Posted Thu, 28/01/2010 - 11:35 by admin
Insurance News - Thursday 28th January 2010
UK motor insurance premiums increase yet again |
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Thursday 28th January 2010
The AA insurance has today commented upon the state of the UK motor insurance market with a suggestion that the average comprehensive motor insurance policy is now costing in excess of £1000 a year. This is an increase of around 20% on the 2008 figure and is predominantly because of fraudulent claims and the damage caused by uninsured drivers in the UK. All in all it is believed that UK motorists will face an additional £2.1 billion in insurance costs this year alone purely and simply because of these fraudulent claims and uninsured drivers. Despite the fact that the recession is still impacting upon many people around the UK, and indeed some people are considering downgrading or even cancelling their car insurance, the cost of insuring your vehicle continues to climb higher and higher. In what is certain to become something of a vicious circle, a 20% increase in motor insurance premiums will almost certainly see more people taking the risk of driving uninsured which will yet again feed into the cost of insurance premiums in the future. Quite why perfectly legal and insured drivers have to pick up the bill for those who have decided not to take out insurance, which is illegal, continues to remain a mystery to many in the UK.
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Comments
Quite right. Too often
by Mark - 24 Mar 2010 - 00:42
Quite right. Too often insurance companies blame those who claim for compensation for injuries they suffered after an accident for pushing up premiums. Really the cost of uninsured motorists to them far outweighs this. They greedily pass on the cost of uninsured motorists to us the consumer.
Unfair
by mariem - 14 Jun 2010 - 14:04
this is just unbelievably unfair. I have just received my quote for this year and my car insurance has rocketed. Not by 20% but by almost 50%. I have made no claims in the last 5 years and have a clean licence. Its simply not fair that the honest driver is having to fork out for these bloody fools who are making life harder than it already is.
Rip Off
by OJ - 14 Jun 2010 - 19:50
Its shocking that they are allowed to get away with this.
I have made no claims and unfortunately gained 3 points back in October when I got a rather dubious speeding ticket, however I am currently pricing up this years insurance premiums and it seems the insurance companies have gone mad.
Over the last year I have paid about £70 per month for my car insurance on a Smart roadster. Even though I have gained a years no claims bonus the the comparison websites as suggesting monthly payments in excess of £130.
I understand that uninsured drivers and first time drivers crashing, costs us all money but adding 90%+ to my premiums doesn't seem right.
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