car insurance premiums

Experts have always argued that increase in car insurance costs are hugely due to fraudulent cases where collisions are well-planned just to get payout from UK car insurance providers. Digging into detail, it was discovered by the Insurance Fraud Bureau (IFB) that top UK cities are the breeding grounds for such frauds. Cities like Birmingham, Manchester, Oldham and Bradford are amongst the top ten places with maximum ‘crash for cash’ frauds. Top UK cities are breeding grounds for fraudulent car insurance claims, says IFBAccording to the Insurance Fraud Bureau, Birmingham tops this list this year with half of the fraud cases reported out of the top ten cities that face the ‘crash for cash’ crime. Insurance giant Aviva named it the ‘crash for cash’ capital last year in the wake of the fact that it received 3,000 fraudulent claims from Birmingham. No wonder, drivers in the second biggest city of […]

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The inevitable question of how to save on car insurance premiums holds itself tight in front of the UK drivers. As the car insurance cost rises every now and then it becomes difficult to manage the finances. However, experts suggest that those who use cars for a small time period should switch to pay-as-you-go car insurance to minimize their motor insurance cost in UK. Statistics reveal that by not choosing pay-as-you-go insurance, drivers pay at least £300 a year extra on their car insurance premiums. Although, the rising cost of motor insurance can take a breather due to the change in Ogden rule, it may still suffer from the much higher annual car insurance cost. Therefore, it is but natural to switch to car insurance providers that offer cheaper premiums. According to reports, there is a huge section of UK drivers who use their car for less than an hour […]

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Who doesn’t want cheap car insurance that protects the vehicle against financial damages and yet not disturb our household budget. There are various methods to save on car insurance cost UK including shopping around but an interesting way to reduce car insurance premiums is to change your job title. You can actually save around 25% off your UK motor insurance cost by simply changing a job title that is considered less risky for the insurers. UK motor insurance providers offer cheap car insurance by judging the customer and his/her driving habits against various factors. Job title is one of the deciding factors in calculating car insurance cost in UK. Logically, it is fair, as a racing driver has far more risk of facing accidents, vehicle damage and may even bang other vehicles more often than a nurse or a dancer. Therefore, car insurance providers in UK charge higher premiums from […]

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There is not an iota of doubt that car insurance premiums have seen a huge high in 2017 but there can be a sigh of relief in 2018 if the UK government reverses the Ogden rate calculation, which proved to be the major reason for increase in motor insurance costs. In a nutshell, the Ogden rate plays a significant role in compensation payment for life-threatening injuries. In March 2017, the Ogden rate was changed from 2.5% to -0.75% which had a straight effect on the car insurance premiums. As the insurers were made to pay higher pay-outs, the price of compensation was in-turn passed on to the car insurance policy holders. This had a negative impact as motor insurance premiums which got inflated by a huge margin. Basically, the Government’s decision to change the Ogden rate increased the average motor insurance premiums by £75. Motor insurance experts also had the […]

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Car insurance companies in the UK are increasing premiums even when the claiming driver is not at fault. Coming as a surprise, these price hikes are made by companies like Esure, More Than, Rias, Admiral and AXA. More Than has increased premiums by a whopping 33% followed by Esure (17%), AXA (14%) and Admiral (11%). With so much increase in premiums, car insurance has become a costly affair. The companies are asking premiums from drivers even when they were not at fault. So, if you meet up with a crash then you would pay higher premiums to your insurer. This does not go well with the policyholders and only five out of 1,281 drivers in the UK could understand or agree with these new norms. So, if your insurer has to pay for your car crash then you will have to suffer from a higher premium. Esure made a premium […]

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When you choose a car, you may consider a particular model or make, but what you might not have considered is that the kind of car you pick can have a significant impact on the amount you on your car insurance premium. In simple terms, your premium will be far greater on a Porsche compared to a Vauxhall. This is since insurance firms determine premiums on statistical risk – and since the driver of the Porsche is statistically higher likelihood of making a claim compared to the policy owner of the Vauxhall driver. Before choosing a policy, it is beneficial to check which car insurance group your chosen car fits into as this will have a knock on effect on how much you pay for your policy. If saving money is your goal, you will want to choose a car that would have cheap cover. There are a total of […]

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