My insurance went up 500%

Got a renewal quote in the mail. The renewal is for over a grand where as my insurance last year was £200. Obviously not gonna pay it. In fact I'm not even gonna bother phoning the company to question it because I can get a quote for less than £200 from another company. It does make me wonder because this sort of thing is far from unheard of in the insurance game.
I'm thinkin maybe the company is dealing with more customers, claims etc than it can comfortably handle. So to ease the pressure it is literally forcing customers to go elsewhere until they get back to a point they can manage their workload. Its the closest explanation to making sense that I can think of.

Insurance companies have a tendency to treat their customers like they were born yesterday. Unfortunately this because most of them actually are. They know that if if they put up the renewal price people will still buy it, because they can't be bothered to switch to another provider. The same happens with energy companies, banks, and many other industries. Essentially it's a tax on lazy and/or stupid people.