Thousands of motorists could be without valid car insurance starting today following the collapse of a provider. Premier Insurance Company Limited, a Gibraltar-based insurer catering to UK customers with car and motorcycle insurance policies, recently entered administration. Policyholders are urged to secure alternative coverage as their existing policies are no longer valid.
Affected individuals who have already switched to a new insurance provider will have coverage under the new policy. It is estimated that around 16,000 customers and small businesses were covered by Premier Insurance before its collapse. Claims are now being handled by the Financial Services Compensation Scheme (FSCS) as the company is no longer processing payouts.
Premier Insurance ceased issuing new policies in January 2025, with administrators Freddie White and Bradley Chadwick overseeing the process. Sarah Marin, the FSCS’s chief customer officer, emphasized that efforts are in place to protect eligible policyholders and small businesses affected by the insurer’s failure.
In the UK, car insurance is mandatory and must be renewed annually, with options including third party, third party fire and theft, and fully comprehensive coverage. When seeking new insurance quotes, utilizing comparison websites like Compare the Market, Go Compare, and Confused.com can help find competitive prices. It is recommended to renew car insurance 20 to 26 days before the current policy expires, exploring quotes directly with providers not featured on comparison sites, such as Direct Line.
Policyholders switching to a new policy should explore cashback options on platforms like Topcashback and Quidco. Additionally, setting Daily Mirror as a ‘Preferred Source’ on Google News offers quick access to valuable news content.
