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Across the insurance sector premiums have been rising. It affects all of us and is a bitter pill to swallow when we haven’t made claims, pay on time and even show loyalty. Let’s look at some recent examples.

Comprehensive motor insurance premiums are up 19.6% on average over the past 12 months – and 8.3% in the last quarter according to the AA**. Third party, fire and theft premiums are up a whopping 24.7% year on year. The damage looks to be less when you look at home insurance premiums, with buildings up 2.4% and contents 3% over the last 12 months, but the trend is upwards.

Doctors, dentists, opticians and the like are not immune to the pain of these premium increases. All the more important, then, that you should find some solace in your locum and overheads insurance premiums.

Locum insurance and overheads insurance rates frozen – again

The good news is that Practice Cover has not increased its clients' premium rates... ever! Why? It’s because we value loyalty, and offer what we feel is the best insurance at the right price. While we can’t absorb tax increases – and sadly the rate of Insurance Premium Tax rose again in June – we have not touched our premium rates.

Our competitors are making price increases, and in a sector where insurers are paying out £9.9m every day* on protection policies this may not sound surprising.

But we have no plan to follow suit. Just look at the facts on how we’re adding value at every stage:

· At Practice Cover even clients who have made a claim have not been charged a higher premium. That’s not how we work.

· We have a ‘continuity of cover’ option with our locum insurance so that, if you become ill – let’s say you have a heart attack – the underwriters won’t exclude heart attacks from your future cover.

· We include a no claims discount so premiums can actually reduce by staying with us.

· We can confirm that premium rates will stay the same in the foreseeable future – as they have for more than 7 years.

These facts explain why we’re one of the most stable and cost-effective providers of locum insurance and overheads insurance on the market.

If you’d like to know more about our policies, then speak to Lynda Cox on 0800 028 5633.

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* Insurers’ pay outs for protection policies, including income protection, critical illness and life insurance. Source ABI 2017.

** AA British Insurance Premium Index Q2 2017

The opinions presented in this blog are solely those of the author on behalf of Practice Cover Limited and they do not constitute individual advice. Practice Cover is a trading name of Practice Cover Limited and is authorised and regulated by the Financial Conduct Authority


Efficient and complete.

Dentist, North Wales

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