Car insurance premiums are rising at their fastest-ever rate, making it all the more important that drivers compare car insurance policies to find the cheapest deals.
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.
0 comments:
Post a Comment