Will We See A Reduction In Insurance Premiums Next Year?

[youngmafbog]

With lock down there has been a drastic reduction in car theft and accident/incidents. Burglaries and robberies down too along with other such crimes.

Will we see a corresponding decrease in our Insurance premiums next year or will they hike up as per normal?

[zebo]

//The insurance companies really took a hit earlier this year with all the flooding, too. //
A few years ago, after the flooding in Cumbria I think, we got an increased renewal quote and when I queried it I was told that everyone's rates were being increased because of all the flood claims.
I challenged this because we were nowhere near a flooded area and asked if the increased rates applied to areas of higher crime risk, such as ours then, were being universally applied . No prizes for knowing the answer.

[tomus42]

Quick update which might be of interest..

https://www.bbc.co.uk/news/business-52367030