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Will We See A Reduction In Insurance Premiums Next Year?
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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?
Will we see a corresponding decrease in our Insurance premiums next year or will they hike up as per normal?
Answers
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//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.
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.
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