Submitted on Tuesday 27th February 2018
Published on Friday 2nd March 2018
Current status: Closed
Closed: Sunday 2nd September 2018
Signatures: 12
Tagged with
Debate the protection of vulnerable people from excessive insurance renewals
The government needs to protect elderly and vulnerable people who are unable to look for and change to more competitive deals with alternative insurance providers for home insurance.
Which may result in the elderly person and property not being insured as the excessive cost is prohibitive
I have personal experience of a number of elderly persons receiving excessive home insurance renewal premiums which were five times market rate. This is due to the insurance company's understanding that the elderly could be without internet access or otherwise isolated and would find it difficult or indeed impossible to move to cheaper alternative providers - and therefore incumbent insurance companies inflate renewals and any subsequent offers as there is no independent oversight available.
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