14 years of rising insurance costs 'are unnoticed'

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14 years of rising insurance costs 'are unnoticed'

Consumers are largely unaware of how much insurance premiums have risen in recent years.

This is the assertion made by comparison website Gocompare.com, which has assessed both petrol and insurance costs in recent times.

According to the website, while people know that petrol costs have risen in the last year, insurance premium increases of more than eight per cent a year for the past 14 years have "largely gone unnoticed".

Gocompare.com noted: "Insurance providers don't generally go out of their way to point out how much our renewal premium has gone up."

It advised consumers to shop around as not all insurers are increasing their costs.

In September, Gocompare.com urged consumers to be wary of a new price check service by Norwich Union.

It said Norwich Union had "struggled to keep (its) premiums competitive" and said that "unfortunately for them, there's now nowhere to hide for their existing products".

Gocompare.com said the new initiative was not a comparison service.

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