Disclaimer: Our website and publications aim to give you general information to help you make financial decisions. It is not advice, nor can it take account of your own particular circumstances. For advice with a view to making decisions about your own circumstances you should consult a financial or other professional adviser.

© The Financial Services Authority.

Getting help

Generally, firms selling insurance and those providing insurance cover (underwriting the risk) have to be regulated by us, or be the agent of a regulated firm. There are some exceptions, for example travel agents that sell travel insurance do not usually need to be regulated by us (but will be from 1 January 2009).

Regulated firms and their agents are put on our Register and have to meet certain standards. Always make sure that the firm you use is on our Register before handing over your money. If they aren't regulated by us and things go wrong, you won't have access to complaints and compensation procedures. To find out if a firm is on our Register, see Check our Register. For more information on complaints, see Making a complaint.

Your friends or family may recommend an insurance broker or insurance company or you can find one along your high street. Alternatively there are organisations that can help you – see Useful links. But remember, always check that the firm you use is on our Register – see Check our Register.

Buying without advice

You don't have to get advice before you take out an insurance policy, and UK firms that sell insurance without advice still have to follow our rules. But it is up to you to decide whether the policy is suitable for you. You may have less grounds for complaint if the product turns out to be unsuitable.

Comparison websites

Comparison websites will ask you several questions and then provide you with quotes from various brokers and insurers. None of the websites cover the entire market, and some larger insurers are not represented on any of the websites, so you may wish to contact them directly. The comparison website should contain a list of the brokers and insurers represented on its panels.

Some insurance comparison websites may ask you fewer questions in order to speed up the process, and instead they will make a number of assumptions about you. Always make sure that you check the assumptions made about you and correct them where necessary.

Most comparison websites will automatically pass your information on to a broker or insurer. Whilst this saves you the task of providing your details again, you should check that the correct information has been provided to the broker or insurer. If any information is incorrect you should either change the information on the broker or insurer's website, or contact the broker or insurer and ask them to change it.

What information will you get?

When you contact an insurance broker they will give you:

  • details of the service they are offering you – see Step 1; and
  • information about the insurance policy being offered to you – see Step 2.

Getting the Keyfacts

Step 1

When you contact an insurance provider, they will give you details of the service they offer. It may be in a Keyfacts logo about our service document, but doesn't have to be. They will tell you:

  • whether they're offering you advice or just information about the product;
  • whose insurance policies they offer – it may be from one company or many; and
  • how much you'll have to pay for the service.

Use this document, or information to shop around to get the service you want at the price you're happy with.

Step 2

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. Ask questions if you don't understand anything as misunderstandings could lead to the insurance company refusing to pay out when you claim.

The policy information will set out:

  • what the insurance policy actually covers;
  • what it doesn't cover;
  • any limits or restrictions; and
  • other important features you need to know before you make up your mind.

Make sure you get this and that you read and understand it. Ask the provider or insurance company to explain anything you don't understand.

Use this document to shop around and compare like with like. Another policy may be cheaper but does it offer the same cover?

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Top tips

  1. Check that the firm is on our Register.
  2. Use the policy information to compare other policies
  3. Answer the questions as best you can – it will help avoid misunderstandings.
  4. Ask questions if something is not clear.