News

• Analysis² reveals that since 2012, increases in compulsory excesses for fire, theft and accidental damage claims have outstripped inflation³;
• Depending on the policy, drivers face excesses of up to £3,000 for excesses for accidental damage, theft and fire-related claims;
• 62% of drivers admitted they would have to raid savings or turn to credit to pay their excess, in the event of a claim;
• GoCompare Car Insurance’s new free excess protection will pay-out up to £250 for qualifying⁴ car insurance claims.

Analysis¹ of car insurance policies reveals that since 2012 admin fees have become more commonplace, with charges increasing by twice the rate of inflation²

• 85% of homeowners have updated their property in the last 5 years;
• Interior redecoration, new bathrooms and flooring top the home improvement list;
• Home fashion trends account for 8% of improvement works;
• GoCompare Home Insurance warns that major improvement works might invalidate home insurance cover.

GoCompare shares tips on how to avoid having a car insurance claim rejected

62% of drivers admit they would have to raid savings or turn to credit to pay their excess, in the event of a claim

The Government has announced a change to the ‘Discount Rate’ – also know as the Ogden rate – applied to personal injury lump-sum compensation payments, to minus 0.25% from minus 0.75%.  The increase is likely to result in lower car insurance costs for motorists.   

• 1.5 million people have delayed plans to move home in the last three years;
• 60% of would-be home movers have put their plans on hold due to Brexit.

GoCompare, one of the UK’s most established comparison websites, has joined the Insurance Fraud Bureau (IFB) as an official member.

“Most drivers are still paying historically very high prices for their car insurance”

• 50% of motorists think it should be illegal for insurers to charge existing customers more than new customers for the same cover;
• Most (61%) drivers say new customers get a better deal on their insurance than those renewing their cover;
• Motorists could save up to £247.29** by shopping-around for car insurance using GoCompare Car Insurance