August 3rd 2007

NU Home Insurance Premiums Raise by 10% | Cheap Car Insurance and Home Insurance from Confused.com

Norwich Union today announced its insurance premiums are up 10%, Debra Williams, Managing Director, Confused.com said:
'This is the news everyone has been fearing. All insurers have been hit by a deluge of claims in recent weeks, and price hikes are inevitable.

'The insurance industry is hurting; an industry report published earlier this week predicts that property insurers alone will end the year paying out claims of around £3 billion.

'Norwich Union's premium gives the green light to others to follow - it will be interesting to see who does. We also anticipate that the insurance excess - the amount you must pay before your insurance cover kicks in - could rise as well as premiums.

'The bad weather will mean increased premiums across the country, not just for those in traditional flood risk areas. But not all insurers have been affected equally by flood claims, and some may take a more optimistic view about this year's weather, seeing it as a one-off, not a trend. Insurers assess risk in a slightly different way, so it will pay to shop around and see what deals there are. Obviously the easiest way to do this is via one of the on-line price comparison sites.

'Every household will be assessed slightly differently by different insurers, so it's more important than ever to make sure you search for the right policy for your own house.'

NOTES TO EDITORS

About Confused.com

• Confused.com is an online comparison site that allows people to search and compare the best prices for car insurance, home insurance and travel insurance.
• Confused.com customers are currently saving on average £151 when searching for buildings insurance, and £215 when searching for car insurance.
• Confused.com provides real-time, fully underwritten quotes in less than two minutes: with Confused, the quote you see is the price you pay.

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