Posted: Tue Jun 22, 2021 3:26pm
I don't really know ..... but, by way of example, I used to have an old sports car in the UK on "Classic Car Insurance". I had it with the same insurer for years. Then one day the renewal came up at 4 times the usual price !
When I questioned this, the answer was simply that the insurer was streamlining the business options, and getting out of the "classic" business. So I said "OK, I'll switch to normal insurance, but surely I have many years of NCB ?" The answer was "your previous classic policy didn't award NCB, so pay up or get lost" .... I paraphrase ...
I had the car transported to Spain and insured it here.
But, in summary, I think many insurers are streamlining, and getting out of niche (unprofitable ?) business areas, and Brexit complexities (real or imagined) will cost money to administer.