Have you ever wondered why you are being charged so much for your car insurance policy. A number of reasons and factors add up to your car insurance cost. A recent survey has revealed that about £50 in a car insurance policy cost is because of uninsured drivers and fraudulent claims.
An innocent car insurance customer visits car insurance comparison sites and devote much of his time and effort to find a best deal. However, he ends up paying a hefty amount just because many motorists in UK are making fraudulent claims or giving wrong information to the insurance companies for manipulating the costs.
Cooperative insurance says that honest and innocent drivers who abide by the law are bearing the load due to dishonest and scammers. The extra bill amounts to a whopping £1.25 billion every year. On an average, this amount is equal to a 52 days cover for an average car insurance policy or equals to one day in a week for each year.
In addition, three out of four people have admitted that they had driven their vehicles illegally without either an MOT, insurance cover or a license in the last year. Driving a vehicle without a valid license is illegal and a defaulter is liable to pay a fine and get penalty points. In some cases, if a driver is caught without a valid insurance policy for the car, it may be crushed or sold by the authorities.
Many people are deliberately evading the law and not insuring their cars. This is causing massive rise in the car insurance costs even to the innocent motorists who have been following all the rules and regulations. Not just the innocent and honest drivers are facing the brunt, but the whole car insurance industry is facing an unjustified and unnecessary risk.
Get low cost insurance when you use car insurance comparison sites online to compare insurance quotes.