Insurers have actually been asked to explain to consumers why their premiums are increasing a lot faster than inflation. Car and home insurance coverage expenses have actually increased much more than the cost of products, upkeep, extra parts, repair work and the other products they cover, according to main federal government figures.
The Times has actually spoken with lots of individuals whose home, car and family pet insurance coverage premiums have actually skyrocketed, despite the fact that they have actually not made a claim or altered anything in their information.
Stephanie Lake, 27, was informed that the structures insurance coverage for the block where she owns a two-bedroom flat would increase £270 to £1,197, in spite of £5,000 of repair work to make the building fire resistant.
One couple from Hertfordshire said their home insurance coverage increased from £160 to