Increasing fraud compensation culture, fraud and savvy clients have lead to a sharp increase in the car insurance premiums, according to the latest survey conducted by AA insurance. Frequency of claims on personal injuries by the drivers has hit car insurance companies really hard and it has outstripped car insurance premium by 20%. As per AA insurance’s director, personal injury attorneys are responsible for the increasing number of claims by the drivers. Their intriguing marketing messages are getting embedded in the culture of British.
A lot of drivers are also claiming money in case of minor injuries like mild whiplash pains that they never used to be bothered of in the past. Index also revealed that car insurance cost has increased more than 7% in last quarter of 2009. Other factors that are contributing to car insurance premium increase are cold spell that resulted 30% more claims than usual and accident damage costs.
The director further elaborated the research reports and said that rising number o frauds is also one of the concerns of the insurance companies. Fraud is costing £2 billion every year to the insurance companies that have lead to £44 on every household. Situation is unsustainable and the increase in premiums is hard to come up even in the midst of competitive insurance market.
All these things have leaded the drivers to review their car insurance covers on yearly basis as new clients are given better deals by the insurance companies. Drivers waste around £141 every time they stick to their car insurance company rather than indulging in comparison shopping. Check out car insurance comparison sites and find lucrative deals for covering your vehicle against any kind of loss or damage. Comparison shopping now only helps in saving your valuable time but will also help you in saving your time
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- 14 % rise in Car insurance premiums
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- Fines being considered cheaper than car insurance premiums