Only auto insurance quotes online can give you the maxomum
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Only auto insurance quotes online can give you the maxomum

Posted by Admin on Oct 13, 2020

Maybe you don’t realize it, but purchase auto insurance quotes online can has a lot to do with watching TV. Anyone who watches television is profoundly and unfortunately well-known with the fast paced world of commercials. Advertising has…

  • Only auto insurance quotes online can give you the maxomum

    Only auto insurance quotes online can give you the maxomum

    Posted by Admin on Oct 13, 2020

    Maybe you don’t realize it, but purchase auto insurance quotes online can has a lot to do with watching TV. Anyone who watches television is profoundly and unfortunately well-known with the fast paced world of commercials. Advertising has become more high-tech, better funded, and sometimes more visually swingeing than the movies. The…

  • Keep your budget with economizing on auto insurance

    Keep your budget with economizing on auto insurance

    Posted by Admin on Sep 10, 2020

    If auto insurance premiums are breaking the budget, comparing car insurance quotes online before buying can help reduce costs. Discount auto insurance and raising deductibles may also help families and individuals to reduce premiums and save on car insurance. Compare auto insurance quotes online before buying a policy. Comparison websites allow…

  • Does your vehicle need comprehensive auto insurance?

    Does your vehicle need comprehensive auto insurance?

    Posted by Admin on Aug 12, 2020

    Comprehensive auto insurance save drivers if their car was damaged by willful destruction, hail or fallen trees. That’s why most people should have this coverage. Imagine buying a dream car and walking after a hailstorm of spring than seeing the self pockmarked with dents and cracked windshield. Or maybe the car was parked along the street…

Legal costs lead to higher premiums

Posted by Kristin Collins \ May 20, 2020

Office for National Statistics says that higher insurance premiums (up by 6.3% in the month of April) have contributed much to the inflation that has broken all records. If you compare car insurance premiums after a gap, you will notice a sharp rise in it. It has also been observed that petrol and car insurance premiums are two commodities which have been recorded for the fastest price rise. The annual rise for car insurance premiums is observed around 26.1 per cent. Even though car insurance is a smaller sector for spending by many households, but this annual price rise has contributed by 0.1% to the annual rate of inflation (which is 3.7 per cent).
ABI (The Association of British Insurers) says the major factor responsible for rising car insurance premiums is the growing legal cost. The ABI also said the fast growing legal costs attached to the car insurance, is the prime reason for the expensive insurance, otherwise insurance companies are ready to pay to the claimants. Such costs add up to 10 percent of the premiums paid by car owners. So, it becomes important to reduce these costs. If you are planning to buy a cover for your vehicle, keep a track of all the costs involved and compare car insurance premiums from different companies with a detailed breakup of the various costs attached with it.
Government figures show that for a claim of personal injury amounting less than £10,000, 76p is spent in legal costs for every £1 paid as compensation. These costs get even worse with smaller claims. Market competition has helped in keeping premiums low to an extent despite the pressures of rise in the value and volume of bodily injury claims. In addition, frauds and fake claims also play an important role in inflating the premiums for car insurance.
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