Free Price Compare.com the popular car insurance comparison website that helps you find cheaper car insurance have predicted that car insurance premiums will come down in price by 2015, due to all driving records being put on one national database.
The new government led database will allow insurance companies to check within seconds on your driving record, they will be able to see if you have any speeding fans or any points on your licence. It will also be able to show what cars you are allowed to drive and with all this information at hand, it could mean that insurance companies will be able to give drivers better rates when it comes to their insurance policy.
At the present moment insurance companies can only check to see if you have a driving licence and licence details, to find out other information, insurance companies have to go through an expensive process that we as the insurance policy holder pay for.
At the present moment and most people who have a car and buy insurance will be shocked to learn, that each insurance company assume that you are lying when you insure your car. This does not mean that they think everyone lies, it means they work out the insurance quote on the assumption that you are lying and you are not telling them the whole truth about your driving record. This means you insurance policy will automatically be higher.
With the new system, insurance companies will be able to check straight away if you are telling the truth about your driving record. They will be able to see if you have any fines, current or outstanding and they will be able to see if you have any points on your licence. This will allow insurance companies to give you the correct insurance quote on your car and allow you to get a much better deal than you are receiving at the moment, but this will not come into place until 2015.
It has been predicted that honest drivers could save £15 on their insurance policy but it is hoping that this could be reduced even further with the new information.
If you are looking to save on your car insurance, then do not let your car insurance automatically renew your insurance,compare all the car insurance companies in one place by visiting Freepricecompare.com and see how much money you can save.