Tips to Stay Safe
Follow these simple steps to recognise the signs of illegal insurance firms more commonly known as Ghost Brokers and protect yourself from falling victim to it.
Recognise the warning signs:
- The price is significantly lower than any other quotes you've seen.
- The seller only communicates via social media or messaging apps (like WhatsApp or Snapchat).
- The advertisement looks unprofessional and contains spelling errors.
- The seller is vague about how they’re offering such a low price.
- The seller lacks a legitimate website, UK landline number, or physical address.
- The seller asks for an upfront payment for insurance, even though insurance prices should be based on the individual's risk.
Conduct your checks:
- If you’re using a broker and they are a BIBA member or display the BIBA logo, you can verify this through the official BIBA website. If you're buying directly from an insurer, make sure they’re a member of the Motor Insurers' Bureau (MIB).
- Whether a broker or an insurer, ensure they’re registered with the Financial Conduct Authority (FCA). If they aren’t, it's best to avoid them.
Reporting Fraud:
If you suspect Ghost Broking, please contact us as soon as possible by calling us on 02891 817 375.
About the author
Hughes