Why do insurance costs increase

Insurance costs

“Why has my premium increased?” is a question you’ll probably be hearing from your clients at renewal time. And it’s a fair question.

Many things affect insurance premiums including:

  • climatic changes

  • vehicles with higher specs

  • increased repair costs

  • A greater number of vehicles on the roads which leads to more collisions.

There are many factors that go into working out a policy premium. Unlike most other insurance companies, we’re very hands on with our renewals, each one being checked by a staff member before being sent to a client or broker.

When you make insurance personal you cut out a great deal of automation. In a busy world, automation has its place but we want to get it right first time, every time. So we personally assess each policy at inception and renewal anniversary to ensure that our customers get the best option for their needs.

When a policy comes up for renewal, knowledge is power, so ask us anything. You’ll find we ask you plenty of questions so that we can provide the best and most relevant insurance terms.

So when considering insurance for your clients, ask if there are any policy changes they desire? 

  • Has my vehicle’s market value changed?

  • Do I now live in my caravan or motorhome whilst my insurance covers me for recreational use only? Or have I stopped living in my RV?

  • Have I received any speeding tickets or Police convictions in the past year?

  • Have I moved to a different part of the country where premiums may differ?

  • Am I comfortable electing to have a higher excess in exchange for a lower premium?


With transparency you’ll get the best terms and claims will be easier.

So whilst it’s true that insurance premiums have increased across the board, we work hard to limit the impact on the premium. And as you can see, even small changes can impact your insurance costs.

We’re real people like you, so if you have any concerns or questions relating to new business of renewal terms provided please contact your Key Account Manager, or our office.



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