It’s meant to provide peace of mind and vital support for people during what can be some of the worst times of their lives. But all too often insurers aren’t treating their customers fairly. 

Insurers won't change by themselves, but the regulator has the power to hold firms to account. That’s why we’re calling on the Financial Conduct Authority (FCA) to get tough with poorly behaving companies.  

Insurance is something many of us rely on to protect our homes, pets and holiday plans - and if you’re a car owner it’s not a choice, it’s a legal requirement. 

Do you agree? Sign our petition.

Some insurers are getting away with charging an eye-watering ‘tax on being poor’ to pay monthly customers. Many who can’t afford to pay for insurance annually are being penalised with unjustifiable interest rates. 

For car owners this can mean annual percentage rates of nearly 40%, for home owners it can mean annual percentage rates of almost 35%. People are penalised just for paying monthly. And insurance companies have been getting away with it for too long. 

You know the insurance market is broken, we know it’s broken - even the FCA knows it’s broken. 

Matt Brewis, the Head of Insurance at the FCA, recently described premium finance as “a tax on being poor. Those who are paying monthly are subsidising those who can afford to pay annually.”

The entire customer experience - from buying cover through to claims handling -  is plagued with issues. Consumers are having to navigate a deeply flawed system - it’s time for the regulator to put an end to insurance firms ripping people off. 

People’s trust in the insurance industry is low, falling far behind other sectors like banking, food, broadband, mobile and energy. It’s no surprise - insurance companies have been getting away with treating consumers terribly for too long, and we want to change this. 

Our research shows claims are not being handled well - with people experiencing unnecessary emotional, financial and even physical harm as a result. 

Have you had trouble with a quote or making a claim for home, car, pet or travel insurance? We’d love to hear what happened, tell us about your experience. 

Insurers are piling misery onto their customers by causing them ‘distress and inconvenience’ in nearly two thirds of complaints upheld by the Financial Ombudsman Service.

Just over a fifth (22%) of consumers trust insurance companies to act in their best interests. 

Almost half (48%) of all people making a claim experienced at least one problem in their claim journey.

One in 10 people we spoke to reported developing physical health problems as a result of bad service from their insurance company.

1. Make sure you’ve signed the petition.
2. Share the petition with your friends and family to help us spread the word

3. Follow us on social media for updates on the campaign, and keep an eye out for our emails. Over the coming months we’re really going to need the help of people like you to make sure the FCA listens and takes action against insurance firms doing the wrong thing.

4. Have you had a bad experience with car, home, pet or travel insurance? Let us know what happened here.
   
   
   
   

Our expert reviews can help you compare policies and insurers to make sure you get the best deal. Check out our insurance advice here. 

Or, if you’re looking for advice on the following:

Car insurance

Home insurance

Pet insurance

Travel insurance