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  • Your Insurance Explained

    Your Insurance Explained

    Insurance can, to many of us, seem like a mystical creature. At AXA, we want to debunk, demystify and strip back the insurance-babble to give you the plain information you need to understand your insurance.

    So, let’s start with some of the reasons why the price of your premium can change. There’s actually quite a lot that can affect the amount you pay, and we use our experience and expertise to calculate a price that’s specific to your unique needs. Here are some of the questions that we aim to make clearer for you. We’re unmasking the mystical and making everything simple and transparent.

    Where does my premium go?

    Trying to figure out why your insurance premium costs what it costs can sometimes be confusing, especially when the amount can go up and down. So, it’s important to us to help you see exactly where your money is going, and that’s why we’ve broken it down to make it as simple and clear as possible.

    Why does my premium change?

    Changes to your premium can be driven by you and your circumstances, but sometimes it’s because of global or local changes, or a shift in the market. This section highlights some of the main reasons why it could go up or down.

    Here are a few different reasons your premium may change, including:

    • Inflation. Premiums will often adjust to keep pace with inflation
    • Changes in government taxes
    • A reassessment of your individual risk following a claim
    • Changes you make that reduce your risk, like fitting a home or car alarm system
    • Investment returns. We invest premiums to help ensure there’s sufficient funds to pay future claims
    • The value or quantity of what you are insuring may have changed

    Personal Insurance

    Here you can find the answers to all the questions you have about your personal insurance. Personal insurance is associated with car, home or travel insurance. Find out more about your personal insurance premium by selecting the relevant questions below.

    Business Insurance

    Here you can find the answers to all the questions you have about your business insurance. Business insurance is associated with business, landlord or van insurance. Find out more about your insurance premium by selecting the questions below.