Switching Insurance Policies

Changing your policy or provider needs to be carefully worked through. You may gain some benefits (such as a reduced premium) but you need to make sure you won’t also lose some benefits. For example, you could have a claim denied that might have been accepted under your original policy. To avoid getting caught out, keep your old policy running until the new policy is in force. If your adviser (us or anyone else) is suggesting you switch to a new policy, make sure you understand what the benefits are for you. Check out the five tips below from the FMA: