Money Box Live: Cost of Insurance

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 19 February 2025

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Car, home, travel and life insurance are just some of the policies we might take out to protect ourselves if the worst happens.

This year we've already seen floods followed by freezing temperatures and property claim pay outs hit £4.1 billion last year according to industry figures.

So this week we look at whether insurance companies step up when we need them, and more widely at the rising costs of insurance, particularly for motorists.

Felicity Hannah is joined by experts Mark Shepherd from the Association of British Insurers, and Sam Richardson, Deputy Editor of Which? Money.

Presenter: Felicity Hannah Producer: Sarah Rogers and Craig Henderson Editor: Jess Quayle

(This programme was first broadcast at 3p.m. on Wednesday 22nd of January 2025)

Transcript

Click on a timestamp to play from that location

0:00.0	Eleven climbers appeared to have died on the world's second highest mountain K2.
0:06.0	It was one of the deadliest days in mountaineering history.
0:10.0	Rock falls, avalanches.
0:11.0	Huge pieces of ice. All are big enough to kill you.
0:14.0	He just flew out into Devoid and he was gone.
0:17.0	How did it all go so wrong?
0:19.0	And is it really worth risking death to feel alive? Why would
0:23.2	somebody pay to go to a place called the death cell on a vacation? Extreme, peak danger. With me,
0:29.9	Natalia Melman Petrazella. Listen to the full series now. First on BBC Sounds. BBC Sounds, music, radio, podcasts.
0:39.7	Hello. Insurance is perhaps the only product where we pay for it
0:43.1	and hope we never have to actually use it.
0:45.7	There's car, home and travel to name just a few.
0:48.6	And it's something Moneybox Live podcast listeners
0:50.7	contact us about quite a lot.
0:52.8	Because when the worst happens, like the floods earlier this month, it can be devastating.
0:58.6	I just don't know what's going to happen next week.
1:01.6	Anxiety. I can't sleep.
1:03.8	We'll hear more from David very shortly.
1:06.0	Property claim payouts hit a record 4.1 billion pounds in the first three quarters of last year. That's
1:12.0	according to industry figures. And premiums are rising. It has gone from 253 pounds per year,
1:19.0	up to 970 pounds per year. So today, when it comes to insurance, we've got you covered. We've got a lot
1:25.6	to get through. Before we meet today's experts, though, let's meet David. He's one of dozens of residents forced to leave their flats in the beautiful
	...

Transcript will be available on the free plan in -40 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.