Thousands of motorists could be without valid car insurance today due to the collapse of an insurance provider. Premier Insurance Company Limited, a Gibraltar-based insurer offering car and motorcycle policies to UK clients, recently entered administration. Existing policyholders will need to secure new coverage as policies with Premier Insurance are no longer valid. The company, which served approximately 16,000 individuals and small businesses, ceased claims payouts, with the Financial Services Compensation Scheme (FSCS) stepping in to cover eligible claims.
The joint administrators, Freddie White and Bradley Chadwick of Grant Thornton, were appointed after the company halted new policy issuance in January 2025. Sarah Marin, the chief customer officer at FSCS, reassured policyholders that efforts were being made to protect eligible UK customers and small firms affected by the insurer’s failure. Car insurance, a legal requirement in the UK, must be renewed annually and offers different coverage options such as third party, third party fire and theft, and fully comprehensive.
To find new insurance, consumers are advised to use comparison websites like Compare the Market, Go Compare, and Confused.com. MoneySavingExpert.com suggests renewing policies 20 to 26 days before expiration and checking quotes directly with some providers not listed on comparison sites, like Direct Line. Additionally, individuals switching policies should explore cashback options through platforms like Topcashback and Quidco to maximize savings.
