Wednesday, June 28, 2006

Beware of Free Gifts!

Many financial organisations are offering refer a friend scheme to get new customers. Typically this involves a £20 from Marks & Spencer.

However products are not always very competitive

Eg Priveledge Insurance offer vaious inducements such as the chance to win a butler for the day, a pair tickets for Premiership or Scottish Premier League match or £500 to spend with a personal shopper.

The Telegraph quotes the folowing example

  • Cover for a 56-year-old female driver with five years' no
  • claims bonus
  • Living in south east London.
  • Driving a Ford Ka
Budget insurance are £50 cheaper, with a premium of £157.50
Privilege's £206.85.
With 12 Insurers offering lower rates than Priveledge