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Increased cost of materials and labour continue to push up price of motor insurance in the last quarter

  • Following successive quarterly increases in costs, some insurers have reported further Q3 increases of 16% for materials, 15% for labour and 46% for other costs, largely driven by the price of energy.
  • In the third quarter of 2023, the average price of motor insurance was a record £561, an increase of 29% compared to the same time last year.
  • The Association of British Insure

Record £2.4bn in motor claims paid in first quarter of 2023, say insurers

A record £2.4 billion was paid out in motor claims in the first quarter of this year as firms find surging costs increasingly challenging to absorb, according to the Association of British Insurers (ABI).

INSURANCE APPROVED DOOR LOCKS

Home insurance companies approve certain types of locks for your house. These are the most secure types and conform to British Standards (BS3621).

When you’re looking for a home insurance policy, you’ll be asked what type of locks you have on your exterior doors and windows.

House Security

House Security

Sometimes we tend to take it for granted that our homes are secure. A good many burglaries are committed by opportunistic criminals. Open or unlocked doors and windows are used to gain quick and easy access to homes.

Good home security, such as using window and door locks, is the best way to reduce your chances of being burgled.

Protecting Heating Oil

Protecting Heating Oil

Fuel oil tanks can be seen as rich and easy pickings by thieves. This means that farms, transport depots and domestic properties can be targeted, particularly in more rural locations.