Car Insurance Moves for the Honest Drivers
Posted on August 11th, 2010
The car insurance supermarket has been dwindling with the increasing frauds in the motor insurance. Just last week, the report from ABI revealed that the insurance sector is hit with 33,000 bogus insurance claims, a number that has increased considerably when compared to the previous year. The fraudsters have been preying upon the honest UK motorists with inflated claimed with exaggerated repairs and injuries that has become the outstanding reason for the inflated rates of insurance premiums.
Car insurance supermarket has seen the increase in comprehensive policies to go as high as 30% while making the genuine drivers also take the brunt of the inflation. The worst predicted outcome of the increase is the number of uninsured motorists that may flood the UK roads because of the unaffordable insurance prices. This will further continue to cost the insurance companies millions over the year, making the situation even worse.
Because of the impending crisis in the insurance sector, insurance providers have come up with a new and astounding solution for the same. Some of the insurance providers have come up with the initiative to check constantly the databases of the motorists such as that of The Motor Insurance Database, The Vehicle Licensing Agency, and certain other credit agencies of the like Experian.
This move will help the insurance companies to identify the honest and law-abiding motorists and help them with insurance policies that have lower premiums. These checks will use the credit scoring mechanism, in association with the third parties to offer as much as 35% less on the insurance premiums for the better drivers.
The insurance companies believe that the honest drivers need not pay for the bogus claims, which is why it becomes mandatory of the good drivers to get the right cover for themselves. This will help them with getting the attention from the honourable insurance companies thus, getting them policies based on credit. Although, an entirely new exclusive and new notion, good insurance companies will be able to provide you with a credit based policy and this idea is bound to catch pace in the current scene.
Compare car insurance quotes online and see how much you can save today with The Car Insurance Megastore!
Similar Posts:
- Environment Friendly British Driver Can Get Good Insurance Deal
- Government to search lack in reasonable insurance deals
- Quick Car insurance guide to save some money on premiums
- Insurance Companies Launch Premium Hikes for the Over-50s
- No Frill Comprehensive Insurance- A Solution for Increasing Insurance Prices
Tags: Car Insurance, Insurance
Filed under Car Insurance News |