MIKE COADY

Financial Expert | Business Excellence | Growth Expert
Mike is an award-winning financial expert and a well-known leader in the financial industry.Having taken two of his previous firms to Chartered Status in the UK and also achieved the prestigious National IFA of the Year Award – Highly Commended.In addition, Mike is a well known Independent Financial Adviser and Money Coach. Qualified to UK Financial Conduct Authority (FCA) standards, a member of the Chartered Insurance Institute, a Founding Fellow of the Institute of Sales Professionals (FF.ISP), a Fellow of the Institute of Directors (FIoD) and featured as a highly qualified Financial Adviser in Which Financial Adviser.
Top

Posting on social media can destroy your claim on insurance

Mike CoadyBusiness Advice Posting on social media can destroy your claim on insurance
social media insurance

Posting on social media can destroy your claim on insurance

Insurers are making holidaymakers aware that if they post on social media announcing they are abroad it could invalidate their home insurance.

We are seeing insurance companies increasingly rejecting claims made by clients who have been burgled whilst away on holiday if they have published on social media that they are away from their homes and on holiday.

The Financial Ombudsman in the UK has issued warnings with regards to publishing on social media while on holiday, allowing potential burglars to find out that their homes are empty.

How is this done?

Insurance firms have a clause within the majority of contracts that requires clients to be “reasonably careful” with regard to keeping their property safe and secure.

Some insurers have declined claims on the basis of “breach of the policy” because clients have not taken precautions and have posted on social media channels that they are away.

This is applied to celebrities as well, as John Terry fell victim to a burglary a few years back after sharing on social media that he was away with family on a skiing holiday.

Do we believe there is a link or is it pure coincidence?

According to research – there’s a link, and a 5-pointer guide was issued by the financial ombudsman to avoid this from happening:

  • Make sure your profile is locked and private at all times
  • Unfriend anyone that is not a true or trusted person/friend/relative from your social media channels.
  • Switch off your location settings/services
  • Do a search on yourself to make sure no personal information has been revealed by anybody else
  • Remove any personal details from your personal pages, such as a house, number, etc.

It appears that criminals have used social media channels to track their victims’ movements and whereabouts.

Be careful what images you are posting, captions you are writing, and locations you check-in.

Instead of posting while away on your holidays, post when you are back and have the reassurance that your home is safe and secure, and that your home insurer is happy and still applicable.

Our insurance for expats service is here to provide you with mortgage, loan, whole of life, income protection advice and more. Speak to Mike Coady today to learn more.

Book A Discovery Meeting

If you need more financial insurance advice, then contact Mike Coady today. His expertise and knowledge are here to help you.

About Mike Coady

Mike Coady is an expert financial advisor Dubai and is on hand to help with all things around expat insurance.

Mike is an award-winning money coach and industry leader in the financial sector.

Qualified to UK Financial Conduct Authority (FCA) standards, a member of the Chartered Insurance Institute, a Founding Fellow of the Institute of Sales Professionals (FF.ISP), and a Fellow of the Institute of Directors (FIoD) and featured as a highly qualified Financial Adviser in Which Financial Adviser.

To learn how to choose a great financial adviser, download our free guide.

Blog published by Mike Coady.

Mike Coady
No Comments

Sorry, the comment form is closed at this time.