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Are insurance premiums going up?
Are insurance premiums increasing in 2023?
Asked on 14 April 2023 by Mr H. S. Martin
Answered by
David Ross
The price of pretty much everything is going up so far in 2023 as inflation remains high, so your insurance premium renewal is almost certainly going to be higher than in 2022.
However, insurers typically send you a renewal quote that is higher than the previous year, because they rely on many drivers not going to the trouble of getting new quotes from other insurers. We would always recommend shopping around every time your insurance is due - in fact 23 days before your policy needs to start is the ideal time for the best prices. Use price comparison sites to get lots of quotes with minimal effort.
However, insurers typically send you a renewal quote that is higher than the previous year, because they rely on many drivers not going to the trouble of getting new quotes from other insurers. We would always recommend shopping around every time your insurance is due - in fact 23 days before your policy needs to start is the ideal time for the best prices. Use price comparison sites to get lots of quotes with minimal effort.
We give you the low down on how to save on insurance, little-known tricks and tips, what insurance groups mean and how to use insurance aggregators to beat insurers.
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