had a bad claims experience last summer. It wasn't Zurich's fault - the people I spoke to there about my claim were very helpful. I wasn't happy with the customer service I received from the garage that did the repairs. And seeing as though it is the nearest Zurich-affiliated repair centre to where I live, I would have to deal with them again in the unfortunate event of having to make another claim.

Piste of the action

I am not normally a fan of insurance because the industry often dupes us into taking out more than we need. Many people double up on protection insurance, for example, even though they might be eligible for sick pay from their employer if they fall ill. But I am always willing to fork out for one type of insurance: winter sports cover

Have you ever had a calamitous Christmas?

If you have ever accidentally set fire to your eyebrows when lighting your Christmas pudding, don’t worry – you are not alone

For richer, for poorer

Are you the type of person who thinks insurance is a waste of money, or do you buy cover for everything, just in case?

Protection racket put under the microscope

Regular readers of Times Money will know what we think of payment protection insurance (PPI). This cover is sold to protect the borrower in the event of ill-health or redundancy, but it is much better at increasing the fat profit margins of the banks. Now PPI will fall under the microscope of the Office of Fair Trading, which is conducting a “market study” of the sector

Esure launches first-ever pest insurance

More than 15 million adults living in Britain "admit to having a pest problem", according to esure, the internet insurer, which is this week launching a policy that covers the cost of removing common pests such as grey squirrels and rats from the home

Shred ID theft insurance

Think hard before you sign up to identity theft insurance - which offers protection against the growing threat of thieves impersonating you to take out loans and credit cards.

Another insurance scam

It is rare to see the normally monolithic financial services industry breaking ranks – no one likes to rock the boat, after all – so I was intrigued to see a press release today using the provocative phrase "blatant profiteering" about some of our most venerable institutions, the insurance sector

Halloween horrors are overtaking bonfire fears

At this time of year press releases from insurers warning against the dangers we all face on bonfire are as guaranteed as autumn leaves (not that there have been many of those with the recent warm weather). However, to that flurry of self-serving promotions is now added a new scare:  Halloween.

Down the pan

Last week Clerical Medical reveled that the average smoker spends almost £100,000 on cigarettes in a lifetime. Not to be out done, this week Moneynet reveals that heavy drinking can also prove very expensive. And not just because beer now costs more than £2 a pint.

The true cost of car insurance

If you are one of the millions of motorists who opt to pay their car insurance premium by monthly direct debit are you aware of how much you are being charged for the privilege?

Ditch your mobile phone cover

Every time you upgrade your mobile or buy a new phone a commission-hungry salesperson will be on hand to tell you how much you need insurance. If your phone is lost or stolen you will face a big bill for a replacement, so they claim. Frankly, you'd be mad not to take out cover - wouldn't you?

Where did I put my keys again?

A couple of enterprising chaps from London have come up with an idea that they claim will be the salvation of the disorganised and forgetful- which is most of us if we are honest.