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Get in touch
- Source Insurance, Global Reach, Cardiff, CF11 0SN
- [email protected]
- 02920 265265
- Monday to Friday: 8.30am to 5pm
- Source Insurance, Global Reach, Cardiff, CF11 0SN
- Support 02920 265265
Premiums Landing Page
Why Are Insurance Premiums Rising?
As we all know, the cost of living means everyone is feeling a financial squeeze. This is no different for insurers.In short, premiums are rising because the cost prices for insurers are increasing. This means that premiums have to increase as a result.
But What If I Haven't Made a Claim?
Insurance works by pooling together every policyholder’s premium fees. These fees are then stored as a reserve in the event of a claim being made. So, claims and losses are taken from this pool and used to reimburse policyholders claiming from their insurers. The contributions of the many fund the losses of the few!
The cost of claims increasing means that the pool needs to be bigger. This, in turn, increases the size of the premiums paid by policyholders.
Why is My Insurance Premium What it is?
We’ve searched our panel of insurers and the renewal price is the best rate that we can find, whilst still meeting your needs and expectations. Please contact us to further discuss your home insurance cover.
If you’re struggling to pay your premiums, but would like to stay with Source, then please contact us to discuss your options. We’re here to help!
Customer service that cares
Bron says:
We’re here to help.
At Source, we prioritise genuine human connection over automated responses. When you reach out to us, you can trust that you’ll always speak to a real person who’s ready to help.