Brits are increasingly looking at ways to save money on their insurance as the cost of living continues to soar.
The British Insurance Brokers’ Association (Biba) said the number of inquiries fielded by its call centers was almost doubled last year compared to a decade ago.
Biba said it received almost 3.5 million inquiries to its “find insurance” service between 2012 and 2022. Specifically looking at its call center, it said that 97,862 inquiries were handled in 2022, nearly doubling (a 92.7% increase) compared with 2012.
It highlighted the case of a 62-year-old woman from Leeds in Yorkshire, who was looking for travel insurance for her nephew’s year-long trip to Japan. She was signposted to Biba’s “find insurance” service and found a specialist to cover a working trip.
She said: “Things only got better when it was explained to me that a year-long holiday was unlikely – that’s when everything dropped into place, I was looking for the wrong product as my nephew was traveling on a working visa.”
Graeme Trudgill, Biba chief executive, said: “Travel insurance is hugely important, offering you financial protection for many situations. Most importantly if you have a medical emergency or have to cancel your holiday due to unforeseen circumstances.
“Policies vary significantly in terms of levels of cover so it’s essential that you get a policy that is right for you.
“Our find insurance service can put you in touch with a specialist broker to help find a suitable policy for your specific needs. It has helped many consumers but is particularly useful if… you have non-standard requirements and are struggling to find insurance online, or an ‘off the shelf’ policy doesn’t cover your individual requirements.”