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Insurance Companys
 

Ah, now these are all a real bunch of crooks. Here is CB's analogy.........

    The bookmaker is usually viewed with little respect but, he will do honourable business with you. Say you stake £10 on a horse at odds of ten to one and it wins, he may not smile, he may not like it but he will pay you £110 (your winnings plus your stake returned) less any tax due.


    The insurance companys are not so honest. Say you buy contents insurance cover to the tune of £20,000 and the premium is £200. What is actually happening is you are betting that, over the next 12 months, you will have a burglary or a fire or some such event that will result in losses of your property. The insurance company is taking your bet and their premium is the stake money. In the event of you claiming, the insurance company will comb the fine print of their terms and conditions to find a way not to pay you. If your claim is valid, they may then say "ah, but you are under insured, you should have been covered for £40,000". They will then say that, as you are 50% under insured, they will only pay 50% of the claim amount. Always read the small print, however tedious this may be. When you do, you may come to realise how little you get for your bet. Now tell CB why the poor old bookie has the bad reputation when it is the insurance company that is the thief.


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