Compare car insurance to overcome rising premiums
22 July 2010 10:23:13
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| Fraud is pushing car insurance premiums higher. |
According to the latest AA British Insurance Premium Index, premiums rose by more than 11% during the three months to June 30th and the average annual comprehensive car policy now exceeds £704.
This is the biggest increase since the index was first collated 16 years ago and is being blamed on fraudulent claims.
"The latest British Crime Survey (published July 15th) suggests that crime levels are falling, but crucially it misses a new 21st-century wave of fraud such as providing false information and claiming for non-existent personal injuries," said AA president Edmund King.
"Last year, the cost of meeting claims exceeded premium income by 22% and the spiralling increases we're seeing show that insurers are trying to fill that chasm," he added.
Consumers can save money by performing a car insurance comparison and locating the best-value deals.
However, the cheapest policies may not provide the same level of cover as pricier options, and M&S Car Insurance recently advised drivers attending summer festivals to check they have adequate cover for their journey.
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Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.