Motor and building insurance complaints hit five-year high....

Complaints about buildings, car and motorcycle insurance have reached a five-year high, according to new figures published by the Financial Ombudsman Service today.

In the first three months of this financial year (April-June 2023), the Financial Ombudsman received 3,869 complaints about car/motorcycle insurance alongside 1,776 buildings insurance cases.

By comparison, in the first three months of 2019/20 the Financial Ombudsman received 2,626 complaints about car and motorcycle insurance, and 1,275 complaints about buildings insurance.

This increase in insurance complaints appears to be caused by several factors. There has been a rise in insurers delaying in paying out on claims, while at the same time contractor availability has impacted on the speed of repairs, as has the ability to source materials.

Travel insurance complaints have also doubled in a year – increasing from 504 complaints in the first quarter of 2022/23 to 1,101 in the same quarter this year. That’s the highest Q1 figure for travel insurance complaints in more than a decade.

To read more, click on the link below

https://www.financial-ombudsman.org.uk/news/motor-and-building-insurance-complaints-hit-five-year-high