What Could Brexit Mean For Insurance Premiums?


Since Britain voted to leave the EU a short while ago uncertainty has rent the air; most people have no idea what is going to happen next month or even next week. When it comes to something like insurance which affects everyone there are all kinds of rumours – some say that UK insurance brokers are certain to raise premiums now that the pound has lost value. Ask others and they will tell you that this is a temporary situation; the British economy is strong and sooner or later things will correct themselves.

So which is it? Should you start making allowances for larger insurance premiums or should you wait it out? The truth is that no one really knows what is going to happen. This doesn’t apply to insurance only; it applies to all sectors of the economy. There are many so-called experts who are predicting that things will go this way or that. The fact is that there is no way of knowing. This is an unprecedented situation; no country has ever left the union so there is no point of reference in history. The best thing that you can do is to get the best insurance advice.

There are consulting companies such as Mortgage Advice Services that can help you weather the situation no matter what happens. Whether insurance premiums increase, remain as they are or reduce Mortgage Advice Services will help you find an insurance company that is right for your needs. Most people who buy insurance are not aware that they can get a better deal elsewhere. They buy from a company either because they have been buying from it for years, their friends or family buy from it or simply because it is convenient. If you do this you may be paying more in premiums than you should.

A company such as Mortgage Advice Services knows all the insurance companies and what they have to offer. They will look at your unique situation – what you need insured, for how long and how much you want to pay in premiums – and then they will get you matched to an insurance company that can meet your needs. They don’t stop there; they will look at your overall finances and advice you on how you can better manage them. In other words, they are not just about insurance advice; they are about wholesome financial health.

You can find out more on their website, http://www.mortgageadviceservices.co.uk/  

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