Thousands of motorists could be left without valid auto insurance today following the collapse of a provider. Premier Insurance Company Limited, a Gibraltar-based insurer serving UK customers with car and motorcycle policies, recently entered administration. Policyholders are advised to secure new coverage as existing policies are no longer effective as of December 1.
Individuals who have already switched to a new insurer will be safeguarded by the new policy. It is estimated that approximately 16,000 customers, including small businesses, were covered by Premier Insurance before its collapse. Claims under Premier Insurance are now managed by the Financial Services Compensation Scheme (FSCS).
The company ceased issuing new policies in January 2025, with Freddie White and Bradley Chadwick of Grant Thornton appointed as joint administrators. Sarah Marin, chief customer officer at FSCS, assured customers that eligible UK policyholders and small businesses with less than £1 million in turnover will be protected. Claims will be assessed in accordance with policy terms.
Auto insurance is mandatory in the UK and must be renewed annually, with three main types available: third party, third party fire and theft, and fully comprehensive. When seeking new quotes, comparison websites like Compare the Market, Go Compare, and Confused.com can assist in price comparison. MoneySavingExpert.com recommends renewing insurance 20 to 26 days before the current policy expires and suggests checking quotes directly with providers not listed on comparison sites, such as Direct Line.
Policyholders are encouraged to explore cashback options on platforms like Topcashback and Quidco when switching insurers. At Reach and its affiliated entities, user data is collected to enhance site experience and deliver personalized ads, with options to opt out available. Acceptance of cookies and adherence to privacy and terms policies are assumed upon using the website and associated services.