Magazine
Latest Issue

How a clampdown on insurers could make them a better investment prospect

New regulation could have the most counterintuitive of consequences

By Andy Davis   July 2021

Rosemary Roberts / Alamy Stock Photo

This year, for the first time, I was offered a lower premium to renew my car insurance than my insurer charged when I moved to them. I’m used to getting a renewal quote around 20 per cent higher than I paid the first time, which means I always switch. This offer was almost 13 per cent lower.

Insurers have tended to penalise those who don’t switch car or house insurance every year by pushing up their premiums. The companies then spend this extra income on cut-price offers to win new customers like me. Those who shop around get…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect