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Never-ending insurance price rises – switch or suffer

What’s the deal with car insurance? Premiums have rocketed, meaning more of us are paying through the nose to sit in traffic jams. And how about soaring home insurance premiums? Are insurers serious?

Unfortunately, it seems that they are, and we’re the ones paying the price. Insurers maintain that it’s not their fault premiums have risen so much. They point to the flat stock market, which has traditionally been where they dump our premiums in the hope of making a healthy profit.

They blame the rise of personal injury claims, which is a bit rich given they were as guilty as anyone of passing on customer details to ambulance chasers. Thankfully this is one practice that has been banned, although I’m not holding my breath in the hope that it will result in premiums falling.

I’m sure the industry will find other ways to squeeze a little more cash out of us – so watch what you’re covered for next time you buy insurance. I bet some current standard policy elements will have vanished, while your excesses will rise.

And then there are the sob stories about the impact of flooding and of course the fall-out from last winter’s Arctic freeze. All in all it seems like insurers want us to feel for them, when we’re the ones on the receiving end.

What next from insurers?

The way things are going, it’s possible that more people will forego good quality home or car insurance in favour of snaffling the cheapest deal on the market. This is understandable, but it could be a false economy if it leaves you with a policy that’s so weighed down with exclusions that you can hardly claim on it.

Sure, any cover is better than no cover at all – an argument you can’t counter if your mortgage provider insists on you having buildings insurance or you’re a driver (car insurance being a legal requirement). But it doesn’t inspire confidence in the system.

If insurers don’t get their act together, and by this I mean ensure that they can offer people affordable, quality cover, then we really are in a mess.

Switch your insurance

Alas, until insurers are driven to get more competitive, the cost of insurance will probably continue to rise.

To me, the only way to prompt insurers to lower premiums is for their customers to make a big noise, by rejecting renewal quotes and voting with their feet. The question is, will you join us – will you switch?


What bothers me how they are concerned about fraud against them .However the fraud they commit against us is ignored has no one to asist as even Ombudsman with same dodgey set up colludes.There is noone in charge of personell behaviour . When I tried to take it up with my bank that they had sold car insurance with out informing or protecting leaving underwriters to manufacture untruths . nothing was done except triple the next quote They also when gave out next quote after instead of putting up by percentage the extras put full amount on again then refused to address with Police, Ombudsman & Trading standards colluding ..