It Helps to Scrutinise the small print, Here’s Why

Not reading the small print is a very common issue which often boils down to how to set aside time.

16:24 06 October 2015

Here are a few tips on why you should carefully read through the small print.

 

Cards

 

Credit Cards- Scrutinise the details on the paperwork that comes with all your credit  cards. Some may offer an extra period of warranty after the original warranty expires on electronics and other goods purchased with it.

 

Special Cards- Scour a ticket or membership card to find out what additional benefits are offered. Often, these might be special deals or discounts in a few retail stores or entry to hotels or cafes and other venues. 

 

Car and Property

 

Property- If you are moving out, or a property is to be left unoccupied for a certain amount of time, it’s worth checking out occupancy conditions. It is more likely that diminished cover would step in after a while.

 

Car- Car insurance companies are often curious about working out premiums and will certainly hold policyholders to anything they’ve actually committed to. They’ll want to know if there is any significant change in the total number of miles driver of a car has been adapted. There could be a special responsibility about where the vehicle is kept, as well. Maybe your favourite auto should always be locked in a garage overnight.

 

Work and Income

 

Work- An occupation that involves working with the rich and the filthy- for instance, the policyholder might be working as a security of celebrities- may need to be stated, as could unemployment etc.

 

Income- Income protection covers have always needed scrutiny. Read between the lines and figure out the deductions before an income figure is computed. Most importantly, figure out whether the policy states that the insured has only to be indisposed to carry out his “own” job before benefits become available or if it could be “any” occupation. 

General

 

Sometimes the small print can reveal less pleasant surprises that can actually negate insurance. This could be a requirement for a particular kind of lock on windows and/or doors, and, maybe a burglar alarm. Feel free to consult with the insurer about such stipulations and issues that you are unclear about. See if there is anything that can be removed from a cover policy which you are currently paying for but have no need of. 

 

Knowledge is power.