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RIAS freezes premiums - in contrast to the national picture

Older household insurance customers are more likely to have seen an increase in their household insurance premiums in the last year according to statistics released by RIAS, the over 50s specialist insurer. The figures show that the average premium increase is over £30 in the 50+ age range. Across all age groups about a sixth (15 per cent) have seen an increase of over £50.

The survey of over 1,500 UK adults was commissioned by RIAS as it announced a two-year fixed price offer for its home insurance customers who join before the end of August.

Janet Connor, managing director of RIAS commented: “We wanted our customers to enjoy the reassurance and peace of mind that goes with knowing that their insurance premiums will not rise for the next two years. Older people are more likely to hold some form of household insurance with 98 per cent of respondents in the 60-69 age group saying they have household insurance, on that basis fixing the premium on our household product seemed a very good offering for our customers.”

In addition to the increased insurance premiums for older people, the survey also revealed some interesting facts concerning life and lifestyle, notably that confidence increases with age - almost three-quarters (72%) of respondents in the 70+ age group said this is one of the benefits of getting older.

Donna Dawson, social psychologist comments: “This research shows that the over-fifties have come to some interesting conclusions about the things that are really important in life - and these things are not based on money, career achievement or material possessions. Years of life-experience have shown this age-group the importance of family and of lasting friendships.”

“The over-fifties have the time and the necessary perspective to take stock of their lives and of what they have achieved: and the emphasis seems to be on those people closest to them, who have given their lives a deeper meaning.”

Family occasions dominate joyous experiences for older people with the birth of a child or grandchild being the one momentous experience they would like to re-live.

RIAS has experienced rapid growth since its formation in 1992 and now handles over a million policies with products including home, motor, travel and pet insurance as well as a free-of-charge ID Theft assistance service for its home insurance customers.


Editors Notes:

RIAS Two-Year Fixed Price Offer - Terms and conditions:

1. To qualify for the offer, home insurance policy must start on or between 1st April and 31st July 2007.
2. The offer is dependent on no claim being made during the first year of the home insurance policy.
3. Any changes to the home insurance policy during the first year may invalidate the offer.

The Survey was conducted by Canvasse Opinion from Experian, who interviewed 1,547 adults (aged 18+) in the UK online, between the 20th - 25th April 2007.

About RIAS

· RIAS was established in 1992 and is a specialist provider of insurance products for the over 50s age group
· RIAS negotiates with a panel of insurers to secure competitive, value for money products
· RIAS has over 880,000 customers and employs over 1,200 people across two locations - Bournemouth and Belfast
· In January 2007 RIAS’ home insurance contents policy received a ‘Best Buy’ award from Which? magazine

For more information contact:

Simon Robinson
Tel: 01202 254545

JBA Public Relations
Lillian Lazarevski/Bea Sharples
Tel: 020 8875 5460
Email: or

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