Average Cost Of Car Insurance Over £1000

11 Aug, 2012

 

According to the AA British insurance premium index, the average cost for fully comprehensive car insurance is now over £1,000,

The average cost of car insurance is now £1,034, breaking the £1,000 barrier for the first time, according to the AA British insurance premium index.

Motor insurance is now 8.5 per cent higher than it was a year ago and has doubled in price over four years.

In July 2008 the average fully comprehensive policy cost just £509.

Young male drivers have been hit the hardest by the price rise, with premiums for young male drivers up the age of 22 now reaching £2,792 on average….More at Average car insurance now more than £1000 – Finance Markets

This increase in insurance costs is attributed to the increase in people claiming whiplash compensation, and especially the fraudulent claims that are on the increase. While everybody agrees that fake claims are a problem and do contribute to the increase in insurance costs, I would like to reiterate that not all claims management companies and/or solictors participate in this practice. For instance here at yourcaraccidentclaim.co.uk, we screen every potential claimant for the eligibility of their claim and if we suspect in any way, shape or form that the case does not have a significant grounding we quite simply will not take it on.

Another important factor to consider is:

  • July 2008 – Average cost of insurance is £509.
  • July 2012 – Average cost of insurance is £1,034.
  • That is an increase of £525 over 4 years.
  • Research has shown that whiplash claims have added around £90 to everybodies insurance costs.

That means an increase of £435 is not due to compensation claims, that isn't just inflation!


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Insurance companies fight paying billions in claims
Auto insurers play hardball in minor-crash claims - CNN


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