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Thread: Insurance is set to rise

  
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    webbie2oo6's Avatar
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    Insurance is set to rise

    ( this could be in the wrong section, if so then please move it)

    whilst browsing another forum i use i came across this new:

    Car insurance costs look set to rise following a move by Norwich Union, the UK's second largest car insurer, to raise its rates by an average of 16%.

    The firm said its hand had been forced by a similar rise in claim costs over the past two years, during which time insurance rates had remained static.

    Norwich Union said claims for personal injuries had been the main reason for the rise in its costs.

    Insurance for riskier customers, such as young men, will rise by up to 40%.

    David Ross of the Norwich Union warned that other insurers would probably copy his firm's example.

    "I think we'll find that most insurance companies will follow our lead - we're the largest insurer in the country, one of the largest motor insurers," he said.

    "There is an expectation amongst various commentators in the sector that motor premiums will need to rise to reflect the increase in claims costs, particularly from the more litigious society that we find ourselves living in."

    The Association of British Insurers (ABI) said costs were rising in several areas.

    "The first is personal injury costs - a very large part of your premium covers personal injury - and secondly, there is a major problem around uninsured driving," said Nick Starling of the ABI.

    "There's around a million uninsured drivers on the road, and all of us pay £30 on our premiums to cover those."

    Source = http://news.bbc.co.uk/1/hi/business/5300930.stm

  2. #2
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    autoSRI's Avatar
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    makes you wonder why bother with insurance they never payout if you clame anyway its just taking the pish its cuz younger drivers are easy targets

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    sorry just relised this was a report,

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    craig20102010's Avatar
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    i think its crap that the prices are so high in the first place. no wounder there are people who hanvt got insurance now the prices are far to high.

    Your looking at over £1200 for any first car that you get no matter what engine size it is.

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    moley_2003's Avatar
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    I agree with the above, its utter madness, why are young drivers being targeted again, just forcing more and more people to go without insurance! its alot cheaper and easier going without it. I got hit back in january by an uninsured police officer (driving his mates car) guess what his going to get?! 3-6 points and £450 fine!! where as i have had to go through 7 months of hell trying to get the car sorted etc... and they wonder why people go without it!!! Sorry rant over now!! *calm*

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