Brits more and more searching for cheaper insurance coverage as prices proceed to soar

Brits are more and more methods to save cash on their insurance coverage as the price of dwelling continues to soar.

The British Insurance Brokers’ Association (Biba) mentioned the variety of inquiries fielded by its name centres was nearly double final yr in comparison with a decade in the past.

Biba mentioned it acquired nearly 3.5 million inquiries to its “find insurance” service between 2012 and 2022. Specifically its name centre, it mentioned that 97,862 inquiries had been dealt with in 2022, almost doubling (a 92.7% improve) in contrast with 2012.

It highlighted the case of a 62-year-old girl from Leeds in Yorkshire, who was searching for journey insurance coverage for her nephew’s year-long journey to Japan. She was signposted to Biba’s “find insurance” service and located a specialist to cowl a working journey.

She mentioned: “Things only got better when it was explained to me that a year-long holiday was unlikely – that’s when everything dropped into place, I was looking for the wrong product as my nephew was travelling on a working visa.”

Graeme Trudgill, Biba chief govt, mentioned: “Travel insurance is hugely important, offering you financial protection for many situations. Most importantly if you have a medical emergency or have to cancel your holiday due to unforeseen circumstances.

“Policies vary significantly in terms of levels of cover so it’s essential that you get a policy that is right for you.

“Our find insurance service can put you in touch with a specialist broker to help find a suitable policy for your specific needs. It has helped many consumers but is particularly useful if… you have non-standard requirements and are struggling to find insurance online, or an ‘off the shelf’ policy doesn’t cover your individual requirements.”