Premium finance charges as high as 37% but dropping overall – report



















































Premium finance charges as high as 37% but dropping overall – report – Insurance Age





Insurance Age


Money

Pearson Ham has found average premium finance costs for motor and home insurance fell over the last year but also revealed charges as high as 36.8%.

In September 2024 the average cost of paying motor insurance premium in monthly instalments was 10.7%, down from 11.9% in October 2023, according to the analysis.

Pearson Ham detailed home insurance costs were also lower as the market average was 8.3% in September 2024, a decrease from 10%.

Pearson Ham welcomes the FCA’s efforts to ensure transparency and urges insurers to continue refining their offerings to ensure consistency and fair value for consumers.

Premium finance charges for motor

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