Insurance premiums across various types, including car, home, life, and travel, are increasing at alarming rates, significantly surpassing the annual inflation rate, which raises concern for households dealing with high living costs.
The recent data shows motor protection premiums have surged by 9.1% over the past year, while travel insurance has seen a substantial hike of 7.8%. Home insurance inflation is currently reported at 7%, indicating substantial economic strain.
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