Why has my insurance premium increased?

26 November 2018

Over the past few years, a lot of big “insurance events” such as natural disasters here and abroad, have meant huge payouts from insurance companies. The cost of technology included in many vehicles is getting more sophisticated and expensive to replace. And with more vehicles on the roads, the frequency of claims has increased too. So more claims and higher repair costs are two big factors.

Obviously nobody likes paying more for anything. So what are we doing to counter these increased costs?

At Star Insurance Specialists, we approach all of our customers as unique individuals with their own needs. By asking you the right questions we can provide perfect insurance policies that cover everything you need, whilst not charging you for what you don’t.

By removing a lot of the automation that is so common in business these days, we move you from being a faceless, generic customer, to an individual with a tailored insurance policy and premium. We don’t just assess your policy needs when you first join us, we repeat the same process every year at renewal time.

We let you know things like, if you choose a higher base excess -- because you believe you’re a low risk -- then that can translate into a lower insurance premium for you. We ask plenty of questions so you don’t pay more than you need to. And we want to make sure that the policy still meets your needs and nothing in your situation has changed drastically.

A good time to review your motorhome insurance policy is when it comes up for renewal. Before you call or email us about your policy, ask yourself:

• Has my vehicle’s value decreased?
• Have I added or removed the amount of contents (other than appliances or accessories permanently fixed) that I drive around with?
• Do I now live in my RV when previously I was covered simply for recreational use only? Or do I no longer live in my RV?
• Have I received a speeding ticket or a Police conviction in the past 12-months?
• Have I had any other significant changes in the past 12-months?
• Would I rather have a higher excess in exchange for a lower premium?

Being upfront with your insurance company about any changes to your circumstances is always a good policy to follow. And it doesn’t have to result in higher premiums either. But by being transparent you’re protecting your future interests.

As you can see, we do everything we can to limit any impacts on your insurance premiums. We insure our own vehicles too and treat you how we want to be treated. Fairly. That means we’re not box tickers, but real humans creating personalised insurances for our human customers.