Blog – David McCarthy, Galway Talks, 08.08.13

but-galway-bayfmIssue:   A recent survey shows a fall in house insurance premiums.

Comment: A recent survey has confirmed that house insurance premiums have fallen.  This comes on the back of two bad winters, where insurers increased premiums as a result of their claims experience.  The message is not to just accept the premium on your renewal notice but to shop around and see if you can get cheaper cover elsewhere.

In addition insurers will offer you a range of discounts which can reduce your premium.  It is important to avail of these and one particular discount, that a considerable number of people avail of is, for having an alarm in your house.  However, getting the alarm discount comes with an obligation, namely the terms of the policy insists that you should have your alarm turned on at all times both at night and when the house is vacant.  Failure to adhere to this condition could invalidate a claim. 

Issue:  Beware of suspicious phone calls – identity fraud on the increase.

Comment: Fraudsters have become increasingly sophisticated. A number of instances I have heard of recently, relate to verification of transactions by credit card companies with the cardholder.  What happens is the cardholder receives a phone call from, what appears to be their credit card company, and are asked to verify certain details.  The problem here is that the call may be from a fraudulent source who uses this information.

A simple way of dealing with this if you receive such a call, is not to engage with the caller but source the phone number of your credit card company from the back of your card and ring them back to see if the call you received is legitimate.