Insurance rates are rising at rocket high speed

The car insurance premium rates have gone sky high with 40% increase within a year. The comprehensive car insurance policy is quite expensive while third party, theft and fire insurance cover are most expensive. The extra optional car insurance cover is more expensive as the drivers with risky driving need them most so the provider tries to cover the risk by charging more for the premium.

The irresponsible nature of the drivers sometime gets them in troubling situation and they have to make claim. The car parked with expensive items on display will attract the thieves for stealing. The youngsters have the nature to keep their items on display while shopping, which increases the risk of theft.

The youngsters try to drive each other cars, which also take them in trouble as they might not have comprehensive cover and in the case of accident by the friend, you will have to bear the expense.

The average premium paid by the young drivers has shoot up to 62%, as the providers do not trust their driving skills. The experienced drivers still have manageable car insurance quotes for their vehicles due to safe driving. You can check affordable car insurance quotes for everybody at car insurance comparison site.

The providers are blaming fraud personal injury claims that have run down the insurers account and they charge hefty premium to combat the loss. The crashes are on decrease but still the whiplash injuries and claims are increasing as the victim is trying to make money by making false claims.

The government has come forward to combat this problem by baring the referral fee, which will reduce the personal injury case. This will impact the insurance industry and in future you might see some relief in insurance premium prices. The car owners have good news as the insurance premium might keep on rising but its rate might derail resulting in the rise of insurance premium.

Get low cost insurance when you use car insurance comparison sites online to compare insurance quotes.

310 Insurance rates are rising at rocket high speed