Car crash news
06/08/2012

Insurance premiums break £1000 barrier due to false claims

According to the AA British Insurance Premium Index the average cost of car insurance has broken the £1,000 barrier for the first time due to the increase in fraudulent car accident compensation claims.

The average cost of motor insurance is now £1,034, which is 8.5 per cent higher than it was last year and twice as high as over four years ago.

Young male drivers up to the age of 22 have been hit the hardest, with premiums reaching £2,792 on average.

It has also been reported that Greater Manchester and Liverpool are most affected by the increased premiums, while Scotland is the cheapest area in which to buy motor insurance.

The ‘compensation culture' and rise in fraudulent claims has contributed to the increasing costs of insurance.

It is estimated that around £90 has been added to the cost of every insurance policy as insurers now pay out nearly £2 billion a year on whiplash claims.

This rise in fraudulent car accident compensation claims involving whiplash has caused some GPs to start charging patients to diagnose the condition.

 

 

 
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*Where replacement vehicle costs can be recovered from the insurance company of the person who caused the accident. Where this person is untraceable or uninsured, or where there is a dispute over liability, a replacement vehicle cannot be provided.