Independent UK editorial on car, home, pet, life, travel and breakdown cover. FCA-authorised insurers only, FRN-verified, claims paid data.
Insurance Premium Tax is 12% on most UK policies and 20% on travel insurance and some appliance and vehicle cover. Since 1 January 2022, home and motor renewal prices cannot exceed the price offered to an equivalent new customer. If an insurer fails, the FSCS pays 100% of compulsory insurance claims and 90% of most other general insurance claims.
KEY FACTS
Insurers, discounts and cover types for drivers at every stage.
Buildings and contents cover for owners, renters and landlords.
Cover for pets, trips abroad and the people who depend on an income.
Cover for vans, tools and small businesses.
What happens when a claim goes wrong or an insurer fails.
DISCLAIMER
This page is editorial information about UK insurance. It is not advice on any policy. Rules and figures were correct at the last review date shown; check the primary sources listed below and the policy documents before buying or claiming.
Insurance Premium Tax is 12% on most general insurance. Travel insurance and some cover sold with electrical appliances or vehicles are taxed at the higher rate of 20%. Life insurance is not subject to Insurance Premium Tax.
Not for home or motor insurance. Since 1 January 2022, FCA rules have required the renewal price to be no higher than the equivalent new business price for the same cover through the same sales channel.
The Financial Services Compensation Scheme pays 100% of claims on compulsory insurance, such as third-party motor cover, and on life and other long-term policies. Most other general insurance, including home, travel and pet cover, is protected at 90%.
Up to 8 weeks for most complaints. After that, or after a final response, the complaint can go to the Financial Ombudsman Service, which is free to use. The deadline is 6 months from the date of the final response.
Homes built before 1 January 2009 that meet the other eligibility criteria. Flood Re works through insurers rather than selling policies directly, and the scheme is due to run until 2039.
SOURCES
Get Kael Tripton in your Google feed
⭐ Add as Preferred Source on Google