Brits should be 'truthful and read small print' on insurance forms

Posted : 25-01-2008

Honesty and attention to detail are recommended for consumers taking out an insurance product, an expert has said.

Mark Jones, protection products and actuarial manager at life insurance provider Friends Provident, urged people to read the small print when filling out insurance forms but welcomed research by the company which also suggested that the vast majority of Britons are honest in the details they provide.

In a survey by the fund management company, nine out of ten respondents said they have always told the truth when filling out insurance forms.

Just under half research the internet before choosing an insurance product and a further 20 per cent of Britons seek the opinion of a financial adviser, the study also found.

Welcoming the efforts of consumers to be truthful and attentive about their insurance purchases, Mr Jones said: "The insurance business is here to provide peace of mind and is not just about collecting premiums and paying valid claims."

With the summer floods last year resulting in £3 million worth of insurance claims, homeowners need to ensure that they are insured with the necessary level of cover, Steve Johnson, head of Sainsbury's Home Insurance, recently advised.

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