Read the small print to save money says OFT

Tuesday, 24 June 2014 00:00

Island residents are 'double-insuring' and not reading the small print.

The Office of Fair Trading says money is being wasted by people who don't realise they are already insured by their bank when they pay for a service.

Many aren't taking notice of paid extras - including perks like travel insurance - on their current accounts.

Chief officer Mike Ball says people should pay attention as their second policy may be a duplicate of what they're already paying for:

More from Isle of Man News

Manx resident caught-up in Georgian protests

An Island resident caught up in protests in Georgia says he's been questioned by police - who couldn't understand his Manx identification.
Hebridean Sky cruise ship arrives today

The west of the Island is getting its first visit of the year from a cruise ship today.
Number of children who committed crimes after police intervention not known, says MHK

The Island's Justice Minister says she doesn't know how many children have committed offences after interventions from the police early action team.
Biker seriously injured after van pulled out, Court hears

A court's heard a biker was left seriously injured after a van pulled out as she overtook it during TT.
Tynwald Day and rehearsal road closures announced

Road closures for the Island's National Day - and a rehearsal of the event - have been released.
Want to work at the Wildlife Park?

Would you like to look after small animals at the Wildlife Park?
Manx gov pays UK around £3.3m a year

The government says it's paying the UK around £3.3 million a year - but it's not sure what it's getting for its money.
Treasury Minister says Island's immigration service is 'busier than ever'

Treasury Minister Alex Allinson says the Island's immigration service is busier than ever - and the increased demand looks to be permanent.