Why Choose Howden?

The car insurance market is tough for consumers. Some are finding their premiums are increasing and some vehicle owners are finding it difficult even to find insurance in the first place.  But how can you help your clients navigate this?

The motor insurance market has changed over the last few years – here are some contributing factors:

• Inflation and technology are driving higher claims costs
• Luxury vehicle theft claims
• The ‘hard market’ storm

So, whilst it may appear that insurers are profiting from rising premiums, they’re not – it is due to increasing claims costs.

Three ways your client can navigate the market

• Small claims: Insurers are tightening their belts and looking more favourably at clients with a good claims history. So, if your client has minor damage to their vehicle and can afford to pay the costs, it could prove cost-effective in the long run, because if they claim they could see their insurance premium increase by more than the cost of the damage.
• Tracking devices: It’s becoming increasingly common for insurers to require owners to fit their vehicles with an approved car tracker. To meet the likely requirements of a performance car insurance policy, a Thatcham category S5 or potentially a Thatcham category S7 tracker will likely be required.
• Multi-vehicle policies: We’re seeing a decline in insurer appetite for single vehicles with a mid-market value of £55k.  However, if the insurer is insuring more than one vehicle then your client may be deemed a better ‘risk’ and they’ll be more likely to be offered policy terms. Similarly, if an insurer is insuring a home as well as a vehicle then they’re likely to be much more flexible in their approach.

Using a broker

A hard market doesn’t mean a hard ‘no’ for your client, and a specialist broker like Howden has the experience, confidence, leverage, and contacts to secure the best policy deals and quotes. Plus, we have a flexible approach to incentives which can include a share of commission for a successfully placed policy.

What our clients say

“Head and shoulders above the rest. I have been dealing with Darren Mills over the past week to arrange vehicle insurance. Darren fully explained every part of the policy including the benefits, plus some things I hadn’t even considered. He was extremely knowledgeable and seemed to know what I needed without me having to explain. I guess this is down to his experience. Darren returned calls promptly and I never ‘chased’. If you’re considering insuring your pride and joy, then Darren is your man.”

Contact Darren