So, you’ve got insurance with us and have your policy documents – now what?
We're here to help you get to know your policy!
Why it’s important to read your policy book
We know there’s a whole bunch of other fun things you’d rather do – but reading your policy book really is a good idea.
It’ll help you to understand your insurance, what you’re covered for and what to do if you need to make a claim.
Before you get down to the nitty gritty of your insurance policy, here’s some tips to help you understand it.
From what each document means to learning the insurance lingo and everything in between, we’ve got you covered.
What’s an insurance policy?
An insurance policy is a contract between you (the policyholder) and your insurer. This is who you’ve got insurance with.
The type of insurance policy you get will depend on what you need to insure. We cover:
An insurance policy is there to financially protect you if something goes wrong. For example:
if your home is damaged in a storm
- your luggage gets stolen
- your pet gets ill
- you’re involved in a car accident
Insurance is there to help cover the costs for the unexpected. What you’re covered for will depend on your policy, including any exclusions or limits.
You pay a set amount either monthly or annually to your insurer, and they might be able to cover you if you need to make a claim. This depends on what you’re covered for.
What’s an insurance policy book?
Your policy book is a bit of a beast! It has everything you need to know about your policy with us, including:
- what is and isn’t covered
- what your responsibilities are as a policyholder
- what our responsibilities are as an insurer
- how to make a claim
- a glossary of what some of the insurance terms mean
Got a question? You should be able to find the answer in your policy book!
What’s an insurance policy number?
This is your unique code we use to keep track of your insurance policy.
You’ll find your insurance policy number at the top of your certificate, policy documents, and any letters or emails we send you about your policy.
What’s an IPID in insurance?
Insurance Product Information Document isn’t as catchy as an IPID – but yes, your IPID is an overview of your insurance product.
It helps you to understand what you are and aren’t covered for, and your cover limits, so you know exactly how much you’re covered for.
Plus, it gives you a chance to review the type of insurance you’re interested in to make sure you’re happy with the level of cover.
What’s an insurance certificate?
Your insurance certificate is basically proof of your cover.
It's a summary of your insurance and includes details like:
- your policy number
- the name of the policyholder
- what you’re covered for
What’s an insurance schedule?
Unlike your certificate, your insurance schedule goes into more detail about your policy. It includes things like:
- your name and address
- policy number
- what's covered
- the type of cover you have and your cover limits
- optional add-ons you’ve added to your policy
What are claim limits?
A claim limit is the maximum amount an insurer will pay you if you make a claim.
It’s different depending on what you’re claiming for, and what level of cover you have. For example, you can claim up to £5,000 if your trip is cancelled on our Platinum Travel Insurance. But you can only claim up to £1,500 if you have our Admiral Travel Insurance.
Different limits and exclusions apply, depending on your policy. So, it’s worth checking what you are and aren’t covered for.
What’s a policy term?
A policy term is the length of time you’re insured for. This depends on your policy. For example, a car policy might insure you for a year, whereas a travel policy could cover you for seven days.
This means that if something happens, you can only make a claim for it if it happens during the time you’re covered.
Once your insurance runs out, you can choose to renew your policy for another year if you’d like.
What’s a statement of fact?
This is a summary of the information you gave the insurer when you got a quote for your insurance.
It includes when your policy starts, how long you’re covered for, and how much it costs. It’s important to make sure all the information is right because it can be used as evidence of your cover if you need to make a claim.
Insurance policy fees explained
Premiums, admin fees, interest – what do they all mean? Get to grips with the costs of your insurance.
- Premium – this is the cost of your insurance.
- Admin fees – these are charges to recover the costs for cancelling or making changes to your policy.
- Interest on monthly payments – you’ll be charged interest if you pay monthly for your policy.
- Insurance Premium Tax – this is a legal tax that’s set by the government and added to your insurance.
How to review your policy
Ready to take on your policy book? Now that you have the knowledge, here’s what you need to look out for.
What to check
- Your personal details – your own details and what you’re insuring.
- Your cover – what you are and aren’t covered for, plus any limits and optional extras you’ve added to your policy.
- Your policy term – how long you’re insured for, when your cover starts and when it ends.
- Your excess – check to see what your total excess is if you make a claim.
- Review the claims process – find out what you need to do if you need to claim on your policy.
- Look out for admin fees – you might be charged if you need to make a change to your policy.
- Check your renewal – your policy might be set to automatically renew, so check to see if you’re happy with that.
Questions to ask your insurer
Here are a few things you can ask your insurer if you’re not sure about your policy:
- What’s covered in my policy?
- Are there any limits to how much I can make a claim for?
- Are there any add-ons I can add to my policy that suit me?
- Will the cost of my insurance go up?
- Are there any discounts available?
What to do if you don’t understand something
We know that your policy book isn’t the easiest thing to understand. That’s why we’re on hand to help you with any questions you have.
If you’re insured with us and not sure about something in your policy book, reach out to us and let us know. We’ll chat through your policy book with you.
The quickest way to get in touch is in MyAccount or to message us.
How to make a claim
If you’re insured with us, the easiest way to make a claim is in MyAccount. All you need to do is:
- log in to MyAccount
- give us your details
- tell us what’s happened
- share any evidence with us make your claim
If you have a pet or travel policy with us, you’ll need to log in to the travel portal or message us on our website.
We’ll review your claim and be in touch as soon as possible to go through the next steps.
You can also call us to make a claim. To make sure you speak to the right team, head to our Contact us page and click on the type of insurance you have with us.
Understanding insurance jargon
The last step to understanding your policy is to learn the lingo.
We always try to explain ourselves clearly and break down anything that might be confusing. But there are some terms that are standard across the industry.
To help you understand some of the terms we use, head to our insurance glossary. You’ll be fluent in insurance in no time!
