Compensation limits
Here you can find the FSCS compensation limits for each financial product we protect. The UK regulators, the Financial Conduct Authority and the Prudential Regulation Authority, set the financial compensation limits and compensation rules.
Banks, building societies & credit unions
If you hold money with a UK-authorised bank, building society or credit union that fails, we’ll automatically compensate you.
- up to £85,000 per eligible person, per bank, building society or credit union.
- up to £170,000 for joint accounts.
We protect certain qualifying temporary high balances up to £1 million for up to six months from when the amount was first deposited.
You don’t need to do anything – FSCS will compensate you automatically.
Debt management
If you hold money with a debt management firm that fails, we may be able to compensate you:
- up to £85,000 per eligible person, per firm.
You don’t need to do anything – FSCS will compensate you automatically.
- up to £50,000 per eligible person, per firm.
Mortgage & endowment advice
We may be able to compensate you for mortgage advice you received after 31 October 2004 and endowments you were mis-sold after 28 August 1988, if you’ve lost money as a result, and the advisor has since failed.
- up to £85,000 per eligible person, per firm.
- up to £50,000 per eligible person, per firm.
- 100% of the first £30,000 and 90% of the next £20,000 up to £48,000 per eligible person, per firm.
Insurance firms
If your insurer fails, how much compensation you could claim depends on the kind of insurance you have. We split insurance into two main categories: general insurance and long-term insurance.
General insurance
Examples of general insurance include:
- Accident/sickness/unemployment.
- Buildings/contents.
- Car and motor vehicle.
- Third-party liability, including employers’ and professional liability.
- Travel.
- Pet.
If your UK-authorised insurer fails we may be able to compensate you:
- 100% for compulsory insurance claims (e.g. third-party motor and employers' liability), professional indemnity insurance (e.g. solicitors PI), and/or claims arising from the death or incapacity of the policyholder due to injury, sickness or infirmity.
- 90% for non-compulsory insurance claims (e.g. pet) with no upper limit.
Note that no protection is available for goods in transit, marine, aviation and credit insurance. Contracts of reinsurance are also not protected.
The claim process can vary depending on the failed insurance firm and claim type. For further details on how to claim, you’ll need to contact your broker or refer to the failed insurance firm’s website.
- 100% protected for compulsory insurance claims (e.g. third-party motor and employers' liability).
- 90% protected for non-compulsory insurance claims (e.g. pet).
Note that no protection is available for goods in transit, marine, aviation and credit insurance. Contracts of reinsurance are also not protected.
The claim process can vary depending on the failed insurance firm and claim type. For further details on how to claim, you’ll need to contact your broker or refer to the failed insurance firm’s website.
- 100% protected for compulsory insurance claims (e.g. third-party and employers' liability).
- 100% of the first £2,000 plus 90% of the remainder with no upper limit for non-compulsory insurance claims (e.g. pet).
Note that no protection is available for goods in transit, marine, aviation and credit insurance. Contracts of reinsurance are also not protected.
The claim process can vary depending on the failed insurance firm and claim type. For further details on how to claim, you’ll need to contact your broker or refer to the failed insurance firm’s website.
- 100% protected for compulsory insurance claims (e.g. third-party motor and employers' liability).
- 90% protected for non-compulsory insurance claims (e.g. pet).
Note that no protection is available for goods in transit, marine, aviation and credit insurance. Contracts of reinsurance are also not protected.
The claim process can vary depending on the failed insurance firm and claim type. For further details on how to claim, you’ll need to contact your broker or refer to the failed insurance firm’s website.
Long-term insurance
Examples of long-term insurance include:
- Life insurance.
- Permanent health/incapacity insurance.
- 100% protected with no upper limit.
The claim process can vary depending on the failed insurance firm and claim type. For further details on how to claim, you’ll need to contact your broker or refer to the failed insurance firm’s website.
- 90% of the claim with no upper limit.
The claim process can vary depending on the failed insurance firm and claim type. For further details on how to claim, you’ll need to contact your broker or refer to the failed insurance firm’s website.
- 100% of the first £2,000 plus 90% of the remainder.
The claim process can vary depending on the failed insurance firm and claim type. For further details on how to claim, you’ll need to contact your broker or refer to the failed insurance firm’s website.
Insurance brokers
We may be able to compensate you if your insurance broker (e.g. if a broker mis-sold you insurance) fails.
- 90% of the total claim.
- 100% of the first £2,000 per eligible person, per firm, then 90% of the remainder.
Long-term insurance
Examples of long-term insurance include:
- Life insurance.
- Permanent health/incapacity insurance.
- 100% protected with no upper limit.
The claim process can vary depending on the failed insurance firm and claim type. For further details on how to claim, you’ll need to contact your broker or refer to the failed insurance firm’s website.
Investments
We may be able to compensate you if you've a protected claim against a firm that has failed.
- up to £85,000 per eligible person, per firm.
- up to £50,000 per eligible person, per firm.
- 100% of the first £30,000 and 90% of the next £20,000 up to £48,000 per eligible person, per firm.
Payment protection insurance
You could claim compensation if you bought a PPI policy and the information you were given was misleading or insufficient, and that firm has since failed.
- 90% of the total claim.
You would claim against the firm that advised you to take out the policy, not the firm you had the policy with.
- 100% of the first £2,000, per eligible person per firm, then 90% of the remainder.
Pensions
If your pension provider fails
- 100% of your claim, with no upper limit.
If your SIPP operator fails
- up to £85,000 per eligible person, per firm.
Bad pension advice
If you’ve received bad advice in relation to your pension, you could be eligible to claim compensation.
- up to £85,000 per eligible person, per firm.
If your pension provider fails
- 100% of your claim, with no upper limit.
If your SIPP operator fails
- up to £50,000 per eligible person, per firm.
Bad pension advice
If you’ve received bad advice in relation to your pension, you could be eligible to claim compensation.
- up to £50,000 per eligible person, per firm.
If your pension provider fails
- 90% of your claim, with no upper limit.
If your SIPP operator fails
- up to £50,000 per eligible person, per firm.
Bad pension advice
If you’ve received bad advice in relation to your pension, you could be eligible to claim compensation.
- up to £50,000 per eligible person, per firm.
Read our eligibility rules for information about which types of claim are eligible for compensation.
Your legal rights and FSCS compensation
If you have a successful claim, FSCS will pay compensation up to the limit that applies. When you accept this payment, you transfer your legal rights against the firm and any other relevant party to FSCS. We explain this as part of the application process. This means you can no longer claim against the firm or any other relevant party. FSCS will pursue recoveries against them. Depending on the circumstances of your case, if we make any recoveries we may be able to pay some of these recoveries to you. FSCS makes recoveries for the benefit of its levypayers or compensated claimants. But if your claim is rejected, or until you accept our compensation, you are free to pursue the firm or any third party yourself - FSCS will not do so on your behalf.