The Rising of Car Insurance Premiums
Yesterday, AA proposes a large increase in the cost of car insurance last year, with a record increase of 40% in the 12 months. Now, the average cost of car insurance policy has risen to £ 892.02. It is claimed by the Statistics, part of AA insurance premium index. A number of factors including insurance fraud and private injury claims have been blamed for steep rise. The main reason for rising prices is specifically record compensation culture ‘no win, no fee’ compensation claims have been under fire, with insurance providers insist on this.
Martin Douglas as Director of AA Insurance commented that the news is disappointing and make driving affordable for many people, especially young drivers lack of money was a record increase of fuel costs coupled with car insurance premiums spiral. That’s what causes many people withhold information when making policy or exaggerate personal injury claims due to reduce their costs, but the results only piles on premium costs for insurance and an unsuccessful and higher for honest motorists.
The 35% increase in premiums, with average cost is calculated as £ 835, with an average fire third party and theft policies at £ 1,121. This is evidenced by research from confused.com and Towers Watson. They find the best deals that customers are asked to shop around and compare insurance providers.